Latin America. Bloomberg's enterprise information management service, Bloomberg Vault, has extended the capabilities of its hybrid cloud solution File Analytics to help companies manage and secure their corporate information across cloud storage services such as Salesforce Files, Box, Microsoft SharePoint, and Amazon Simple Storage Service (Amazon S3) through Amazon Web Services; as well as for own local storage systems.
Technology and legal managers navigate a sea of fragmented corporate data across the company and in online services. Different types of data, structured and unstructured, current and old, confidential and trivial, are stacked in disparate on-premises systems and in external cloud-based collaboration and sharing sites.
Bloomberg Vault File Analytics provides these administrators with the capabilities needed to control and protect sensitive, high-risk corporate information that is frequently stored on on-premises servers and in the cloud.
"Companies want to expand their use of cloud collaboration software for convenience and productivity advantages, however, companies also need to ensure they have the necessary clarity and control over their cloud information," said Harald Collet, Global Head of Bloomberg Vault. "Some mandates, such as the new regulations in MiFID II, require companies to have control of their corporate information in order to be able to archive what they need to retain, or dispose of information that is no longer needed. The fragmentation of corporate information makes this a major challenge."
Around 1,000 financial services companies and other highly regulated industries use Bloomberg Vault to organize, manage and encrypt their communications such as emails, instant messaging services, voice and social media, as well as structured stock market data.
Bloomberg Vault clients can integrate the File Analytics module to have control over what Bloomberg calls "black data," this is corporate data that is difficult to manage, categorize, search for to be used. File Analytics provides a search by policies and selective users, powers of analysis and archiving, as well as encrypted storage under the WORM format, required by some regulatory and cybersecurity policies.
In addition to integrating File Analytics with cloud-based collaboration services, the solution also offers extended search, analytics and reporting features to give users a powerful experience so they can streamline their data discovery and compliance flows. File Analytics integrates seamlessly with Bloomberg Vault's other operational features: storage, surveillance, eDiscovery, and quote reconstruction.
Research firms like Gartner predict that in the next five years the number of organizations that will use file analysis tools to generate visualizations of their unstructured data ecosystems will grow about 10-fold to reach 20%, from less than 2% today.
According to a recent report, "File analysis increases or improves operational efficiency through the identification and classification of 'important' or 'irrelevant' unstructured data," allowing companies to optimize their storage, migrate data to appropriate repositories, and justifiably eliminate unnecessary data. In turn, these actions help reduce IT costs and the organization as a whole, while improving employee efficiency."
