Data vendors deliver their data in countless ways, such as different feed paradigms, access mechanisms, formats, and many more. But there’s an often-overlooked aspect of this dynamic: the critical cooperation between GoldenSource, as an Enterprise Data Management (EDM) provider, and the data vendors we work with on behalf of our clients.
We’re called ‘GoldenSource’ for a reason. We enable the consolidation of all your data sources of choice – external and internal – into one all-encompassing 360° view of securities, entities, real assets, alternative investments, and so on. But achieving this goes far beyond technology. It also requires partnership, strategy, and a deep understanding of data’s evolving nature.
So what does that mean for you? I think it boils down to four key areas.
1. A Flexible Platform
First and foremost, a platform is needed that can handle the challenges of integrating multiple data sources, each with their own characteristics and focus.
2. A Unified Data Model
Additionally, you need a data model that’s simultaneously focused on one specific view but still substantial enough to provide the range of insights you require to make investment decisions.
3. Proactive Change Management
You also need a process to stay on top of the ever-changing data developments that occur in the financial world, whether it’s new regulations, new asset classes, new data types, and more.
4. Strategic Partnerships
Finally, close cooperation with the data vendors is essential to help ensure the data you depend on is well understood, accurate, and well catered for. The very nature of data is that it is in constant flux, and always ripe for change, improvements, and modifications at any time.
Of course, each data vendor is an independent company in its own right and each has it own ways of how to launch, maintain, and notify users about their own product offerings.
Over the next few weeks, I’ll take a closer look at each of these areas, diving deeper into the strategies and practices that make GoldenSource the trusted bridge between data vendors and clients.
Next week, we’ll begin by exploring how platforms like ours handle the complexities of integrating diverse data sources.