Making Progress on Centralizing Data Analysis
In a column for this month's Waters magazine, an analysis of data management culture and methods touched on the idea of centralizing data tasks. I've been hearing a lot more since then about how data analysis is a function that can benefit from centralization and consolidation of data.
Generally, when computers are given multi-dimensional analytical inquiries, they use online analytical processing (OLAP) as a means to produce answers to those questions. With new and more complex middleware, visualization technology and lower latency messaging all in the mix, a new version of OLAP could be needed to include these technologies in processing and answering those inquiries.
There are some technologies that can extend data models rapidly and on an impromptu basis, particularly for the definition of a security. Firms are starting to use centralized data groups to validate models. Such centralization was once considered rigid and inflexible, but now with rapid application development (RAD) environments, even a centralized environment can be flexible or be altered to keep pace with changes in data due to business changes.
More lightweight applications, cloud computing and the use of big data can all contribute to centralization of data analysis. While cloud computing can provide value by making data sets available for different analyses in different applications, and also decrease the time required to do different analyses, connecting different clouds together, and connecting internal data sources with data hosted using cloud resources, can present a challenge.
Still, it does seem that centralizing data analysis is not the unwieldy proposition it once was, and firms are implementing it, although with some caveats. There is room for advances and improvements, and there will be more developments to come.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Data Management
After funding boost, Databento preps data expansion
After recently announcing $97 million in funding, the vendor is pressing ahead with global expansion plans.
Can AI beat exceptions out of the back office?
The Waters Wrap: Agentic AI can help operations teams tackle exceptions. But first, they need to get their house in order, writes Wei-Shen.
SIX launches market data platform designed for accessibility
SIX Market Signal aims to bring price transparency, ease of use, and reduced administrative burden to the maddening world of market data.
ISS Stoxx’s new analytics, S&P and Kaiko launch joint indexes, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
Federal court moves to certify class in Cusip antitrust suit
The SDNY judge has handed a procedural win to plaintiffs, allowing swaths of end-user firms and third-party data vendors to join the class action.
The market’s most valuable asset?
DTCC’s Tim Lind writes that using data effectively can provide the intelligence needed to improve investment performance, reduce risk, and inform strategic decision‑making.
Report once: will Esma’s €1bn reforms deliver the full picture?
Critics say plan to merge three reporting regimes will see scant returns, and won’t mesh with single-sided reporting.
Navigating the MarketAxess ICE storm
The Waters Wrap: Most of the discussion surrounding ICE’s MarketAxess buy has focused more on benefits for the front office than the data possibilities.