Data and Information constitute the basic elements of the foundation of running a business in today’s day and age. The real competitive advantage lies in how companies source, process, analyse and make effective use of data about their customers and their buying behavior, their employees and their operational performance, their suppliers and their supply chain efficiency, and their competitors and their market moves
In the compliance arena, again, data plays a very important role in being able to measure how the company is complying with regulatory directives and to provide frequent reports to the Regulators to establish and demonstrate that the organization is meeting the required norms
Based on the complexity of the regulatory reports required, the MIS / IT department needs to understand and plan for which Sources of data need to be tapped, from where the data needs to be extracted, how does it need to be processed and transformed, and how does it need to be stored in a central data warehouse. This requires making use of data modeling and architecture skills as well as knowledge of tools and platforms in the ETL technology space, with specific relevance to the compliance directive requirements in mind. SCS Data Technology Practice has experts who can help our client teams demystify the ETL landscape and help quickly and effectively implement the appropriate solutions
Once the data is available in the warehouse, it needs to be appropriately processed into specific Data marts that can feed desired Regulatory reports or for more complex requirements alternative approaches need to be created to ensure that the right calculation models receive the right datasets to be able to generate the right regulatory reports. This requires specialist competency in the Data warehouse and Reporting/ BI technology space, with the knowhow of the required regulatory requirement. Our Data Technology Practice has specialized Business Intelligence experts who work with client teams to ensure that the Regulator’s reporting requirements are comprehensively understood and met
For more information, please write to our experts at data.practice@scs-emea.com or use our Enquiry form