Name: Building data fabric systems to enable enterprise
Uploaded: 2022-02-03T12:36:47.107Z
Duration: 358.93
Description: Global Head of Product and Industry Marketing at InterSystems, Joe Lichtenberg, explores the future of organising complex data management systems - enterprise data fabric.

Building data fabric systems to enable enterprise.vtt

English

{{00:00:19}}
There's a recognition by many
organisations, as well as the industry

{{00:00:25}}
technology analysts, that there's
this emerging reference architecture.

{{00:00:31}}
It combines a number of different
technologies to provide the

{{00:00:34}}
organisation with access to clean
harmonised data from across the

{{00:00:40}}
organisation that they can use for
decisions support, for compliance

{{00:00:44}}
functions, for recording on enterprise
risk, for automating end-to-end

{{00:00:48}}
processes both internally as well as
externally, to accelerate in speed

{{00:00:56}}
development of new externally facing
services for customers and so on.

{{00:01:02}}
And it's called an
enterprise data fabric.

{{00:01:04}}
So if you see on the left from
Gartner, a screenshot from Gartner,

{{00:01:09}}
the large technology analyst firm.

{{00:01:11}}
Gartner says that an enterprise data
fabric is a future of data management.

{{00:01:17}}
Similarly, Forrester, another very
large, well respected technology

{{00:01:23}}
analyst firm publishes a wave
report, which is similar to the

{{00:01:28}}
Gartner Magic Quadrant, specifically
on an enterprise data fabric.

{{00:01:33}}
And an enterprise data
fabric is not a product.

{{00:01:36}}
You can't just go buy one.

{{00:01:39}}
It's a reference architecture that
financial services organisations

{{00:01:44}}
are implementing and it incorporates
many different data management

{{00:01:50}}
functions and technologies in
order to collect and integrate

{{00:01:57}}
data and make accurate, integrated,
harmonised data available for the

{{00:02:04}}
business in real time, on demand.

{{00:02:07}}
So it's not yet another data store.

{{00:02:11}}
It's not a data warehouse.

{{00:02:13}}
It's not a data lake.

{{00:02:15}}
Although those are typically
data sources that feed into it.

{{00:02:19}}
It's this dynamic data fabric or data
layer that allows a business to get

{{00:02:25}}
access to the data that it needs in
real time, on demand, as it's needed.

{{00:02:33}}
So we see this being used as the
foundational layer or architectural

{{00:02:40}}
approach for many different
kinds of initiatives with our

{{00:02:45}}
financial services customers.

{{00:02:47}}
Both defensive around risk and
visibility and transparency and so

{{00:02:53}}
on and so forth as well as offensive
and more strategic initiatives.

{{00:02:58}}
And so I wanted to call out
some of the use cases that

{{00:03:00}}
we're seeing with our customers
that make use of this approach.

{{00:03:05}}
So business management reporting,
being able to provide the business

{{00:03:10}}
heads with access to the data that
they need, that is not delayed and

{{00:03:18}}
the ability to introspect and drill
into and navigate on the data as

{{00:03:24}}
needed to help them with visibility
and to make better business decisions

{{00:03:29}}
in real-time or near real-time.

{{00:03:31}}
Certainly around regulatory
reporting, for example, digital

{{00:03:35}}
regulatory reporting which is
gaining traction right now.

{{00:03:39}}
Certainly around enterprise risk
and liquidity, being able to

{{00:03:45}}
understand and have visibility
into data from all aspects of

{{00:03:51}}
the business around risk levels.

{{00:03:56}}
Open banking initiatives, especially
now with access to services and data,

{{00:04:02}}
not only inside the organisation,
but outside the organisation as well.

{{00:04:08}}
And being able to participate
in those ecosystems.

{{00:04:12}}
And we also see firms are providing
data as a service and application

{{00:04:19}}
functionality or services as a
service available via a public

{{00:04:25}}
API and just a whole slew of
digital transformation initiatives.

{{00:04:31}}
So the trick is, how can you speed and
simplify the development of these kinds

{{00:04:37}}
of initiatives and applications that
need to pull data from many different

{{00:04:44}}
silos for things like dynamic business
management reporting, with less effort

{{00:04:49}}
and lower total cost of ownership.

{{00:04:52}}
And that's where a modern
data platform can help.

{{00:04:56}}
So the best data platforms available
in the industry right now are providing

{{00:05:03}}
many of the underlying capabilities
that are needed to help you centrally

{{00:05:08}}
build a smart enterprise data fabric
and providing these capabilities in

{{00:05:14}}
a single platform, so that you don't
need to select an integrating chain.

{{00:05:18}}
There are so many
different point solutions.

{{00:05:21}}
So one, no one product does everything.

{{00:05:25}}
It is a reference architecture
that you do need to build,

{{00:05:29}}
based on your data sources and
requirements of your business.

{{00:05:33}}
But doing so, and using a modern
data platform, can simplify the

{{00:05:39}}
architecture, can reduce the
number of moving parts in the

{{00:05:45}}
data fabric and ultimately help
you accelerate these efforts and

{{00:05:50}}
get to business value faster.

There's a recognition by many
organisations, as well as the industry

technology analysts, that there's
this emerging reference architecture.

It combines a number of different
technologies to provide the

organisation with access to clean
harmonised data from across the

organisation that they can use for
decisions support, for compliance

functions, for recording on enterprise
risk, for automating end-to-end

processes both internally as well as
externally, to accelerate in speed

development of new externally facing
services for customers and so on.

And it's called an
enterprise data fabric.

So if you see on the left from
Gartner, a screenshot from Gartner,

Gartner says that an enterprise data
fabric is a future of data management.

Similarly, Forrester, another very
large, well respected technology

analyst firm publishes a wave
report, which is similar to the

Gartner Magic Quadrant, specifically
on an enterprise data fabric.

And an enterprise data
fabric is not a product.

It's a reference architecture that
financial services organisations

are implementing and it incorporates
many different data management

functions and technologies in
order to collect and integrate

data and make accurate, integrated,
harmonised data available for the

Although those are typically
data sources that feed into it.

It's this dynamic data fabric or data
layer that allows a business to get

access to the data that it needs in
real time, on demand, as it's needed.

So we see this being used as the
foundational layer or architectural

approach for many different
kinds of initiatives with our

Both defensive around risk and
visibility and transparency and so

on and so forth as well as offensive
and more strategic initiatives.

And so I wanted to call out
some of the use cases that

we're seeing with our customers
that make use of this approach.

So business management reporting,
being able to provide the business

heads with access to the data that
they need, that is not delayed and

the ability to introspect and drill
into and navigate on the data as

needed to help them with visibility
and to make better business decisions

Certainly around regulatory
reporting, for example, digital

regulatory reporting which is
gaining traction right now.

Certainly around enterprise risk
and liquidity, being able to

understand and have visibility
into data from all aspects of

Open banking initiatives, especially
now with access to services and data,

not only inside the organisation,
but outside the organisation as well.

And being able to participate
in those ecosystems.

And we also see firms are providing
data as a service and application

functionality or services as a
service available via a public

API and just a whole slew of
digital transformation initiatives.

So the trick is, how can you speed and
simplify the development of these kinds

of initiatives and applications that
need to pull data from many different

silos for things like dynamic business
management reporting, with less effort

And that's where a modern
data platform can help.

So the best data platforms available
in the industry right now are providing

many of the underlying capabilities
that are needed to help you centrally

build a smart enterprise data fabric
and providing these capabilities in

a single platform, so that you don't
need to select an integrating chain.

There are so many
different point solutions.

It is a reference architecture
that you do need to build,

based on your data sources and
requirements of your business.

But doing so, and using a modern
data platform, can simplify the

architecture, can reduce the
number of moving parts in the

data fabric and ultimately help
you accelerate these efforts and

Explainer

Global Head of Product and Industry Marketing at InterSystems, Joe Lichtenberg, explores the future of organising complex data management systems - enterprise data fabric. 

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Joe Lichtenberg

Global Head of Product and Industry Marketing  

"An enterprise data fabric is not a product. You can't just go and buy one." Lichtenberg describes data fabric and the many function it incoporates.

What is data fabric?

Business management reporting and regulatory reporting are just a few of the applications Lichtenberg lists for smart data fabric.

Applications for data fabric

Joe explains that the best data platforms in the industry are providing many of the capabilities that you need in order to build a smart enterprise data fabric.