Solidatus shines at Big Data London

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Solidatus’ CIO delivers a session on what data culture should really mean at Big Data London, wins A-Team data award in New York and meets hundreds of attendees at their event booths

Big Data London – the UK’s leading data and analytics conference and exhibition – opened its doors on the 21st of September. Over two days, Kensington’s Olympia London played host to over 100 leading technology vendors and consultants, and tens of thousands of attendees.  

Big Data London is a special time of the year for the team at Solidatus. It’s a chance for us to celebrate our industry and the impact data is having on businesses across the world. But more importantly, it gives us an opportunity to connect with our customers and partners, and a chance to escape digital meetings over Zoom! 

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The march towards an understanding of the complexities of data and how to manage them is a challenging and exciting goal – one that Big Data London’s esteemed speakers held in their sights across the dozen theatres that hosted their sessions. Our Chief Innovation Officer, Philip Miller, was one of them.  

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philip miller presenting at big data london

Data consumers are found in every function and at every level of the organization. Consequently, vast amounts of data are collected with little context as to its origin or meaning. Addressing a full house, Miller spoke of the importance of building a data culture within a business to ignite the fire to fuel innovation.

“The data world has changed so dramatically, so why hasn’t our approach or tooling? This is why we developed Solidatus – to deliver a solution that provides unique capabilities within data management to enable a fundamental shift in thinking and approach that allows businesses to simplify the complexity and give context for better data-driven decisions… Solidatus is the golden thread that connects your data to the processes that create it, to the policies that guide it, and the obligations that regulate it,” said Miller.  

In an uncertain world, it pays to understand how data moves through an organization. Miller went on to say, “We may not have much control over events in the world that drive the need for resilience, but we can position ourselves to make the most of necessary change and view our organizations with new perspectives.” 

Part of building an active data culture is about understanding the context in which your data is used.

“Our philosophy is that everything is connected. It goes beyond just seeing how data flows from application to application to how it then eventually ends up on a report. Our software is a tool by which organizations can gain clarity over their entire ecosystem and understand WHY their data is being used and how it is connected,” Miller added.

Speaking a common language across a global business is hard. But if you’re to succeed in the coming months, years, and decades, then embedding data literacy into your organization is essential.

“If we want to increase data literacy and provide an up-to-date and dynamic self-serve environment to all your data consumers, you need to move away from dependencies on countless systems, people or tools when you try to understand how data is used across your organization. A Solidatus blueprint is the Rosetta Stone that allows you to build the common language that enables an active data culture,” said Miller.

Throughout his presentation, Miller reiterated the importance of data in constructing powerful business strategies, and how by using a tool like Solidatus, you bring an agile, data-centric approach to decision- making.

For an audience at Big Data London, it may seem obvious, but Miller reminded us that today, more than ever, the board of a company has less and less in the way of excuses for why they have not met key data regulations. Chief Data Officers and their immediate staff are not the only people who should be concerned about data; everyone must be a data steward.

Watch the full session on demand:

As our time at Big Data London came to an end, across the Atlantic, Solidatus’ CEO, Philip Dutton, and Chief Data Officer for Bank of New York Mellon, Eric Hirschhorn, were delivering a similar message at the Data Management Summit in New York. Dutton and Hirschhorn spoke of breaking down silos across your business to build an enterprise data management-governed view, as well as the importance of ensuring your data operations matched your data aspirations.

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To finish a productive and awarding week, Solidatus took A-Team’s Best Data Discovery and Catalog Solution at the summit!

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Good data governance includes a set of robust processes, policies and standards that ensure the efficient and effective use of information. It stipulates who is responsible for data, how it can be used and how its quality is assured. Part of NOW: Pensions’ newly defined Data Governance Program included creating a new business data model to improve and organize their data structure. Once built, the model was then enriched through defining a set of data quality rules that prevented the uptake of bad data, as well as measuring the quality of the data that was already held by NOW: Pensions. 

The team at NOW: Pensions identified three main challenges:

The ‘as-is’ data wasn’t clear. 

  1. A business data model was needed to guarantee that the right data was available to users and that there was one source of truth. 
  2. Data quality rules were required to measure current data quality and to stop bad data re-permeating systems. 

Key to addressing all these challenges was achieving an understanding of where data originated and what data flowed to where. 

How NOW: Pensions used Solidatus to address their key challenges

Data Distress: Is the Data Office on the Brink of Breakdown?

Mapping data lineage

NOW: Pensions used our powerful data lineage functionality to map their ‘as-is’ data lineage from its point of origin right through to the data warehouse. This gave them an accurate snapshot of how their databases were structured and provided cataloguing of the technical metadata for every column within each individual table, such as data type and field length. Individual source system models could then be joined to show the transitions from the source systems through the staging databases to their data warehouse.  

Creating a Business Glossary

NOW: Pensions created a business glossary to provide a common language for all the terminology within each source system. Solidatus Reference Models allow subject-matter experts (SMEs) across the organization to record the terms their area uses; these can then be shared, centrally collated, and disseminated across the business to ensure consistency of understanding and eliminate confusion.  

Building a Business Data Model

Once a new business data model was created within Solidatus, the source systems could then be mapped to entities within the lineage models so that the data architects and developers were confident with what each of the column headers referred to. Business rules could then be defined to ensure that all the data fields in the new model were correct even though the data came from a variety of systems. 

NOW: Pensions is using Solidatus as their central data governance tool. This has resulted in:

  • A single workflow for managing collaboration among users and facilitating the effective development of Models.  
  • ‘As-is’ models providing a clear view of where the data entered their systems, which was invaluable in identifying where to execute Data Quality Rules. 
  • A complete view of how their entire data landscape is structured. 
  • A common language for their terminology. 
  • Full transparency across their data landscape. 
  • A Business Data Model built with the confidence that only correct and timely data can be viewed with the proper business rules in place to consolidate various sources.

As part of NOW: Pensions’ ongoing Data Governance Program, the company will soon be mapping access rights to each data view and using it as a centralized access control log.

“When we started our data governance project, we did not fully understand how our data was produced, transformed and, ultimately, used. We hadn’t mapped our data’s lineage or populated a data dictionary. Now, all that has changed. With Solidatus, our data estate is now mapped, modelled and catalogued. In a single view, I can show the business where their data resides, how it flows through systems and applications, what data quality rules apply and what data is subject to GDPR. Solidatus is central to the way that we govern data.” 

Phil Yeoman, Group CDO, Cardano and NOW: Pensions

Get in touch to find out how we can help you deliver on your governance program.

Find out how you can create a living blueprint that can provide you with the knowledge and context for better-quality decision-making, robust impact analysis and reduced program time, risks and costs. 

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Last week, NASA blew the world away with the first images from its James Webb Space Telescope. Promising to far exceed the wonder and quality of its predecessor, Hubble, the JWST has delivered a ground-breaking new view of our universe. These images have told the story of “the hidden universe through every phase of cosmic history” in a way that has never been seen by the naked eye of man.

A “singular and historic moment”, the JWST has and will continue to explore the depths of our solar system, as well as what lies beyond it and “the most distant observable galaxies in the early universe.”
Scientists believe that the data derived from this will answer questions mankind has asked for millennia, as well as questions we do not yet know that need to be asked. It will help us better understand neighbouring planets, the universe and our own place within it. The possibilities this opens up are, for us, utterly endless. The voyage of discovery that lies ahead will undoubtedly be as immense as space itself, and the value it will bring us as humans – for ourselves and our planet – will change the face of our lives and this world for generations to come.

Parallel data universes

And this got us thinking something a bit crazy – how different is the data of our universe, planets, exoplanets, galaxies and solar systems from the data of a business? Okay, we know this is a bit ambitious, but take a step back for a moment. Forgetting sheer size and scientific importance, there are many parallels to be drawn. The data that builds the fabric of an organisation is vast, rich and seemingly endless. The different facets and ecosystems of that data can be seemingly unfathomable to many trying to grapple with its complexities. Is understanding what exists beyond us in the deep, infinite spans of space really all that different to understanding one’s own data?

Businesses have a mammoth task ahead of them when it comes to data management. At its most complex, data can be messy, confusing and even misleading. But at its best, data can be a powerful force driving organisations forward – not only through compliance, but also innovation. Getting to this point in a data journey is no easy feat, though. It requires data quality, sound data governance and efficient data lineage to fully understand what data there is, how it is moving through an organisation, who it is available to and how it is reported on.

Achieving this requires more than just good will and a few strategically drawn up Excel spreadsheets. For this, you need the James Webb Space Telescope of data management. You need a tool that is going to not just show you your data in clear, HD view, but also show your metadata, how it is all moving, who is responsible and, most importantly, the value it can deliver to your business. Something that will reveal the data and findings you were looking for in a matter of minutes, rather than days, weeks or months.

Professor Gillian Wright, the British researcher who is co-principal investigator on one of Webb’s four infrared instruments said, “Whenever you look at the sky in a new way, you see things that you didn’t expect.”

Discovery is knowledge, and knowledge is power

When looking at your data through the lens of a Solidatus model, you can see it in a new way; in a way you might not have expected. It will answer questions you have been asking for years. It will give you solutions for the problems you knew you had, and those you didn’t. It will answer questions you hadn’t even thought to ask yet. It will take you on a journey through a solar system of data that orbits your organisation, uncovering hidden gems that can change the way you do business. It will tell your story, from inception to current day, showing you the way forward through innovation and creativity.

As the Director of UK Astronomy Technology Centre told BBC News about the James Webb Space Telescope, “…that’s telling you that the discoveries are just sitting out there waiting to be made.”

There are infinite discoveries to be made in an organisation’s data – whether you know it or not. There are new lessons to learn, new ways of working to uncover and boundless benefits not only for your own business, but for your clients too.

Knowing your organisation’s history and story through its data can change the way it operates forever. And there is no better way of knowing this than through Solidatus.

Discover your data solar system and the possibilities that lie beyond with Solidatus. Request a free demo today.

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At a recent keynote speech in London, Solidatus Co-CEO Philip Dutton said that “the demon of complexity is the thing we’re all struggling with.” But do the trappings of pivoting towards a more data-driven business really have to be so complex?

The answer to that, quite simply, is no. They don’t. In fact, having the right data blueprint can not only eliminate complexities but also support and accelerate growth. And at the A-Team Data Management Summit, Philip looked deeper into this.

Noting that we may not have control over certain events in the world that can change the very fabric of how we operate as businesses, countries and even people, we can position ourselves to be adaptable to change and even lay foundations for innovation.

In his keynote, Philip discusses:

  • how agility, innovation and disruption can be achieved
  • why this is so important as the digital world continues to transform at a rapid pace, and;
  • who can provide this kind of intelligible, future-proof blueprint

Watch on-demand now to hear his insights:

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“If we do our jobs right, we can save the planet.”

Our Co-CEO Philip Miller gave us some serious food for thought at the recent A-Team ESG Data & Tech Summit in London.

In his keynote speech, ‘7 things you need to know about ESG’, Philip talked us through the challenges of ESG as it stands today, how it is constantly developing and why it’s imperative organizations create and implement the right strategy to ensure future compliance.

He raised some insightful points for the audience to take away with them:

  • We need to live and breathe a data-driven culture in businesses, so that ESG becomes part of a holistic company mindset – making it everyone’s responsibility
  • Organizations have to publish a strategy that holds up to public scrutiny as the court of public opinion will come to bear on ESG initiatives
  • As our CDO, Lorraine Waters, said earlier during a panel discussion at the same event, “it’s difficult to model the ever-evolving regulations without the right tools”. The Solidatus solution can give you the control points to get good returns while helping you save the planet

Hear more from Philip by watching his keynote speech on-demand now:

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After a brilliant year of accolades and achievements, we are excited to announce that we have been named as the winners of two categories at the A-Team Data Management Insight Awards 2021.

For the second year in a row, we have won the ‘Best Data Governance Solution‘ which is a real testament to our transformative governance capabilities in the world of data management. Our data governance solution goes beyond basic management, adding different dimensions through powerful visualisations and this award truly cements that.

We have also been named as the winner of the ‘Best Graph Database Solution for Data Management‘ category. This is a new award for us, and we are immensely proud to have been recognised for our innovative work. In a complex digital landscape, having a visual representation of the connections that define and drive an organisation can be the differentiator between a successful enterprise and a failed one.

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Solidatus Co-CEOs & Co-Founders Philip Miller and Philip Dutton 

These wins come off the back of an amazing year for our company, having been named in the RegTech 100 2021, as the ‘Most Innovative Data Governance Initiative’ and ‘Best ESG Regulatory Solution’, and most recently as the 41st fastest growing technology company in the UK for the 2021 Deloitte Technology Fast 50 rankings.

We are sure 2022 will be equally as rewarding, and look forward to sharing it with our colleagues, partners, clients and industry peers. 

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Data management is a vital part of every organisations business strategy – but managing data is not as straight forward as it may seem, and at times financial institutions are finding themselves on the back foot when it comes to their approaches.

At the A-Team Data Management Summit Virtual USA, Solidatus CDO Lorraine Waters interviewed Scotiabank CDO Peter Serenita to learn more about his insights into reactive vs. proactive data management to drive growth and profitability.

Delving into the need to move to more proactive management, Peter comments on the importance of main drivers such as business outcomes, the reuse of data and time-to-market.

Business outcomes
Data teams need to focus on the fact that creating a data set is not the end game. The end game is business outcomes. And these outcomes need to be measured and monitored to ensure the business is getting the expected results. Successful outcomes will write the business case for the Data team.

Reuse of data
Think about the reuse potential and number of adoptions of the data as opposed to new provisions. Over time, re-use numbers will increase and this will help with time-to-market. The more a catalog of what data is available grows, the less need to provision on a delta basis. This reduces costs, time-to-market and cost of future projects.

Time-to-market
Consumers have different demands, and if a Data team does not recognise those demands and requirements, then a pivotal point has been missed and the time-to-market is prolonged and consumers will work around the Data team. It’s important for organisations to know their consumers and actually build to their requirements.

Looking at the current data landscape and to the future of data management, Peter remarks; “I think it’s a fantastic time to be a data professional. Data continues to take the front row now in terms of the importance people are placing on data within an organisation. Data doesn’t just support business – data is the business.”

To learn more, watch this fantastic discussion between two powerhouse CDO’s on-demand now:

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In this new series of thought leadership blogs, we will be looking at key areas of the global healthcare system, its pain-points and how Solidatus can help overcome these challenges.

As we move out of a restricted society, what does a post Covid-19 world look like for the healthcare industry and its data?

The pandemic has accelerated the digitalization process, with most organizations across the life sciences sector having to redesign their workflows to adapt to the new norm. In addition to digital growth, mergers and acquisitions (M&A) have proved to be a key trend to watch over recent decades – for example, it’s common to see big pharma leveraging these deals to power their pipeline and expansion needs.

Writing for Pharma’s Almanac (1), David Alvaro, Cynthia A. Challener & Emilie Branch explain that,

“… a biopharma company must spend $2 billion to $4 billion annually on R&D [Research & Development] to establish a meaningful pipeline of candidates. Over the long-term, most drug companies invest 20% of revenues in R&D. A revenue stream of greater than $10 billion is therefore needed to achieve successful organic growth”.

According to Informa (2), from 2010 to 2019, major biopharmaceutical deals were gathering momentum both in number and deal size, peaking in 2015 with a slight dip the following year and a continued increase until 2019.  

In 2020, Statistica (3) reports a drop in M&A with 895 deals initiated, versus 1,253 the previous year. However, PwC (4) outlined their M&A activity in the second half of 2020 saw an increase of 14% compared to the second half of 2019, detailing that, 

“… investors have maintained a high level of interest in the pharmaceuticals and life sciences (PLS) and healthcare services (HCS) sectors, particularly since the start of the pandemic. The sector’s historic position as a defensive refuge for investors during difficult economic times has helped attract new investor interest (for example, from infrastructure funds) and a lot of capital chasing a safe harbor. M&A deal activity and valuations are running high, and we expect this trend to continue for the next 12 to 18 months”. 

Building a digital roadmap
In an interconnected world, it is vital to understand who creates, manages and uses data – a significant challenge when a vast web of data systems come together in M&As. Having been involved as an employee in several acquired organizations myself, I have often observed that beyond cultural integration, the transition of data, processes and people were key for a successful collaboration.

When organizations come together for a shared purpose, it’s important they ask key questions:

  • How do we build a connected digital map of our organization’s data?  
  • How do we reduce complexity while driving efficiency for regulatory compliance, improved governance and transformational change? 
  • How do you design data management and conceptual modeling solutions that effectively manage data, people and processes? 

These are the questions we have been answering for major institutions in the largest data-rich and regulated industries across the globe. For organizations in transformation, Solidatus empowers them to derive actionable intelligence from data, facilitating change and analyzing its impact while solving the challenge of future-proofing the data ecosystem. 

Pharmaceutical company visualizes data flows with Solidatus

A global pharmaceutical company needed to understand its data landscape, create a single source of truth and meet regulatory demands.

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“Over the next few years, it’s going to be critical to get this right. Organisations that have it wrong are going to see share prices hit and investor confidence reduced. This is now so big and involved in every decision – right from the top of the house to the bottom – it’s going to be very expensive for organisations that do this at the last minute and get it wrong.”

Investment in ESG-progressive organisations is moving into the mainstream, requiring businesses to develop strategies that deliver for both themselves and their investors. But in a relatively immature market with complex and conflicting standards, how can we deliver successful data management strategies for ESG requirements?

Solidatus Co-Founder Philip Miller sat down with industry experts from Bloomberg, UBS, TD Asset Management and Alveo for the latest A-Team Insights webinar to discuss the biggest challenges and best practices around ESG data sourcing and management strategies.

The looked at these key factors in their discussion:

  • How 60% of respondents watching the webinar confirmed they are not currently ready to comply with forthcoming EU and UK ESG and sustainability regulations
  • When it comes to the emerging technologies designed to help organisations make the most of ESG data, it is essential to pick an agile platform that will keep pace with evolving learnings and understandings
  • Organisations who get their ESG data sourcing and management strategies wrong could see a hit to their share prices and reduced investor confidence – getting it right now will save businesses financially and operationally in the long run

Watch the webinar Data management for ESG Requirements to learn more:

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Our new Chief Data Officer, Lorraine Waters, caught up with Scotiabank VP and Chief Data Officer Allie Harris over a fireside CDO chat at the A-Team Insight Virtual Data Management Summit last week.

Discussing how to get customer data right to support regulatory compliance and a digital customer experience, Allie and Lorraine took a deep dive into capturing information around customer data by:

  • Ensuring all business lines that are touching the same customers have the same view, so that information is not siloed for business purposes
  • Pulling data together that will give you the opportunity to give clients options based on the standardisation and aggregation of data
  • Understanding how you can enhance the data for business values, instead of just looking at remediating data for regulatory compliance
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From using ontologies and knowledge graphs, to understanding how the entirety of a clients corporate structure shows potential opportunities for cross and up-sell, Allie and Lorraine looked at the gains of getting customer data right, the benefit of leveraging data standards and how technology is helping organisations understand and use their customer’s data.

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