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Modernizing Financial Services Analytics
Discover how our data and analytics solution transformed a company's data management process, real-time analytics, decision-making processes, whilst driving growth.
Our Client,a well-recognised financial service company, faced challenges in managing and analyzing large volumes of customer data from multiple sources. They needed a scalable and cost-effective solution to consolidate their data, enable real-time analytics, and improve decision-making processes.
About Client
Our Client,a well-recognised financial service company, faced challenges in managing and analyzing large volumes of customer data from multiple sources. They needed a scalable and cost-effective solution to consolidate their data, enable real-time analytics, and improve decision-making processes.
Business Background
Our Client,a well-recognised financial service company, faced challenges in managing and analyzing large volumes of customer data from multiple sources. They needed a scalable and cost-effective solution to consolidate their data, enable real-time analytics, and improve decision-making processes.
Challenges
Their existing systems and processes were outdated and unable to handle the growing volume and complexity of data. The key challenges they encountered were:
- Outdated Data Infrastructure: Their AWS environment were not properly designed to handle large volumes of data or support modern analytics techniques. This limited their ability to extract valuable insights from their data.Before selecting Amazon Quicksight.They considered alternative BI solutions,including on-premises deployment and other cloud-based tools.
- Data Silos: The Client's data was scattered across multiple systems and departments, leading to data fragmentation and inconsistencies. This made it difficult to obtain a unified and accurate view of their operations.
What is Cloud Migration?
Cloud Deployment Models
3-Step Cloud Migration Process
How Qucoon helped
- Modernized Data Infrastructure: We established a centralized data lake on Amazon S3, providing our client with a scalable and cost-effective solution for storing and processing their vast amounts of structured and unstructured data. The data lake allowed them to consolidate data from various sources, facilitating easier access and analysis.We collaborated closely with them to understand their data requirements and design an appropriate data lake architecture. This involved identifying the types of data to be stored, defining data structures, and determining data ingestion methods.
- Data Extraction: We utilized AWS Database Migration Service (DMS) to migrate data from client's on-premises Microsoft SQL Server to the Amazon S3 data lake. DMS provided a reliable and efficient mechanism to extract data from the source system and load it into the data lake, ensuring data integrity and minimizing downtime.
- Data Storage and Organization: Within the data lake on Amazon S3, we designed a logical structure to store and organize the data. This involved creating directories, folders, and subfolders based on the data categories and hierarchies defined by client. This structure facilitated easy data access, management, and subsequent analysis.
2. Data Integration and Consolidation: Leveraging AWS Glue, we automated the ETL (Extract, Transform, Load) processes to extract data from diverse systems and transform it into a consistent format. The transformed data was then loaded into the data lake, ensuring data accuracy and eliminating data silos. This streamlined the data integration and consolidation process, enabling our client to have a holistic view of their data.
- Data Ingestion: To populate the data lake with data from various sources, AWS Glue Crawler was used to automatically discover and catalog the metadata of the data sources. This allowed for seamless ingestion and integration of data into the data lake, ensuring that the most up-to-date data was available for analysis.
- Data Cataloging: We utilized the AWS Glue Data Catalog to create tables that represented the data schema within the data lake. This allowed for easy data discovery, querying, and analysis.
We also leveraged QuickSight's real-time data ingestion capabilities to enable near real-time reporting and analytics, ensuring they have access to the most up-to-date insights. By efficiently ingesting data from various sources, we enabled our client to make informed decisions based on current information, giving them a competitive advantage in the market.
By implementing this modernized data infrastructure, including a centralized data lake on Amazon S3, an Amazon Redshift data warehouse, and utilizing AWS tools for data extraction, storage, organization, integration, and cataloging, our client experienced significant benefits:
- Increased Efficiency: Data processing and analytics tasks were streamlined, reducing the time and effort required for data management and analysis.
- Improved Data Accessibility: The organized data lake structure and cataloging capabilities provided easy data discovery, accelerating the data access process.
- Enhanced Decision-making: Access to accurate and up-to-date insights enabled data-driven decision-making, leading to more informed and confident strategic choices.
- Scalability and Cost Savings: The scalable nature of the AWS infrastructure allowed for seamless expansion of data storage capacity as the client's data volume grew. Additionally, the cost-effective pay-as-you-go pricing model reduced infrastructure costs.
- Competitive Advantage: By leveraging the power of advanced data analytics, our client gained a competitive edge in the market, enabling them to identify trends, uncover new business opportunities, and deliver personalized experiences to their customers.