Markit has completed the integration of VistaOne and vReporter with its enterprise data management (EDM) software and is preparing to bring a combined EDM, data warehouse and reporting solution to market.
The company acquired the VistaOne data warehouse and reporting solution as part of its acquisition of CoreOne Technologies in August 2015. It also acquired RegOne, a trade execution quality and regulatory reporting solution that complements Markit’s equity transaction analytics capability; DeltaOne, an index aggregation solution that fits Markit’s index and exchange traded products business; and PrimeOne, which extends Markit’s provision of prime brokerage services.
The company’s integration of Markit EDM with VistaOne and vReporter creates a modular solution set and provides Markit with additional reach into the VistaOne client base, which includes hundreds of asset managers and fund administrators, as well as an extended offer for its own clients.
Andrew Eisen, managing director of cloud strategy and enterprise software at Markit, says: “Data management doesn’t work in a warehouse, the need is for an EDM platform to manage data and a warehouse to store data, including time series data, for reporting. In the integration of Markit EDM and VistaOne we have built data modelling that sustains data relationships and integrity across the EDM and warehouse platforms.”
The integration uses proprietary Markit messaging already used in the company’s EDM solution to provide a complete and seamless process from data management to storage and reporting, as well as an audit trail and the ability for data governance controls to interrogate the data. Similarly, old data management and reporting tools have been lifted out of the warehouse and replaced with tools built with technologies used in Markit EDM.
Markit plans to bring the integrated data management and warehouse solution to market in the next few weeks. While the Markit EDM, VistaOne and vReporter modules can be licensed individually, the company expects the integrated solution, which can be in-house deployed or cloud based, to find favour among both VistaOne and Markit EDM users.
Eisen says: “When we acquired VistaOne we thought our clients would want to talk about reporting as they already had data warehouses, but they are very interested in the VistaOne data warehouse as it has been difficult to maintain in-house built data warehouses as the market has moved on. We have about 150 EDM clients and 100% of them could use the integrated capability. I would be pleased to see 10% of them using the data warehouse in the next 18 months.”
Looking forward, Eisen suggests the integration of data management, warehousing and reporting could be the foundation for data governance that can support the regulatory demand to understand data that is used in decision making.