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GoldenSource Launches Cloud Data Services for Data Lakes and Warehouses

GoldenSource announced today the launch of its cloud data services for financial markets firms to better manage data into and within data lakes and warehouses.

Cloud data platforms and warehouses, such as Snowflake, are the next frontiers in enterprise data management, promising numerous benefits to aid analytics, processing, and reporting for both investment managers and capital markets firms. Despite the growing ease at which valuable data is available, including various cloud data marketplaces, a significant challenge remains in structuring the data in a way that brings immediate value to the personas consuming these data sets. Bringing in data sets is challenging and there is lots of overhead. Source data formats either need to be replicated within the data lake or mapped to a schema within the lake, which is a resource-heavy process.

GoldenSource, with its decades of experience as a leading provider of data management services, is now providing this infrastructure as a service, including data pipelines and cloud-ready data schemas, to enable market participants to harvest data for their data lakes in a more efficient and beneficial way. Core to the GoldenSource offering is its cloud data model, which can be embedded in any cloud data warehouse or lake, providing immediate structure in what would otherwise be a disorganized data swamp.

Users can take data from traditional sources or via the cloud marketplaces, and use our pre-configured vendor connections and toolkits to transform and use the data in their preferred warehouse, including Cloudera, Snowflake, Databricks and Google Cloud Platform. This significantly reduces the overhead needed to quickly onboard and manage these data sets The services ensure end-users can bring in all types of data, whether vendor data or shared data from a cloud marketplace, in addition to their own proprietary data (structured or unstructured). GoldenSource also provides tools to plug in more data feeds and functionality, such as Data Quality and APIs, while the service runs in the background. As a result, the right data is always accessible to the right teams and systems.

Jeremy Katzeff head of Buy-side Solutions at GoldenSource said: “The development of data management infrastructure services within existing data lakes is truly revolutionary for how market participants configure and use data. As financial institutions work with greater amounts of data, driven by the need for more quantitative strategies, the growth of alternative data, and the emergence of ESG, GoldenSource is at the vanguard of providing the latest tools, structures and services to make sense of this.”

John Eley, CEO of GoldenSource added: “Ensuring that market participants get the most out of data has always been our primary objective. We are excited by the opportunity to bring our knowledge and expertise in data management and grow our footprint by collaborating with those leading the charge in the new ways of working with data.”

For more information on GoldenSource’s cloud data services, read here

Difference Between ‘Cloud Data Services’ & ‘Hosting & Managed Services’

Cloud data services ensure that cloud-based data platforms (e.g. data warehouses and data lakes) can easily take in and organize data. Hosting and managed services ensure the connectivity, operational availability and security of cloud-based applications (e.g. data platforms such as data warehouses and data lakes).

About GoldenSource Cloud Data Services

Often, firms invest in cloud based data platforms and then struggle to get value from them, because the data they take in needs to be reformatted, e.g. from the format in which it is supplied to a format that will allow the users of a firm to make it work with other data. GoldenSource offers ‘data pipelines’ that fulfil this task. These data pipelines are run as a service.

Next, the various types of data, in their common formats, need to be organized and related to one another in order to facilitate analytics or to curate data sets for various business functions. Cloud data warehouses and lakes do not natively include data schemas (or models) that understand and help organize the types of data that are unique to financial services. To this end, GoldenSource has enabled its industry-leading data model to be embedded in these cloud platforms to provide immediate structure to data that is brought in. Without the level of organization delivered via a schema, data are simply meaningless data points and cannot be leveraged as an asset. GoldenSource provides and maintains data schemas. These data schemas are run as a service.

So, GoldenSource offers cloud data pipelines as a service and cloud data schemas as a service. These are the GoldenSource Cloud Data Services.

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