Our new whitepaper, The Transformation of Internal Audit, examines the ways in which the Internal Audit profession must respond to changes in the business landscape in order to remain relevant and add maximum value to business.

Custom software is another term for bespoke software, which can be described as a solution that is specifically designed for a single user or organisation. A bespoke solution can be helpful if a specific type of software is required and there are no suitable off-the-shelf options available.

By leveraging Fraxses’ API capabilities of pedigree and Spark-compliant SQL Query extraction, and creating a custom microservice using the Fraxses Smartwrapper, Fraxses Data Objects were extracted as SQL scripts. This solution eradicated the need for coding, and by using Fraxses as a no-code front end, business users generated their own SQL statements. Fraxses offers the versatility to push the envelope, and new ways to leverage its capabilities was conceived in response to this specific use case.

An online sports betting and gaming provider asked Intenda to conduct a
point solution to establish whether Fraxses had the capability to meet its expanding data needs.
As a key requirement, the
system needed to facilitate automatic data collection and aggregation in real-time or near-real-time.
The point solution clearly demonstrated Fraxses’ capability to solve the gaming provider’s immediate data challenges.

It is important to note that the metadata-driven data fabric advanced by Gartner, and which many other data and analytics leaders agree represents the future of data management, is an architectural concept rather than a standalone solution or tool.
However, we at Intenda believe that the way in which the data fabric leverages metadata and the advantages it delivers, as described in Top Trends in Data and Analytics, 2022, are closely aligned to how Fraxses uses metadata and the capabilities the platform offers.

When we look at data and how the requirements for integration have escalated, it all comes down to the data environment. What is the process? Where does it end up? The real question is, how is it being managed and what method or solution works best for each user or organisation?

A new way of integrating data is to ‘bring it home’ by simply extracting and transforming it.

It’s not a new idea to draw on data when making strategic decisions – businesses have been doing so in one way or another for a long time. But in recent years new technologies, coupled with an increase in the amount of data at our disposal, have brought about the emergence of the data-driven organisation: businesses in which every decision and process is anchored in data.

Analytics has been a key focus area of Internal Audit for many years, but this has not brought about a fundamental change in the way the overall process is conducted.

While many organisations include core analytics, data skills and toolsets, the outcomes of analytics testing are not optimally integrated into their Internal Audit processes. Internal Audit teams that leverage traditional analytics are reliant on IT support, and have to copy or move data from one location to another before they are able to use it.

A retail bank approached Intenda to conduct a Fraxses point solution. The bank’s data management systems did not provide a comprehensive customer view. As a result, client managers were unable to generate reports promptly. The point solution’s objective was to deliver a 360° customer view, thus enabling client managers to provide up-to-the-minute reports on demand.

An energy provider contracted a professional services consultancy to investigate the factors driving the customer churn it was experiencing.

Recognizing the Fraxses data platform as the ideal solution to identify statistical correlation for churn across recorded data events, the consultancy elected to undertake the investigation in partnership with Intenda.

According to Gartner Top Trends in Data and Analytics for 2021, “Data integration and data preparation are among the top three technologies that organizations would like to automate by the end of 2022.

A data fabric’s architecture addresses the challenges that constrain the monolithic approach, and simplifies data integration and management.

The importance of master data cannot be denied. There are a variety of articles, books, and events that emphasize its importance. Yet for many organizations’, it is a struggle to organize their master data in such a way that it can be used by many data consumers.

Those who have been able to organize it well, use master data primarily within a limited and controlled set of applications.