The Results
Modernize and simplify applications with “off the shelf” functionality
FactSet is using Dremio to modernize its data stack without having to rip and replace it so they can provide faster and better services to their clients with minimal interruption. They built their solution on top of their existing tech stack, with existing data sources including the data lake. They could simplify development across multiple content sets. “We basically took Dremio off the shelf and layered services on top of it,” says Wilson Tsai. Director of Data Platform Engineering.
Develop new data screening services that provide huge time savings
They wanted to modernize their data screening capabilities across 30 data domains. It took only five to seven months to be up and running using Dremio for two new data screening services for regulatory and financial data. The new screening median workflow time was reduced by about 25%. Other workloads reported 68-74% time reduction compared to the old screening method. Dremio is enabling significantly faster response times for the product’s analytics/BI capabilities. This also did not require any additional hosting of web infrastructure.
Eliminate complexity by transforming data silos into a single pane of glass
Dremio helps FactSet transcend data silos, eliminate complexity and provide access to data through a single pane of glass. Users can access data from any source, e.g. DynamoDB database, Redshift, or the data lake. They can make queries about all aspects of a financial transaction and instantly retrieve the data from one central resource.
Accelerate performance through Dremio Reflections technology
Dremio Reflections technology helped reduce the time to access data from 10 minutes to under 30 seconds. The company looked at Dremio Reflections to replace an internal caching system and found that when they put Dremio technology on top of other existing technologies, it actually gave
them more performance than the SQL databases in the underlying data warehouses. Reflections provided exceptional performance across the board, unlike a specialized graph database. So FactSet’s engineers no longer need to spend time and resources on caching and the movement of data and can instead focus on data models higher in the stack than caching. This took the costs out of their solution and resulted in a better utilization of FactSet’s engineering resources.
Easily trace data sources with graph lineage
With multiple continuous data sources, it is important for FactSet and its users to be able to refer back to the original source of financial data. FactSet uses Dremio’s graph lineage technologies to easily trace back the origin of the data source, increasing the reliability of the data.
