Waters Technology: Inside Reference Data - Choosing a New Path
Posted: 3 October 2016 | Author: Pauline McCallion | Source: Waters Technology
Data is an asset that can provide real business value, if used correctly. By offering organizations a way to integrate multiple data sources without major infrastructure-related costs, federation can lead to the creation of flexible data management systems and processes that deliver accurate information in a timely and cost-effective way—both for compliance purposes and for business use.
While data federation is certainly not a new concept, organizations currently facing a new era of increased reporting requirements and lower yields, coupled with growing markets and investors on the hunt for the next new opportunity, are searching for ways to use data more efficiently and effectively.
“The trend towards federation is mainly happening because data volumes are growing at such a pace, and also different types of data are growing,” says Edward Boag, chief data officer at Pioneer Investments. “It’s becoming more difficult to collect everything in one place and link it all in the old-fashioned way. It’s much easier to federate data, leaving it where it is and putting links in place instead.”