Xenomorph Market Data Use Analysis provides a set of configurable end-user dashboards giving oversight on data consumption – and its cost implications – attributable to users, systems and departments. This can apply to historic data across the firm, or active requests to highlight potential actionable efficiencies, allowing for a full reconciliation against vendor billing.
Market Data Use Analysis enables data managers to control, assign and optimize their data costs, and ultimately gain control on their data budget.
- Emulate charging mechanisms to attribute costs across your firm
- Easily dissect fees across various dimensions – from an individual field to a file, application, or department
- Reconciliation against Data Vendor invoices
- Analysis can be applied both to historic records and active requests
MANAGING DATA USAGE
Managers need to be able to track data items as they flow through their systems. They need to know what users or systems are consuming any given set of fields, which fields are not being consumed by any users/systems, and how is this changing over time.
Market Data Use Analysis provides insight and control for data managers. Fields that are not being consumed can be highlighted for investigation, as it may be that they can be switched off. Users and systems that are not consuming data can be identified, as it may be that their access rights can be reduced. Sources are consolidated and normalised to the same schema, enabling firms to select fields based on pricing favourability, or make requests from multiple sources to satisfy their internal data policy.
Data vendors have different approaches to charging fees to their clients, and a single vendor can have a variety of different products each with its own unique charging mechanism. Some vendors also have different methods for a single product – such as Bulk, Ad-Hoc and Scheduled – and many firms may actually have a mix of these.
Market Data Use Analysis emulates these charging mechanisms, enables the recording and reporting of the data consumed, and analyses the monetary cost. This provides managers with the ability to analyse fees across various dimensions – from an individual field, to a file, system, or department. Such analysis can be applied both to historic records of consumption and to current downloads to estimate the cost of a proposed request.
COST ALLOCATION MODELLING
Market Data Use Analysis provides cost allocation modelling dashboards that enable a data set to be traced to its consumers, measured across a given interval of time, e.g. a calendar month, and a cost allocated to each of the consumers using billing methods stored within the system.
These reports assist data officers in creating usage metrics and internal billing across their organisation that more accurately reflect the true costs of both the raw data, and of the subsequent internal processing that creates the gold copy values.