A leading global financial institution, with more than 47 million consumer and business customers and 4,500 retail centers around the world, wanted to create a central data marketplace for its enormous volumes of data so that it can more easily be accessed by IT teams and various lines of business for data and analytics initiatives.
The organization had a very complex data environment with data siloed across 5000+ transaction systems. Due to data sprawl, it was taking months to source over 5PB of data for analytics. As a first step towards its ultimate goal of creating a centralized self-service “data marketplace”, the company needed to collect and integrate metadata from a multitude of different databases, systems and files, as well as standardize the tagging of data to help ensure data governance and quality.
In the initial phase of the project, Arena automated and operationalized data ingestion and many post-ingestion tasks such as data enrichment to rapidly and consistently catalog existing data. In addition, Arena automated application of the technical, operational, and business metadata required for data governance and tracked data lineage to ensure data quality and integrity. To make the bank’s central data marketplace a reality, Arena provided self-service data preparation and provisioning through the augmented data catalog, allowing end-users to find and provision trusted data to their target destination of choice.
The organization is leading the industry in the sophistication of its data initiatives, with its commitment to automation, standardization, and advanced data profiling and cataloging. Arena’s augmented data catalog serves as the foundation for the organization’s self-service “data marketplace”, giving data consumers across lines of business quick and easy access to find, prepare and provision high-quality data, reducing time to analytics from 3 months to 6 days. The bank has over 1000 users on the Arena platform, delivering high-value data quickly and easily.