London
15 March 2017
Reporter: Stephanie Palmer

Quest for ‘warehouses of truth’


Increased data quality is the main benefit of data warehousing for asset managers, according to a discussion at TSAM London.

In a data management forum session, audience members were asked: “What is the biggest advantage you gain from a data warehouse?”

A significant majority, 43 percent, answered that the main benefit is increased quality and a single version of the data

Increased utilisation of data within the firm was named as the biggest benefit by 29 percent, while 18 percent noted that a warehouse can provide flexibility to meet new data challenges and 11 percent selected lineage and data governance.

A speaker in the session said that with regards to data warehouses, often a lot of words are used to describe something that is “not that complicated”. He agreed with the audience poll, saying that the main goal is “one truth and one understanding of the data”.

If two areas of an organisation are working with the same piece of data, they don’t have to waste time making sure their versions match up. And, if they don’t match up, they don’t have to spend more time reconciling them.

If there is a single source of data that both businesses can access, they can immediately start discussing what they are going to do with it.

The speaker also noted challenges in the adoption of ‘data lakes’, which are stores of raw data that are set aside until they are needed.

The main challenge is getting senior management on board, persuading them to spend money on data—something they perceive that they already have.

Another speaker also noted another set of challenges that arise from trying to store everything in one place. Asset managers should have a clear definition between the middle- and back-office data and the front-office analytical data, which he called “less mission-critical”.

He added that data warehouses should be built to support the business in the future, with capabilities to encompass new products or programmes, and this requires some internal overheads.

While the data in the warehouse should be a ‘golden source’, the speaker noted that, in the case of a discrepancy, data must be fixed at its source, and not in the warehouse, otherwise the business will end up with inherent quality issues.

He concluded that a data warehouse can provide operational efficiency and flexibility, offering the ability for asset managers to “report off of something that you would inherently want to”.

More data services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
GoldenSource takes on data management challenge
01 December 2017 | New York | Reporter: Stephanie Palmer
GoldenSource has launched its new Nexus hosted data management solution, intended to provide a single source of market and reference data
AxiomSL and GridCon partner up on regulatory data transition
28 November 2017 | Frankfurt | Reporter: Stephanie Palmer
The partnership is intended to expand AxiomSL’s footprint in Germany, combining the platform with GridCon’s expertise in data models and German reporting requirements with the AxiomSL reporting platform
Vela launches new data hub
15 November 2017 | London | Reporter: Jenna Lomax
The new data hub will provide clients with access to multiple systematic internaliser liquidity price feeds through a single application programming interface
Opus partners with Fenergo on KYC
10 November 2017 | New York | Reporter: Jenna Lomax
The two firms will offer integration of risk relevant data into know-your-customer processes
BNP Paribas partners with Janus Henderson
09 November 2017 | Denver | Reporter: Jenna Lomax
This partnership is intended to provide a global platform to support to Janus Henderson’s regulatory and industry issues in order to help the firm grow internationally
SmartStream upgrades TLM solutions platform
16 October 2017 | London | Reporter: Theo Andrew
A new feature, TLM View allows customers to access to real-time and historic data in the reconciliation repository in order to identify trends on one single, customisable interface
Scorpeo reveals new TCA application
12 October 2017 | London | Reporter: Barney Dixon
Scorpeo has launched its new TCA application that will help investment managers identify missed value in their portfolios
More data services news