Sun Street has introduced real-time data quality management and a rules-based data quality scoring system in Version 5 of its Curium Data Quality Management (DQM) software. The developments are a response to business needs including risk reduction, improved data governance, regulatory compliance and, perhaps most importantly, the ability to keep decision makers and consuming systems up to date on data quality issues.
Curium v5 builds on v4.1, which supports batch rather than on demand data exception checking and does not include data scoring. To achieve real-time exception checking and deliver updates on data quality as it changes, Curium v5 works as a component within a service oriented architecture, responding instantly to calls for record checks and posting information on the closure of quality issues in the same timescale.
Explaining the benefits of v5, Adam Saunders, product manager of Curium, says: “Once a firm starts benefiting from a business led DQM process it is a natural evolution to move this from a batch process to a real-time process. This technical innovation brings business benefits in its own right as firms can react quicker to data issues. Curium can now publish quality updates via standard messaging architectures whenever changes occur, either in the source data or when issues are resolved. Data scoring takes this a step further by adding a rules-driven quantitative quality measure that allows people or systems to assess the impact of data quality on a near real-time basis.”
The rules-based data quality scoring mentioned by Saunders adds a data score to the results of a data check. This is communicated instantly to a user or consuming system and describes the quality level of data and the potential impact of applying the data. The software allows users to set rules around quality scores such that if a record exceeds a quality score it can be flagged in a data hub or downstream system. Similarly, quality score information can be summed up across a set of records and if the result is too high, a decision can be made on whether to deal with quality issues before data is consumed.
Sun Street is targeting Curium v5 at firms with real-time architecture that are working on data management programmes designed to improve regulatory compliance and data governance. With towards 10 customers in Europe, including some big names on the buy side, Sun Street expects Curium v5 to meet the needs of these customers and extend its reach. Saunders says the company is talking to sell-side firms, picking up opportunities in the US and receiving enquiries about its products from the Asia Pacific region.
With Curium v5 available in the market, Saunders is also looking at the next major release of Curium, Version 6. This is likely to be released in early 2016 and is expected to expand the types of data sources that can work with Curium – v5 uses database objects from a multitude of database technologies – and add visualisation of high level management information.