Data Virtualization is the technology that can help organizations address the growing challenges in accessing, integrating, and provisioning the data that is needed from various data sources for stress tests and for regulatory reporting. Instead of relying on complex, manual processes to control and deliver application data, data virtualization allows IT to automatically deliver virtual copies of production data for non-production use cases.
Data virtualization provides a virtual approach to accessing, managing, and delivering data without replicating it in a physical repository.
Virtual data can be accessed at any time for testing, can be bookmarked and retrieved to meet audit requests, and rewound to reconcile errors. This results in banks being able to significantly improve their stress testing coverage, optimize business risks, and extract the maximum efficiency out of their capital.
The combination of data modelling and data virtualization in a single platform can efficiently address current business challenges.
Data Virtualisation can provide the foundation for Digital transformation by helping banks:
Create a sophisticated data service to easily share data within and across facilities in real-time
Ensure business continuity amidst technology evolution
Enable governance and control for data management
"Through 2022, 60% of all organizations will implement data virtualization as one key delivery style in their data integration architecture."
Gartner Market Guide for Data Virtualization, 2018
How it works
Connect
It can connect to a variety of data sources including databases, data warehouses, cloud applications, big data repositories, and flat files. It supports both structured and unstructured data.
Combine
It combines all data , performs complex data transformations and creates a normalised view of this data.
Consume
Users are able to use this data through the self-service portal for testing, analytics etc
Faster design, deployment, and data management with zero coding
Fully test software and APIs, using virtual data which covers every possible user journey
Eliminate project delays by having access to the secure environments as required by distributed teams.
Visualize live and legacy systems, so that testers and developers gain the in-depth understanding they need to perform their activities.
Migrate from on-premises applications to cloud applications.
Comply with regulations that require the traceability of historical data.
One of the most important benefits is the reduction of storage space required, which also means significant reduction in costs to setup and maintain the test environments and infrastructure.
The ROI of Data Virtualization
300%
Increase in business user productivity
80%
Reduction in development resources
50%
Time savings over traditional integration methods
30%
Reduction in IT operational costs
10x
Acceleration of data delivery, using data services
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