Data3Sixty, a provider of cloud-based data governance, has added interactive data visualisation and lineage capabilities to its Data Collaboration Suite, allowing both business and technical users to gain insight into data flows, data definitions and data responsibilities. The additional functionality is incorporated in the latest release of the company’s software and will be further enhanced in a Q1 2016 release that will be available in April and include extended search capabilities covering data relationships and hierarchies.
Jeff Shortis, Data3Sixty co-founder and CEO, explains: “Providing a comprehensive data lineage capability that the business can easily understand and interact with has always been the holy grail of data governance. Most options in this area are either highly technical or lack the interactive benefits and high level views that most business users are looking for. In the latest release of our software, we provide significant capability around visualisation and lineage that we feel differentiates Data3Sixty in the market.”
Shortis established Data3Sixty in 2012 after working as a chief data officer (CDO) in an asset management firm. The problem he encountered as a CDO and sought to solve by setting up Data3Sixty was that while progress was being made in making data bigger, better and faster, this made no difference to business consumers’ understanding of the data.
Data3Sixty completed its first round of funding led by Breton Capital Management in July 2014 and went on to work with an asset management firm to round out its data governance software before making the Data Collaboration Suite available in March 2015. The solution is hosted on the Microsoft Azure cloud and includes an extensive business glossary, data quality tools, data ownership options, collaboration capabilities and the ability to integrate vendor applications and market data within the Data3Sixty data governance environment.
Shortis says clients choose Data3Sixty on the basis that its solution is easy to deploy and understand, its cloud based operating model supports quick win deployments as well as continuous evolution of the platform, and that it has expertise from industry in data governance and financial services.
He names Data3Sixty’s main competitor as Collibra, although the company also meets IBM and Informatica in the market, and says it differentiates with high levels of automation, best of breed integration, the completeness of its cloud offering and extensive subject matter expertise.
With a second round of funding completed in September 2015, a total of seven asset management customers signed up since last summer and three more coming on board in the current quarter, Data3Sixty continues to develop the Data Collaboration Suite platform and is working to extend its market presence beyond North America and South Africa to Europe.
Shortis concludes: “As regulation evolves firms must be compliant, but regulation is not the only driver of data governance as firms that are reliant on data need to control and understand it to gain operational efficiencies and deliver consumer satisfaction.”
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