GoldenSource has made its first move since being acquired in May 2022 by Gemspring Capital with the release of cloud data services designed to help financial institutions improve data management in data lakes and warehouses.
The company notes increasing use of cloud data platforms and warehouses, and the ease of data access, but also the challenges of structuring data in a way that brings value to users consuming data sets from cloud platforms. For example, source data formats either need to be replicated within the data lake or mapped to a schema within the lake, which is a resource-heavy process.
To resolve these challenges, GoldenSource is providing Infrastructure-as-a-Service, which includes data pipelines and cloud-ready data schemas that are not natively included in cloud data warehouses and lakes. This enables data in warehouses and lakes to be organised in a more efficient and beneficial way. Core to the offering is the company’s cloud data model, which can be embedded in any cloud data warehouse or lake and provide immediate structure in what, it says, would otherwise be a disorganised data swamp.
“The development of data management infrastructure services within existing data lakes is revolutionary for how market participants configure and use data,” says Jeremy Katzeff, head of buy-side solutions at GoldenSource. “As financial institutions work with greater amounts of data, driven by the need for more quantitative strategies, the growth of alternative data, and the emergence of ESG, GoldenSource is providing the latest tools, structures and services to make sense of the data.”The latest GoldenSource cloud data services allow users to take data from traditional sources or cloud marketplaces and use the company’s pre-configured vendor connections and toolkits to transform and use the data in their preferred warehouse, be it Cloudera, Snowflake, Databricks or the Google Cloud Platform. All types of data are supported, including vendor data, shared data from cloud marketplaces, and structured or unstructured proprietary data. The company also provides tools to plug in more data feeds and functionality, such as APIs and data quality, while the service runs in the background.
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