Case Study
Post-merger Data Management Analysis at an Insurance Company
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ENABLED BUSINESS INTELLIGENCE
Normalized, ETL-ready data powered tools drove analytics, decision-making and reporting
OPERATIONAL EFFICIENCY
Improvements to data quality and governance accelerated access and improved performance
IMPROVED ACCURACY AND REDUCED RISK
Enhanced data visualization mitigated regulatory and compliance issues and risk
Bank Unable to Use Archived Data for Business Intelligence
This global investment bank hit a roadblock in applying business intelligence (BI) tools to its fixed-income transaction data. In attempting an ETL (extract, transfer, load) process to feed its tools, it discovered that more than three-quarters of its data wasn’t fit for use.
The bank had a massive transaction trade archive with data sourced from variety of different systems, trading desks and electronic trading venues. However, due to lack of data governance and standard formatting there was no effective way to query the data and put it to work.
Broadridge Consulting Experts Set the Data Straight
The bank engaged Broadridge Consulting Services to perform an in-depth analysis of its data lake, documenting its shortfalls and creating a roadmap for data corrections, cleansing, and enrichment. Broadridge’s expert data scientists cleansed and rationalized data already within the archive, repairing records, purging duplicates and normalizing the data for extraction.
Upon completion, Broadridge provided the bank with operational guidance and data management advisement for the entire system. They also supplied specific business requirements so the data set would remain accurate and usable for future applications.
Core Benefits
- Ensured clean and usable data sets
- Enhanced accuracy and completeness for effective regulatory compliance
- Improved data governance processes and procedures for maintaining this data
- Enabled advanced analytics, mining and insight for improved business-performance analysis and risk management