There is no doubt about it; we are witnessing a sea change of technological advances in the market and an explosion of vast amounts of data. In fact we have more data than we can handle – whether it is structured or unstructured – and it can be used in many different ways. Data needs to be processed so much faster, with agility being the order of the day. Speed and low latency for certain sectors in the market is crucial not only from a competitive perspective but also as part of delivering an engaging experience. The pressure is on for IT organizations to deliver fast, high performing cost effective systems. All must look to delivering systems that will drive business growth, organizational efficiency and impact the bottom line.
Data is a crucial currency for many industries and markets but no more so than for the financial sector with its focus on high performance computing and big data analytics to drive new financial innovations and opportunities. There are many aspect to Data whether it is data at rest or in motion and there are many factors impacting how one manipulates that data to find patterns that can provide different inferences so as to gain competitive advantage and operational efficiencies. It is in this aspect that the issue of big data and big data analysis to enable more predictive insights becomes a vital factor and a point of differentiation.
With Data comes the inevitable question regarding storage and the best type of storage to support new data growth and application and improved computational performance. Certainly the storage market has changed with the arrival of both flash and in memory storage. We have seen the introduction of SSD or flash memory into the RAM space enabling Tens of Terabyte in pure memory. In fact the storage space has evolved considerably and is opening up new efficiencies and opportunities for a wide variety of financial platforms and architectures.
Podcast Discussion points
- What are the business and operational drivers impacting your organisation and how is this influencing general IT and storage decisions?
- In your experiences and line of work what type of analytical computational workloads are you undertaking and what kind of challenges does getting the right IT Storage architecture/strategy present to you and your organisation?
- Is Cloud an option for your organisation? If so, why and if not, why not?
- Is the vendor community providing the right support? Where or how do you think they could do better?
- What do you think are the technology shifts that you are starting to see that will impact the market and your organisation in 12 to 18 months and what influence will this have on any storage strategies in place? How prepared for them are you?
Erik Vynckier, AllianceBernstein’s Chief Investment Officer, Insurance (EMEA) with the responsibility of developing and implementing asset management solutions to support the investment, capital management and product development ambitions of insurers.
Ian Shave, IBM Storage Business Unit Executive for Analytics & VersaStack and a leader in the IT industry, known for his ability to provide market insights and develop business strategies that lead to successful businesses across geographies.
Bola Rotibi, Research Director here at Creative Intellect moderated the discussion.