Why it’s hard to get a single view of regulatory dataPublished on 7th January 2022
To make data-driven decisions you need easy access to the data, a single view of the data. However, there are several reasons why this can be very hard when working with regulatory data.
- Different systems from different business lines and departments and regions have different types of data that don’t communicate with each other.
- Different regulatory bodies produce data in a variety of formats including websites, proprietary data feeds and other publication notices in multiple languages, from many locations globally.
- Regulatory data is not categorised, but is complex and multi-faceted requiring analysis from multiple departments
- Legacy systems struggle with pulling in data and regularly have to have the data entered manually.
- A single view is only as good as its ability to serve up granular access to the data within it.
- Regulatory data is both difficult and time consuming to manipulate into a single usable format.
A SINGLE VIEW IS HARD BUT CORLYTICS MAKES IT EASY.