Hybrid Cloud Solution from Bloomberg Vault to Manage 'Dark Data' across Enterprise

By CIOReview | Tuesday, July 15, 2014

NEW YORK, NY: Bloomberg Vault, the enterprise information management service, announces the release of its latest hybrid cloud service called the Bloomberg Vault File Analytics for enterprises. It enables firms to locate, manage and utilize the potential of hidden information in the corporate files and documents.

Bloomberg calls this hidden unstructured data that is difficult to identify, categorize, track and manage as ‘Dark Data.’ Bloomberg Vault File Analytics can be integrated with the information governance strategy to search and manage dark data, whether it resides in enterprise communications, social media conversations or files and documents. The solution helps organizations alleviate threats and concerns of compliance, legal or risk management.

“Businesses today struggle to capture and organize different types of unstructured data in corporate file shares and enterprise repositories,” says Harald Collet, global head of Bloomberg Vault. This ‘dark data’ presents firms with significant challenges and opportunities. Bloomberg Vault File Analytics helps firms address these challenges and derive more value from their data by enabling them to manage, analyze, and control large amounts of enterprise information

Neil Roberts, the technology chief at the global investment firm, Polygon Global Partners where the software was running on a trial basis for several months says, “Like most businesses in our space, we handle large volumes of unstructured data. Bloomberg Vault File Analytics is a mechanism to better extract key insight and analysis from this data.”

The prowess of File Analytics can also be utilized by the legal and compliance officers for policy-based record retention, regulatory investigations, eDiscovery collection, and for deletion of corporate data based on best practice policies. IT executives can take advantage of this technology for file reporting, intelligent data migration, and cost-efficient storage management across their enterprise data and file shares.

“Bloomberg is investing in enterprise solutions that enable our clients to capitalize on the value of their data. For firms to be able to capitalize on their data they must first understand what kind of data they have and who is using it,” explains Gerard Francis, global head of Bloomberg’s Enterprise Solutions business.