Netik is in the final phase of due diligence with three organizations for Netik Data Model Plus, a packaged-up version of the data model on which its Netik InterView data warehouse is based. The new product is aimed at large investment managers and asset servicers that have decided to build their own data warehouses – firms from which Netik would historically have had to walk away.
The vendor – which is 51 per cent owned by the Bank of New York – says Netik Data Model Plus will help to reduce project risk and enable quicker delivery for firms that have undertaken to build their data warehouses internally. “It is a very risky, lengthy and expensive undertaking to build a data warehouse from scratch,” says Netik COO Colin Close. “This is fundamentally due to the complexity of the data modeling exercise that must be completed before anything else can be built. It can be a perfectly legitimate decision to build your own data warehouse. This is where Netik Data Model Plus can help in mitigating project risk by giving such projects a huge head-start. Since the complexity is in the engineering and design of the data model, once they have that, the technologists can concentrate on how to shape it for their needs, which is a far less onerous task than trying to engineer the data model from scratch.”
Netik Data Model Plus carries the context of the entire investment value-chain, according to Close. It has 350 tables organized into multiple subject areas, 200 views and 1000 procedures and represents 15 years worth of elapsed development time. “Netik Data Model Plus is proven to accommodate both traditional and alternative strategies, is completely agnostic to the sources of data (application systems et cetera) and most importantly is designed to integrate with the pre-existing infrastructure in the enterprise – for example, enterprise applications, ETL tools and development frameworks.” Netik Data Model Plus is released on Oracle, with all the SQL as used by Netik InterView.
Netik will provide consultancy for the initial implementation, but firms will then deploy the data model in the way they need to. “There is no notion of supportable change or taking upgrades to the data model subsequent to its initial sale,” says Close.