Watch full webinar here: https://bit.ly/3egOGfr
Logical data fabric, the theme of DataFest 2021, is an exciting new development in data architecture and management, and it is already delivering dramatic benefits in terms of business acceleration and agility. But how did logical data fabric come about, and how can logical data fabric be used to build industry-focused solutions?
In this presentation, Sathish TK, CTO at IQZ Systems, a global technology solutions company, will provide an introduction to logical data fabric, and then discuss specific IQZ solutions for financial services and insurance that are based on logical data fabric.
You will learn:
- What percentage of the available data is actually used for analysis, on average, using traditional data integration strategies
- The benefits of logical data fabric
- The main deployment options for logical data fabric
- How one IQZ financial services customer established golden records for complex data entities by leveraging logical data fabric
- How IQZ leveraged logical data fabric to create a life policy status tracker application
2. #DenodoDataFest
Logical Data Fabric – Value and Implementation
Scenarios in Financial Services & Insurance
CTO
IQZ Systems
sathish.tk@iqzsystems.com
sathish.tk@iqzsystems.com
Sathish TK
6. What is Data Fabric?
Data fabric enables frictionless access and sharing of data in a
distributed data environment. It enables a single and consistent data
management framework, which allows seamless data access and
processing by design across otherwise siloed storage
-Gartner
10. Benefits of Logical Data Fabric
•Unified DM across on-premises, cloud, edge and hybrid-cloud
•Reliability of inter-connected data across disparate sources
•Reduce integration complexity
•Enhance data accessibility with security guardrails + governance
•Self-service data services & Unified metadata
•Flexibility in Data Delivery
•Real time decisioning (AI/ML, Visual Analytics & Insights)
12. Data Fabric Deployment Options
•On-premises
•Cloud
•Hybrid (Cloud/on-premises)
•Multi-cloud
13. Financial Services Use Cases
Investments – Real time consumption of investment data (funds &
stocks) from multiple internal and external sources.
Visual Analytics for Assets under management, timely campaigns based
on market conditions, and investment cross-sells
•Insurance
•Mortgage
•Non-Regulated Products
14. Insurance Use Cases
•New Business
•Policy Operations
•Claims
•Customer Service
•Mortality Studies
18. Case Study: Achieve SSOT (Golden Record)
using Logical Data Fabric
The client is a financial services company that offers life insurance,
mutual funds, mortgage, annuities, and other financial products,
distributed primarily on behalf of third parties. The client has many
subsidiaries which offers investment and savings products, brokerage
services, and registered investment advisory.
19. Property of IQZ systems. 2
Business Scenario
• Multiple data sources and varied CRUD operations on data sources
• Validation needs to be done at each source
• Downstream systems depend on this data for analytical and operational needs
• Lot of manual hours spent on data validation
• Numerous ETL jobs to move, transform and enrich data
20. Property of IQZ systems. 3
Future State
• Move towards a golden record model
• Ability for downstream systems to consume the data in different formats
• Scalability & Security to accommodate data volume and variety
• Enrichment and data validation to be done at semantic layer
• Reduce the number of ETL jobs and move to near real-time consumption
21. Property of IQZ systems. 5
Downstream system Validation and
Data enrichment happens at each of
this system
Current Data Flow
ETL
Downstream system Validation and
Data enrichment happens at each of
this system
Downstream system Validation and
Data enrichment happens at each of
this system
Downstream system Validation and
Data enrichment happens at each of
this system
ETL & Delimited files
22. Property of IQZ systems. 5
Modernized Data Flow
ETL
Logical Data Fabric
Connect to different source.
Enrich data, data validation, data
masking, and different publishing
options.
23. Property of IQZ systems. 6
Benefits
• Ability for business to easily identify available data sets for consumption using data catalogs
• Development time for data as service drastically reduced
• Data validation and enrichment done at semantic layer enables using a common data fabric to disperse
specialized data sets for different downstream systems
• Reduce integration jobs and enable near real-time data consumption
• Apply security guardrails at a data virtualization layer irrespective of the data sources
24. IQZ SNAPSHOT (IQZSYSTEMS.COM)
Data &
Analytics
Application
Modernization
Core Solution
Areas
Operations
Key Highlights
Instrumental in deploying
Repeat Client Business
Modern Workplace
100+ 90%
Digital Applications Architects and Developers
Companies
Fortune 500
Hashicorp
GCP
Denodo
Pega
Microsoft
Customers / Industry
Partner
Ecosystem
Sri Lanka
INDIA
Atlanta, GA
24*7 Global
Delivery Model
3 Countries
Certified
Insurance, HealthCare,
Auto, Oil & Gas,
Educational Sectors
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