Andrew Barnett, global head of product strategy at RIMES Technologies, focuses on how firms must move beyond enterprise-wide data management (EDM) systems and massive data warehouses.
The tide is turning against enterprise-wide data management (EDM) systems and massive data warehouses, says Andrew Barnett, global head of product strategy at RIMES Technologies, via an FTF Exchange podcast.
In fact, Barnett says that the requests for information (RFIs) and requests for quotation (RFQs) are trending away from EDM and warehouse projects and toward hosted and managed services arrangements.
“I think that’s come about for a number of reasons. I think the past couple of decades data management, data governance — whether it’s centralized or federated — has been topical,” Barnett says. “I think you will find very few instances where people have said, ‘I have implemented some technology whether it’s ETL [extract, transform, load], data warehouse or EDM, and they have been held to some kind of acclaim especially inside the organization.’
“And the other side of that is what we’re probably seeing with the implementation of these technologies is they don’t have, I guess, the nimbleness, the flexibility to adjust to an environment these days where they have so much pressure coming at them,” Barnett adds.
Firms have had to deal with many pressures at once: the operational and staffing challenges caused by pandemic-induced lockdowns, the related market volatility, and the onset of fee compression models, Barnett says.
The sum of these setbacks is that many firms have wound up with data warehouses and EDM projects that are incomplete. “Yet the budgets and the spend against them have been astronomical,” Barnett says.
In the podcast, Barnett also covers:
- Data imprisoned by an enterprise-wide system;
- Ways to redefine processes and data landscapes;
- Sorting out what’s next for ETL tools, warehouses, and platforms;
- Breaking points of rising EDM costs, high headcounts, budget cuts and Ops bottlenecks;
- Whether cloud computing is counter-intuitive for data management across the enterprise;
- And the potential of cutting-edge capabilities such as agile data management.
RIMES Technology won the Best Ops Data Management Solution award for 2020 via the FTF News Technology Innovation awards competition.