In the midst of the global recession, most businesses put a
lockdown on IT spending. No upgraded hardware or software, executives insisted,
until we find a way out of this mess. The problem — or the opportunity, if you’re
a software or hardware provider — is that IT infrastructure continued to age in
place, until the need for modernization became so pressing that businesses
began to open their wallets again.
The Oracle Financial Services Data Warehouse, unveiled Jan.
27, is supposed to play into the pent-up need for new and more modern data
warehousing — at least for financial institutions. Previous data-warehousing
models, the company argues, are growing more antiquated and unwieldy by the
week. As a replacement, Oracle Financial Services Data Warehouse offers
architecture pre-built for rapid deployment and designed to handle those
institutions increasingly complex number-crunching needs.
The platform leverages Oracle Exadata Database Machine for processing
those complex scenarios. Contextual data-quality checks, paired with the
automated removal of inconsistencies across ledgers and books, helps with the
inevitable accuracy and consistency issues that arise within a financial
institution.
"Improving the quality and consistency of decisions is a
renewed priority for major industries," Henry Morris, a senior vice president
at research firm IDC, wrote in a Jan. 27 statement provided by Oracle, "as
enterprises need to get a better handle on their risk exposure, ensure that
they comply with new regulations, and gain the maximum return for each customer
interaction."
For more, read the eWeek article: Oracle Financial Services Data Warehouse Aimed at Financial Firms.
