The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Latest Release of DataFlux Data Management Platform Expands Support for MDM and Data Governance

DataFlux, a leading provider of data management solutions, today announced the general availability of the DataFlux Data Management Platform 2.2, a single platform for data management, data quality and data integration. The product also provides enhanced master data management (MDM) capabilities and adds features to allow business analysts and data stewards to initiate and manage enterprise data governance initiatives.

Notable enhancements to the Data Management Platform include an integrated approach to MDM and a set of web-based offerings that help business users, data stewards, project managers and IT teams collaborate more effectively to manage business and reference data. Web-based dashboards and monitoring tools allow data governance and data stewardship teams to create more refined controls on data – and provide a way to communicate the health of corporate data – by creating standards that help ensure that data is accurate, reliable and fit for purpose.

By providing a unified solution for business and IT users to plan, manage and analyze business-critical information, the Data Management Platform enables organisations to more effectively establish and enforce uniform standards for enterprise data – a critical component for data governance and MDM. The latest release of the Data Management Platform also features improved data matching and data discovery capabilities.

Early Adopter Program Drives Development

Knowing that customer feedback is critical to any successful technology release, DataFlux turned to its diverse customer base to participate in a six-month-long early adopter program. Customers tested the Data Management Platform 2.2 in real-world environments and provided feedback that helped shape the development cycle.

“Being part of the early adopter program was important to us,” said James Brousseau, enterprise data architect at Sonosite, a global leader and specialist in hand-carried and mountable ultrasound equipment. “The Data Management Platform 2.2 is well-built and easy to use. We felt the

organisation in structure and the new functionality really set it apart in the market. We have seen how it helps us better manage our customer and contact information – we’re looking forward to using it to tackle some of our other data challenges.”

What’s New in v2.2?

  • Master Data Management Foundations: This new feature extends the easy-to-use DataFlux Data Management Studio interface by providing an integrated, intuitive approach for building MDM hubs. Without acquiring and integrating additional technologies, users can begin a phased approach to MDM for entities such as household, organisation, person, policy, product and supplier.
  • Business Data Network: This web-based product serves as a centralised repository to manage the critical terms used in an organisation to run the business. Business teams and data governance councils can define and manage terms once – and extend those throughout the company. Business Data Network includes role-based access, lineage, security and history to maintain control and visibility for the management of a business glossary.
  • Reference Data Manager: In addition to the ability to define and orchestrate data management processes throughout the business, this web-based product allows business users to create and manage hierarchies, with definitions, entities and relationships clearly defined.
  • Dashboard Viewer and Monitor Viewer: Access configurable at-a-glance summaries, trend views and KPIs on data quality and data management processes within the organisation with these web-based tools. This can expand the visibility of data management initiatives to more business users throughout a company.
  • Unstructured data access: As organisations increasingly add forms, old business records or invoices to data management programs, the need to extract and rationalise data from these sources is increasingly important. The latest release of the Data Management Platform extends its unstructured data access and contextual extraction features to quickly capture this information and incorporate it into existing data management processes.

“For too long, data has been managed in separate silos – each with independent teams using a variety of tools and approaches for data quality,” said Tony Fisher, president and CEO of DataFlux. “Effective data management requires a cohesive framework with enterprisewide policies, robust technology that supports those policies and collaboration between business and IT to make the new processes effective. The Data Management Platform supports each of these needs to help companies rapidly achieve successful MDM and data governance programs.”

Related content

WEBINAR

Recorded Webinar: Data management for ESG requirements

Environmental, Social and Governance (ESG) investing is moving into the mainstream, requiring asset managers to develop ESG strategies that deliver for both the firm and its investors. While these strategies can outperform those that do not include ESG factors, there is no clear route to success in an immature market that is only just beginning...

BLOG

NeoXam Partners Market Data Consultancy MDP to Extend Reach of DataHub

Paris-based data management platform provider NeoXam has forged an alliance with market data consultancy MDP to extend the reach of its DataHub platform in the DACH region comprising Germany, Austria and Switzerland. The initiative will focus on helping clients deal with market and reference data challenges such as costs, multi-vendor strategies, reconciling data sources and...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...