Consolidating Technical Debt
After the financial crisis a lot of new data regulations were introduced across a wide range of industries.
Prior to this point, most databases had been managed reactively — responding and evolving only when new problems emerged. In order to prevent another crisis from occurring, regulators of financial markets introduced regulations that aimed to reduce systematic risk and create transparent market structures.
The companies and organisations that these regulations affected quickly had to adjust, and in doing so many accumulated a large IT debt. (Anna Pajor writes about this in more detail here).
Even so, many of the companies and organisations modified their existing databases in a chaotic fashion. The regulatory, compliance, audit, and risk management processes they implemented were often a mixture of SQL queries, Excel, and so-called “wetware”.
Needless to say, such systems are not scalable. They may match a present need fairly well, but when markets and regulations change again (which they inevitably will) such solutions will have to disassembled are recreated in line with the new requirements.
Moreover, these systems may not integrate and communicate well with each other which prevents them acting as a basis for accurate analytics and further automation.
Hardly a fantastic situation to be in.
Our new product, Observato, has been designed specifically to help organisations which find themselves in this position.
Observato is a unique SAAS data audit solution that allows you to monitor all of your data in one place, makes it easier than ever to comply with stringent industry regulations, and is fully compatible with your existing data systems. This means companies can enjoy a proactive, workable, and scalable solution.
Observato allows you to reach your data potential by presenting data in a business-friendly way, so that anyone with the right credentials can understand it. And all data is easily accessible and any changes made can be tracked.
You can find out more about how Observato can help your company or organisation here.
Originally published at www.linkedin.com.