Having just told you about HP's data warehousing capabilities, Gary Barr, head of enterprise data management (EDM), Reuters comes along and knocks all those assumptions on its head by claiming that "data warehousing" delivers relatively little value in the EDM space.
A late entrant to the EDM space, which has been dominated by vendors such as GoldenSource, SunGard and Cicada, Reuters used the opening of Sibos in Boston today to try and steal some of the thunder from the founding members of the EDM Council. According to Barr, the EDM Council in its earlier incarnation was not "totally representative" of the industry, and that now a major market data provider such as Reuters had joined, he anticipates that it will give the EDM market, which has suffered from a lack of real-world implementations, a much-needed boost.
Reuters differentiates itself from existing vendors in the EDM space, which Barr says are very much focused on pricier implementations ($5 million plus) geared towards top tier firms.
Reuters on the other hand, says Barr, are focusing on extending EDM to mid and lower tier firms at what it terms a more attractive pricing proposition including the provision of professional services, which it has partnered with Detica to provide, as well as offering a subscription pricing model that is attractive to tier 3 and 4 firms. "Hosting and outsourcing is going to be a big business over the next few years," says Barr, differentiating Reuters' offering in this space from managed reference data services which have enjoyed mixed success.
So what can Reuters bring to the EDM space that other vendors haven't? Well Barr highlights Reuters unique position as a market data provider, that also has a reference data platform and integration capabilities. According to Barr, integration, not data quality and governance is the key ingredient for making EDM implementations work.
Reuters also has 1200 existing customers via its RMDS footprint, which it hopes to migrate to its Enterprise Platform. One customer is already live on the new Reuters Enterprise Platform, which incorporates its real-time market data platform RMDS, its reference data system and what it calls its "Enterprise Integration Engine (REIE)", which Barr describes as the "intelligent glue" that allows firms to orchestrate the distribution of data to applications and their customers.
Reuters' Integration Engine contains both complex event processing and "bi-directional" business intelligence, and is based on technology it has licensed from a company called M35. Reuters also has native connectivity to three of the largest middleware providers - IBM, Tibco and BEA.
Irrespective of the application the client is using - Bloomberg, Reuters, Thomson - Barr says Reuters Enterprise Platform supports the distribution of data from point A to point B without the costs and inefficiencies of point-to-point integration.
Reuters enterprise platform embodies its vision that real-time market data and reference data will converge. "The platform provides the prospect of integrating the two (market and reference data)on the same platform," says Barr. So just as the market has demanded real-time streaming market data, Reuters believes reference and corporate actions data will move in the same direction.
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