Critical. Authoritative. Strategic.


CBR is proudly produced & published
by Technews
Issue Date: February 2007

Survey shows fear of data migration

7 February 2007

 A new survey sponsored by British business intelligence software and services firm Kognitio shows that the overwhelming majority of UK financial services firms deem data migration projects to be too risk and costly.
Nearly 75% of the 100 senior decision makers interviewed at financial services, manufacturing, retail and transport firms said they were fearful of data migration projects going awry.
Around 55% of survey respondents admitted a tendency in the past to shy away from large data migration projects despite gathering large volumes of data. This applied particularly to large companies, 64% of which said they had been discouraged from undertaking data migration projects that were seen as not worthwhile.
But the survey found that it was financial services firms that were most reticent when responding to the need for data migration.
Roger Llewellyn, CEO of Marlow, UK-based Kognitio, said the hesitancy among financial services firms to embark on costly and risky data migration projects was due to the critical importance these companies place on effectively managing their data assets.
"Financial organisations are a law onto themselves when it comes to data migration projects; compared to most other industries they have different needs and face different challenges," Llewellyn said
He added that most financial organisations live and die by their data: "Since there are no physical products they manufacture or distribute, data is their business and they cannot take any risks with it."
Of course every vendor-sponsored survey has a commercial point to make, this one is no different.
Data migration is a core part of Kognitio's service offerings. The company boasts one of the largest independent data migration services teams in the UK and claims it can manage data migration projects in half the time and cost as in-house initiatives that are still prevalent among financial services firms. Financial services firms like Prudential and Norwich Union use Kognitio's services.
Additionally, Kognitio also develops a highly-scalable analytic database called WX2 which it acquired from WhiteCross Systems a couple of years ago.
Source: Computergram

Others who read this also read these articles

  • Tips for content managers

    Seven tips for succeeding at the complex job of content management.

    [ August 2007 ]

  • Data master class

    Master data management (MDM) is an enterprise-wide approach that encompasses all corporate data, both operational and analytic, helping both IT and business to rationalise overlapping and conflicting data in disparate systems, driving data consistency and quality across functional business

    [ March 2007 ]

  • Corporate communication – why we cannot just ‘send and receive’ anymore

    Effective management of a business tool and compliant systems are essential aspects of the modern competitive business

    [ February 2007 ]

  • Mastering data management

    MDM is a process that requires a data model, supported by integration services and synchronisation functionality, not to mention a set of data quality tools

    [ October 2006 ]

  • Dishing the dirt

    What is needed is a more strategic investment in information quality that is backed by a lasting enterprise-wide commitment.

    [ October 2006 ]

  • MDM with an edge

    Enterprise dimension management (EDM) seeks to satisfy data consistency requirements by defeating costly multiple charts of accounts, supporting business performance management (BPM) initiatives and other associated problems

    [ October 2006 ]

  • Building an IT continuity framework

    Business continuity is the overall provision of measures aimed at ensuring that the rest of the business outside of IT can continue to function despite disruptions and disasters

    [ September 2006 ]

Others who read this also read these regulars

Search Site

Search Directory

  • Search for:


Previous Issues