As both regulatory oversight and data governance have become acknowledged considerations in buy-side strategic business planning, the spotlight is now shining on the provenance and lineage of the data being sourced, manipulated and consumed. The ability to store and retrieve data in its original ‘as-delivered’ state (prior to any downstream processing or transformation) and to have the flexibility to query, analyze and demonstrate control of that data in a timely manner, are areas many firms find challenging.
There is an alternative to archiving data in-house, with its attendant costs and risks. Enabling access to, and analysis of the original ‘as-delivered’ data will transform the confidence in the provenance, lineage and quality of your data.
RIMES offers a two-part solution for subscribers to RIMES Managed Data Services (MDS). The RIMES Feed Audit & Analytics services continue our commitment to enhancing the capabilities and benefits of RIMES MDS.
- RIMES Feed Audit
The Feed Audit service creates an instance of every data file you receive from RIMES as part of your managed data service and archives them in the secure RIMES cloud-based repository. A chronological archive of all ‘as-delivered’ benchmark and reference data files is built over time, ensuring you have a definitive and accessible audit trail of all files received from RIMES.
- RIMES Feed Audit Analytics
The RIMES Feed Audit Analytics is a suite of analytical tools that reference your data feed archive in Feed Audit. The tools are accessed through the RIMES Excel toolbar and provide an array of functions for analyzing chronological instances of RIMES data feeds – both intraday reissuances of feeds and inter-day changes to fields and content. Building on the RIMES Feed Audit service, the Feed Audit Analytics dedicated tools enable you to thoroughly analyze all the data deliveries without needing specialist IT or database administration expertise.
Strategic benefits of the RIMES Feed Audit & Analytics
Online access to your data feed archive, coupled with value-added analytics. By providing our MDS clients with an online archive of their ‘as-delivered’ feeds and the ability to analyze changes over time, RIMES delivers the following benefits:
- Regulatory compliance: To meet the emerging & established regulatory demands for data auditing
- Improved data governance: Access to a trusted source of ‘as-delivered’ data enabling easy evidence of data provenance
- Improved traceability: Through a secure archive and tools that evidence the lineage of your data feeds
- Greater efficiency: Less time spent requesting and waiting for the relevant data to be retrieved from internal databases, enabling faster troubleshooting
- Greater insight: Quick understanding of how key aspects of your RIMES data have changed over time
- Better service to internal data owners: Enables faster response time to client or stakeholder data queries
- Greater reliability: Along with your internal data back-up and storage practices, RIMES Feed Audit adds another level of confidence that the data you need will be there when you need it, and accessible quickly, easily and at any time.