In June 2019, we wrote about the three pillars for establishing a Data Operations function to provide access to data in a transparent, controlled and reportable way.
XMon supports Data Operations teams and enables access to data at scale, without losing the grip on usage compliance and spend. The latest XMon release includes a dedicated DataOps module to allow for the management, granular attribution, simulation and reconciliation of data usage.
Viewing and tagging requests
Understanding which consumers are requesting data and for what purpose is a basic principle for data usage transparency. This being said, it is not an easy principle to implement. With the XMon request tagging functionality, Data Administrators can extract all data requests (both internal and external) and assign metadata attributes to these requests, manually or through automated tagging rules. This allows a granular attribution of the data request to a specific consumer (e.g. Back Office Team), a specific business process (e.g. Risk Report) or any other custom defined attribute. Tags are then used by the XMon Data Analytics engine to provide in-depth analytics and a level of detail for usage reports that is not possible to achieve with traditional methods.
Data Attribute and Security Lookup
With the XMon DataOps Attribute and Security Lookup feature, Data Administrators can lookup any security reference or data attribute (field) used within the organization. This can then be tied back to a specific consumer or business line. Operational tasks like usage reporting and pruning of expired or unnecessary securities and attributes becomes much easier, much more efficient and more transparent.
Cost simulations and compliance checks
One of the tasks of a DataOps team is to ensure that any changes to data requests do not incur unexpected cost spikes and that data requests are compliant to internal and external usage agreements. With the XMon DataOps cost simulation functionality, Data Administrators can obtain the cost of a data request by simply uploading through the XMon DataOps interface. In addition to obtaining relevant cost information, XMon will validate the request against a set of compliance and data access rules to ensure it doesn’t breach any terms.
Reconciling invoices and reporting
The XMon Invoice Reconciliation feature allows Data Administrators to validate vendor invoices by independently re-calculating and re-building data invoices. This important step provides third-party validation of invoice amounts and ensures all parties have a clear understanding of the way invoices are calculated and how data is charged.
The XMon DataOps module centralizes data operations, increasing efficiency, ensuring compliance and reducing spend. Contact us for more information about the features available or how we can help your organization take control over reference data.