IHS Markit has launched the Data Lake platform to administer data assets into a centralised catalogued platform.
The cloud-based platform will store, catalogue, and govern access to over 1,000 structured, unstructured, and proprietary data assets.
The IHS Markit Data Lake Catalogue also provides search and exploration functions through a standardised taxonomy across data sets from the financial services, transportation, and energy sectors.
Data Lake is expected to improve the organisation and efficiency of data and value extraction and analysis.
Yaacov Mutnikas, chief technology officer and chief data scientists at IHS Markit, explained: “Our Data Lake breaks down siloes by providing quick and efficient access to a vast data universe enabling much faster analysis across a large number of datasets. The cloud-based platform provides the highest level of data governance at scale and a robust access control framework for data protection.”
Lance Uggla, chairman and CEO of IHS Markit, added: “Proportionately many users are spending far too much time on the search and setup of disparate datasets and therefore less time on testing and acting on meaningful insights.”
“The Data Lake will create efficiencies for our customers by expediting the deployment of data, accelerating organisation and reducing the time to market with actionable intelligence and decisions.”
Elsewhere, IHS Markit also recently selected Amazon Web Services as its preferred cloud infrastructure provider.
