How to Cost‐Effectively Manage Higher Data Volumes
PROBLEM: Data Volumes are Increasing – but You Can’t Keep Adding Technology and Staff
You’ve no doubt realized that managing benchmarks and reference data is fundamentally different from other data sets. It’s more complex – so it takes more staff time to validate and customize the data for use by specific systems. Specific indexes are sometimes mandated as part of an investment policy, so there is often no alternative. And the number of indexes is large and continually increasing. This increasing volume is compounded by some distinctive technical challenges. For example:
- The number of benchmark and reference data providers is greater than other, simpler data types – and each may format data differently
- The number of users and uses within your firm may be large and diverse – so your needs for reformatting and customizing data may be large
You may be coping with the challenge of increasing volumes of benchmarks and reference data by using spreadsheets and manual workarounds. But with growing volumes, this can increase operational risk, compromise data quality, and reduce the timeliness of the data.
SOLUTION: RIMES Highly Cost‐Effective Managed Data Services are Scalable to Grow as Your Needs Grow
With RIMES, you will:
- Be relieved of validating, remediating, reformatting, and customizing data. Volume increases can be handled easily by RIMES data sourcing-to-destination-system workflow
- Have access to an ever-increasing universe of benchmark and reference data (800 sources from 200 data partners) that is tailored to your individual requirements as part of our fully-managed service
- Specify exactly what data is needed and when, and RIMES will manage it, regardless of volume and complexity
- Manage all of your benchmark and reference data operations through a single relationship with RIMES, including assistance with licensing, contracts and administration
- Remove the need for additional staff to handle higher data volumes. RIMES is a scalable solution
Choosing RIMES gives you the ability to focus on managing investments — rather than managing increasing volumes of data.