Enterprise Data Management special report
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Flying Vs
The deployment of big data resources for the purpose of enterprise data management (EDM) has made inroads for EDM, but is not completely driving it, as MarkLogic's Ken Krupa tells us in the Virtual Roundtable in this report. The "three V" concept-meaning volume, velocity and variety as descriptions of data big flows that have proved challenging for EDM-has been magnified, as Krupa puts it.
The magnified "three Vs" are driving adoption of EDM programs, because they erode data quality and increase the importance of accurate data provenance and boundary information. EDM, in effect, is another means to pursue centralization of data (see "Centralization Takes Center Stage," the column in our regular issue this month). Centralization breeds efficiency in the EDM realm and addresses the data industry driver of creating clean golden copies of data.
Aside from lowering costs, EDM users are also seeking a better take on the impact of bad data, on how a single security's price may affect a fund, and on understanding how business decisions are affected by data, according to Eagle Investment Systems' Robert Brachowski. That includes gaining intelligence on opportunities and risk. EDM systems should include execution management and data inquiries capabilities, says J.P. Morgan's Ludwig D'Angelo. Aligning data correctly is another function for the EDM model to address, says Citi's John Carney. One static data governance strategy is not enough to follow a complex data governance policy, according to Brachowski.
While the data available for EDM may be taking off on the power generated by the "three Vs," many in the industry see EDM's strength in possibilities such as data alignment and centralization, not necessarily in addressing the "three V" whirlwind. The participants in the Roundtable in this report consider how EDMs themselves continue to exist with the range of challenges now involved.
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