Bloomberg's enterprise information management service, Bloomberg Vault, announced today the release of its File Analytics product. This hybrid-cloud service enables firms to locate, manage and unlock the potential of discoverable information held in corporate files and documents.
Bloomberg Vault File Analytics helps enterprises manage 'dark data,' which Bloomberg defines as unstructured data that is difficult to identify, categorize, track and manage.
"Businesses today struggle to capture and organize the many different types of unstructured data in corporate file shares and enterprise repositories," said 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."
Bloomberg Vault File Analytics can be used as part of a holistic information governance strategy to search and pro-actively manage dark data, whether it resides in enterprise communications, social media conversations or files and documents. File Analytics helps organizations mitigate risk and alleviate the concerns of compliance, legal or risk management.
"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," explained Gerard Francis, global head of Bloomberg's Enterprise Solutions business. "Bloomberg Vault File Analytics helps firms derive insights from their organizational data, which can enhance business intelligence and strategic planning."
Legal and compliance professionals can also use File Analytics for policy-based record retention, regulatory investigations, eDiscovery collection, and for deletion of corporate data based on best practices policies. IT executives can leverage the technology for file reporting, intelligent data migration, and more cost-efficient storage management across their enterprise data and file shares.
Select clients, such as Polygon Global Partners, the global investment firm, tested Bloomberg Vault File Analytics over the past several months. Polygon's technology chief, Neil Roberts, commented, "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 while also allowing us to responsibly maintain the correct audit trail for compliance and recording keeping."