Hitachi Vantara (Hitachi) Case Studies MarketAxess Enhances Data-Driven Decision-Making with Lumada Data Integration

	MarketAxess Enhances Data-Driven Decision-Making with Lumada Data Integration Hitachi Vantara (Hitachi)

MarketAxess Enhances Data-Driven Decision-Making with Lumada Data Integration

Hitachi Vantara (Hitachi)

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Finance & Insurance
Use Cases	Time Sensitive Networking
Services	System Integration
Challenge	MarketAxess, a fintech company with a digital trading platform used by over 1,800 financial institutions, needed to strengthen its ability to make data-driven decisions. The company's Credit and Market Risk team was responsible for providing accurate and fast reporting to support optimized decision-making across the business. However, they faced challenges with their existing ETL (Extract, Transform, Load) solutions, which were inadequate for quickly and easily consolidating data from a plethora of different sources for analysis. The team needed a solution that could simplify data consolidation and analysis, thereby reducing business risk and improving the efficiency and quality of critical business reporting. Read More
About Customer	MarketAxess is a fintech company that has revolutionized the buying and selling of bonds through its digital trading platform. Since 2000, the company has been providing transparency into global markets with its AI-based predictive pricing solutions. Its award-winning platform is used by more than 1,800 financial institutions. The company's business leaders rely on accurate and fast reporting to make informed decisions. The Credit and Market Risk team at MarketAxess is responsible for providing these reports and developing data analysis strategies to support optimized decision-making across the business. Read More
Solution	To address this challenge, MarketAxess rolled out Lumada DataOps: Data Integration and Analytics powered by Pentaho technology in January 2022. The solution was initially set up using the Pentaho Community Edition, and the company is now transitioning to the Enterprise Edition. The Credit and Market Risk team uses Data Integration and Analytics to aggregate and transform data from various sources, including Oracle databases and APIs connected to vendor solutions. The solution allows the team to set parameters to run iterative jobs and gain a clear view of enterprise data. The ultimate goal is to deploy the solution to teams globally, enhancing the company's ability to make data-driven decisions and improving its competitive advantage. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Finance & Insurance

Use Cases

Time Sensitive Networking

Services

System Integration

Challenge

MarketAxess, a fintech company with a digital trading platform used by over 1,800 financial institutions, needed to strengthen its ability to make data-driven decisions. The company's Credit and Market Risk team was responsible for providing accurate and fast reporting to support optimized decision-making across the business. However, they faced challenges with their existing ETL (Extract, Transform, Load) solutions, which were inadequate for quickly and easily consolidating data from a plethora of different sources for analysis. The team needed a solution that could simplify data consolidation and analysis, thereby reducing business risk and improving the efficiency and quality of critical business reporting.

About Customer

MarketAxess is a fintech company that has revolutionized the buying and selling of bonds through its digital trading platform. Since 2000, the company has been providing transparency into global markets with its AI-based predictive pricing solutions. Its award-winning platform is used by more than 1,800 financial institutions. The company's business leaders rely on accurate and fast reporting to make informed decisions. The Credit and Market Risk team at MarketAxess is responsible for providing these reports and developing data analysis strategies to support optimized decision-making across the business.

Solution

To address this challenge, MarketAxess rolled out Lumada DataOps: Data Integration and Analytics powered by Pentaho technology in January 2022. The solution was initially set up using the Pentaho Community Edition, and the company is now transitioning to the Enterprise Edition. The Credit and Market Risk team uses Data Integration and Analytics to aggregate and transform data from various sources, including Oracle databases and APIs connected to vendor solutions. The solution allows the team to set parameters to run iterative jobs and gain a clear view of enterprise data. The ultimate goal is to deploy the solution to teams globally, enhancing the company's ability to make data-driven decisions and improving its competitive advantage.

Impact #1	The implementation of Lumada DataOps: Data Integration and Analytics has significantly improved MarketAxess's ability to make data-driven decisions. The solution has enhanced the company's agility and competitive advantage by enabling faster data analysis. When the CEO or CRO (Chief Risk Officer) requests a complex analysis to understand risk-reward and support business decisions, the Global Credit and Market Risk team can now easily pull together the necessary data. The solution has also reduced ETL development time by around 70%, significantly improving the team's efficiency. Once the solution is rolled out more widely, MarketAxess will be able to leverage data to improve sales more easily, contributing to the company's ongoing growth.

Impact #1

The implementation of Lumada DataOps: Data Integration and Analytics has significantly improved MarketAxess's ability to make data-driven decisions. The solution has enhanced the company's agility and competitive advantage by enabling faster data analysis. When the CEO or CRO (Chief Risk Officer) requests a complex analysis to understand risk-reward and support business decisions, the Global Credit and Market Risk team can now easily pull together the necessary data. The solution has also reduced ETL development time by around 70%, significantly improving the team's efficiency. Once the solution is rolled out more widely, MarketAxess will be able to leverage data to improve sales more easily, contributing to the company's ongoing growth.

Benefit #1	Reduced time spent on ETL (extract, transform, load) by 70%
Benefit #2	The solution was set up in less than an hour
Benefit #3	The solution is used by the Credit and Market Risk team and is planned to be rolled out to teams globally

Benefit #1

Reduced time spent on ETL (extract, transform, load) by 70%

Benefit #2

The solution was set up in less than an hour

Benefit #3

The solution is used by the Credit and Market Risk team and is planned to be rolled out to teams globally

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Overview

MarketAxess Enhances Data-Driven Decision-Making with Lumada Data Integration

Operational Impact

Quantitative Benefit