Data professionals spend a significant amount of time ingesting, quality-checking, mapping, transforming, enriching, delivering, and monitoring data across the data pipeline, according to FactSet.
Often collecting data from disparate datasets using different identifiers, companies face challenges making that data work together and moving it quickly through the pipeline to the final user.
To address this issue, FactSet has recently launched its Data as a Service (DaaS) solution that provides data collection, management, and integration to data management teams at financial institutions.
FactSet DaaS is a suite of services that empowers data operations, architecture, and governance professionals to efficiently source and manage data in a way that powers critical firm objectives, delivers high-quality data to internal stakeholders, and manages associated costs across the data management process.
“Our clients, ranging from institutional asset managers to data providers, spend a considerable amount of effort and expense configuring data to drive decision-making and achieve their strategic business objectives,” John Costigan, FactSet’s Chief Data Officer, said in a statement.
“FactSet DaaS allow data professionals to centralize all types of datasets on a single platform, removing friction, accelerating data flow, and reducing error risk, so that businesses can realize maximum ROI for their stakeholders.”
FactSet DaaS includes: Data Quality & Completeness Service, which Prevents downstream data issues by conducting a series of quality checks to verify completeness before data moves through the pipeline; Managed Cross-Reference Service that maps all identifiers from various datasets to a unified symbology model, allowing data to be called upon effectively and verifying different datasets can be connected to power downstream processes and applications; and Managed Custom Query Service that transforms data to meet its intended end use case by defining the desired data output with automated processes.
FactSet DaaS solution sources and ingests data on a clients’ behalf, executing processes, and delivering the data precisely according to each firms’ requirements. This comprehensive, end-to-end approach enhances efficiency and streamlines the entire data pipeline for users, enabling them to focus on more strategic, high-value initiatives that drive business growth.
