How to Easily Handle Large Datasets for Data Distribution
A Tool to Help You Slice and Dice Your Data
Data producers, exchanges, and financial institutions have to deal with massive amounts of data collected daily. Market data is often quite large causing issues for users. Many datasets take up more memory space than the average person’s computer can handle.
Your users often need specific information from a dataset, such as a group of portfolio symbols, as opposed to the dataset in its entirety. To allow users to configure and customize these datasets and render them usable, TickSmith has added the Personalized Data Cut tool to its GOLD Platform.
Features and Functions
"The Personalized Data Cut tool empowers and provides options for the user to get the data they need, saving on cost, time, and complexity."
Open New Possibilities
For data producers, this tool opens new possibilities that weren’t previously attainable. When downloading large datasets becomes a headache for your users, the tool enables them to increase their productivity. It also allows for new ways to monetize the data, based on the different customization options.
For example, your users can filter down the data from thousands and thousands of symbols to any number of symbols, such as 25 symbols. Now the users can download and easily onboard the files because it’s no longer a billion rows of data. Any number of filters can be made available for each dataset, for example by asset class or industry, which creates a new view of the datasets.
Your users can also create customized portfolio views from the sorted data. The tool can also be used to generate customized reports or datasets for compliance and analytics use cases.
By analyzing your users’ behavior with the Personalized Data Cut tool, you will be able to determine your users’ preferences and decide from there if you want to repackage your users’ “Data Cuts” and sell it as a new data product.
The Personalized Data Cut tool is an exciting feature for data producers who want to offer their users a tailored experience. The tool empowers and provides options for the user to get the data they need, saving on cost, time, and complexity. The Personalized Data Cut Tool is aimed at simplifying the ingestion of large datasets by pre-processing the data based on various needs and is already up and running at large financial exchanges around the world.
If you would like to see the tool in action, please contact us for a demo.