Data reports are produced in fraction of the time with new automated data warehouse
Paralucent was brought in to develop and integrate a complex automated Data Mart/data warehouse for a major bank’s institutional investment group, which up to this point was accessing reports that took 40 hours to produce every month. The data warehouse was to give the senior leaders quick access to timely and relevant financial information through a series of drill-down reports that would allow them to have a monthly view of their business, including how it compared to that of their competitors.
Why the client partnered with Paralucent
The bank had previously partnered with Paralucent and had relied on the company’s expertise in automating and simplifying complex systems.
The legacy systems were outdated and cumbersome. They pulled data from a total of 12 different source systems, which resulted in inconsistencies of information, and time-consuming difficulties in troubleshooting such inconsistencies.
The first steps involved discovery related to data governance, current practices, systems and desired user experience and outcomes. Through extensive data analysis, it was determined that some source systems could be cut, so that extraneous information and “noise” could be eliminated. Next, the Data Mart was built and automated. Project services included architecture, project management—and development and training that allowed for the bank to maintain the Data Mart going forward.
The reports, which had taken 40 hours a month to produce, were automated so that they are now automatically generated in less than 15 minutes saving over 500 hours of manual effort per year.