To stay in compliance with rapidly expanding international, federal, and local anti-money laundering (AML) regulations and avoid what can be career- and business-ending consequences, companies face the seemingly Herculean task of investigating every suspicious financial transaction, which can number in the tens of thousands every single month.
Hadoop is fast becoming the center piece of a modern data architecture. And Cloudera Enterprise provides the centralized management and robust support that you need to effectively operate Hadoop.
The modern data architecture stores data as is; it doesn't require pre-modeling. It needs to accommodate volume, velocity, and variety including structured and unstructured information. Hadoop does this very well.
Data-driven organizations know that the key to success through data is to make it available to as many people across the organization as possible. But every organization’s data is growing at exponential rates and is getting more complicated. This growth and complexity make current data preparation processes more challenging and often inefficient.
To get the right data out to the right people as quickly as possible organizations need to focus improvements on reducing the time required to gather and prepare data.
Wayne Eckerson points out in a recent report that, "Business intelligence (Bl) is fueled by two opposing forces: top-down BI, in which the corporate IT group imposes standards on the delivery of data and reports to ensure a single version of truth, and bottom-up BI, in which business unit analysts create their own reports with custom data sets." Or more simply, it's the data warehouse folks versus the fans of Hadoop and the
We talk a lot of about the amount of data organizations capture and how that data comes in many sizes and formats, from structured to semi-structured and even unstructured. We also know that much of that data isn’t used for decision-making, hidden in silos across the organization. All of this makes it difficult to build a unified view of your data.
But the challenge with building a unified view is only partly due to data silos.
As Dan Woods points out in a recent article for Forbes, technology marketplaces cycle through predictable stages as they mature. He applies this insight to the component versus platform decision that organizations face when adopting new technologies.
In the month since FINRA announced total of $17 million in fines against financial adviser Raymond James and its financial services affiliate, two threads have circulated through social media. The first took note that broker-dealers were now squarely in the enforcement sights of regulators. The second focused on the piercing of the corporate veil and the penalties administered to James’ former AML Compliance officer.
If you're a CDO, how would you describe your most important role: as gatekeeper or innovator? Or are you walking a tight rope between the two? Those questions figured prominently at the 10th annual MIT Chief Data Officer & Information Quality Symposium held in July.