Investment Management Group Uses SAND Technology's SAND/DNA Suite to Optimize Data Management Processes and Ensure Data Quality
Montreal, Canada – June 1, 2009 SAND Technology Inc. (OTCBB: SNDTF.OB), an international provider of data management software and best practices, announced today that a major investment management group has selected the SAND/DNA software suite to optimize critical data management processes and address data quality issues.
The company, which manages a substantial portfolio of individual investment accounts, urgently needed to correct data errors that were resulting in inaccurate recording and reporting of transactions. They chose to implement SAND/DNA Analytics high-performance data analytics software to process system update logs for analysis and cleansing, and SAND/DNA Access Nearline 2.0 software to store and manage historical database “snapshots” that can be made quickly available for analysis when required. Implementation of the SAND/DNA solution has given the organization the ability to identify and rectify systemic errors in updated data, and also substantially reduced storage, processing and time requirements for key data management processes. This has increased operational performance and efficiency while maintaining the flexibility to accommodate any future changes to update routines and data structures. Specifically, data footprints have been reduced by 95% in SAND/DNA Access and by 67% in SAND/ DNA Analytics, while the size of the largest reports on processed logs has decreased from 2000 pages to 10 pages, bringing savings of two person-days per month. Log reporting times have been reduced from 23 hours per month to less than five minutes per month, and the time required to build the historical database snapshots has dropped from a week to a few hours.
“We are very pleased to have this major investment management group as a customer”, said Linda Arens, Vice President, Marketing for SAND Technology. “Organizations in the financial services industry are facing exponential growth in the amounts of data they need to manage, and SAND/DNA products have been specifically designed to provide fast, flexible management and analysis of large and continuously growing data volumes. With their SAND/DNA solution, the investment management group has been able to quickly address their urgent data quality issues, and is now well prepared to deal with the ongoing challenge of the data explosion.”
SAND/DNA enables enterprise customers in all industries to cost-effectively retain massive amounts of compressed data in a nearline repository for extended periods, in accordance with any applicable business rules and regulatory requirements, and to rapidly retrieve information when needed. A centralized data management solution with unparalleled performance and storage efficiency, the SAND/DNA suite dramatically reduces costs and management complexity while ensuring continuous data availability. Organizations can create data marts on demand to respond to any analytic requirement with all enterprise data — current or historical, detailed or summarized. SAND/DNA’s advanced information management technology compresses data to typically 10 percent of its original size, while giving users the ability to query any attributes of the data without decompressing it first. This next-generation capability is ideal for satisfying enterprise compliance requirements as well as for leveraging valuable information in data warehouses.