The Wall Street Journal just ran a story on how states are using specialized tools to drill for and find megamillions. But the story’s not on oil and gas drilling. It’s about state revenue and tax departments who are drilling deep into their infrastructure reservoirs for detailed data – across many rich subterranean sources. They’re becoming masters of tapping into veins of data that they can convert to cash – with Teradata databases and tools. States mentioned in the article are Oklahoma and Ohio, however several others have hit some big revenue geysers. They’re excited about it, and have some very happy finance and information executives.
Not all of the state testimonials made it into the final WSJ article. The State of Texas has been drilling with Teradata for years and has uncovered and collected more than $900 million in unreported and under-reported tax revenue. The State of Missouri began a few years ago and it has collected more than $90 million.
The State of Maryland just joined this group of innovative governments and is now implementing a Teradata enterprise data warehouse system and tools to mine data for tax revenue. All told, our state agencies using Teradata systems to drill data have recovered over $1.3 billion.
We at Teradata have bet our business on the premise that the solution to almost every economic problem that organizations experience can be resolved by using our powerful, real-time analytic database to explore and exploit their own dynamic reservoirs and click streams of detailed data for actionable, money-making information.
We congratulate these resourceful and innovative state agencies for following the lead of many global commercial organizations in finance, telecommunications, and retail that have discovered that drilling into detailed data with Teradata database systems can send 100-foot fountains of profitable revenue up into the air — and spray it all over their businesses, year after year.