Data is the lifeblood of our industry. Without it, there isn’t much a trader or analyst can do. At ZE, we work with clients and data vendors each and every day. For us it’s easy to see that there’s a need for entitlements among large enterprise organizations.

The Data “Consumer”

You’re a large multinational corporation with trading desks all over the world. Your analysts and traders need data from a variety of sources, all on a timely and consistent basis. You engage a data vendor and make a deal: You’ll pay for data based on the number of users who consume it.

Three months later, a bill comes to your office from the vendor. All of a sudden, you’re paying way more than you expected. “We didn’t use this much data!” you say, but how do you prove it? How do you account for users all over the world across the company?

The Data Vendor

Your company works hard to collect data, place it in a well-maintained database and distribute it to wherever it needs to go. You’re the best at what you do, and you take pride in the quality of your data.

A large multinational firm approaches you and agrees to license your data based on how much they use. This is a great deal and you begin providing data. Three months later, you send an invoice to the customer, and they respond with, “We didn’t use this much data!”

Miscommunication can hurt customer relationships

Clearly there was miscommunication between both parties. We see this scenario all the time and it often hurts the relationship between customers and their data provider. All the consumer wants is to pay a fair price for the data they used. All the data vendor wants is to be compensated fairly for the amount of service they provided.

 

Two Problems with a Common Solution

The ZEMA Suite’s administrative layer lets you control data entitlements and ensure you’re getting exactly what you’re paying for, and ultimately, exactly what you need.

Through the ZEMA Administrative Console, your company has the ability to:

  • Control user access down to an individual report level
  • View user activity, to know which data is being accessed
  • Report on usage and activity by individual users
  • Retain a complete audit trail, fully compliant with new regulatory requirements (Dodd-Frank, EMIR)

With ZEMA the data consumer gets peace of mind that they are in compliance with their terms of agreement and are receiving maximized value for their data investments. The data vendor gets accurate reporting to ensure they are paid appropriately for the services they provide.

The ZEMA Administrative Console is one of the tools in the ZEMA Suite, a complete end-to-end data management solution.

To learn more about ZEMA, click here.