Hot on the heels of launching a data management platform targeted at retail customers in March, enterprise data management provider Informatica has now released two more industry-specific versions of its Intelligent Data Management Cloud (IDMC ) — one for financial services, and the other for health and life. Sciences.
The new industry-targeted data management platforms – Intelligent Data Management Cloud for Healthcare and Life Sciences and Intelligent Data Management Cloud for Financial Services – were announced Tuesday at the Informatica World conference of the society. (Separately, the company also announced new applications in its SaaS 360 product line and IDMC features to facilitate data management, data engineering and MLOps Tasks.)
Industry-focused products seek to solve the challenges of unstructured and siled data by combining machine learning capabilities with specific integrations the company calls “accelerators,” while complying with a variety of regulations and data standards.
The launch of the new data management platforms continues the trend of cloud service and solution providers offering vertical solutions with pre-built capabilities to enable businesses to adopt applications and realize their value faster .
“This trend that [Google Cloud CEO] Thomas Kurian left in 2019 with Google Cloud, publishing vertical solutions became the norm, with all major cloud solution providers looking to do the same,” said Holger Mueller, principal analyst at Constellation Research. “The value proposition for enterprises is clear: faster adoption and migration to the cloud and better value once there with pre-built vertical capabilities.”
Intelligent Data Management Cloud for Healthcare and Life Sciences
New Intelligent Data Management Cloud for Healthcare and Life Sciences is a version of Informatica’s suite of machine learning tools tailored to help healthcare and life sciences customers catalog, ingest, integrate and prepare data for analytics and AI applications designed to drive positive health outcomes and efficient operations.
Some of the accelerators included as part of the new platform are integrations with Salesforce, NPI Data, National Patient Account Services, Workday, Oracle Fusion HCM Cloud, Orange HRM, Salesforce Health Cloud, MedPro, the cloud-focused company about Veeva healthcare and HR provider. UltiPro.
Analytics for faster decision making
These specific connectivity integrations are intended to enable healthcare providers to have a 360 degree view of all their important data and perform analytics on it to make faster decisions and reduce time to market. , Informatica said.
Connecting disparate, siled data sources and collecting data with privacy is becoming an increasingly important task for healthcare companies, Mueller noted.
To that end, the new healthcare and life sciences platform also supports healthcare industry-specific extensions to ensure compliance with healthcare-related programs and regulations, including HL7. , Health Information Exchange (HIX), HIPAA (the Health Insurance Portability and Accountability Act), and the National Council for Prescription Drug Programs (NCPDP).
To help maintain data privacy while validating and standardizing data for use, the IDMC platform offers a Data Quality Accelerator for Crisis Response.
The accelerator contains a specific set of rules that cleanse, normalize and validate data, enabling customers to enable data-driven decision-making that can help improve patient health, the company said.
Intelligent Data Management Cloud for Financial Services
The Intelligent Data Management Cloud for Financial Services, like Informatica’s other industry-focused platforms, combines vertical accelerators with the company’s suite of machine learning tools to help address challenges. challenges with unstructured data and rapid data-driven decision making.
Integrations that are part of IDMC for Financial Services include support for data standards and services including ACORD, FIX, FpML, NACHA, SWIFT, LEI, DTCC and Bloomberg.
The platform also supports industry-specific extensions and data format support for UNIFI (ISO 20022), ACORD XML, FIXML and MISMO, the company said, adding that the platform was equipped with “data quality rules” that can validate and ensure compliance with data standards.
The rules are part of what the company calls the Data Quality Accelerator for Financial Services and can be used to accelerate the deployment of a data project and enable data-driven decision making.
The company said IDMC for Financial Services has built-in metadata scanners that can help extract lineage, technical, business, operational, and usage metadata from more than 50,000 systems (including data warehouses and data lakes) and applications including business intelligence, data science, CRM and ERP software.