Any time data must be put through a manual process, there is a risk of human error. The more often a business uses manual processes, the greater the likelihood that mistakes will occur; no organization is immune to the reality that manual process and human error go hand in hand. As recently as October of 2013, NASDAQ, the second largest US exchange operator, experienced an hour-long shutdown of their data feed. The cause was reported to be a human error in performing an operational function, resulting in incorrect delivery of data to the system (Bloomberg).
An error such as this could have alarming repercussions, particularly for a company that is managing billions of dollars in assets. The more a company is able to automate their procedures, the more the risk of these kinds of errors is reduced. For companies that are regularly transforming and manipulating data manually to make it palatable to databases, statistics packages, and visualization tools, it is all too easy it is for data sets to regularly contain missing, extreme, duplicate, or erroneous values that can undermine the results of analyses.
Discovering and correcting data quality issues is costly. Internal solutions can also be difficult to specify and evaluate, are error-prone, and tedious to interpret. Furthermore, these issues take time away from work that adds value to a company- manipulating, interpreting, and analyzing the data in an efficient way to make timely, strategic decisions.
The Automated Solution
ZEMA takes care of data management so that you can direct more resources toward work that truly matters- using the data to gain insight. Aside from automating the capture, scheduling, and centralization of data from any market or internal source, ZEMA offers robust analytical functions with a wide range of options to transform and manipulate data. Transformations and manipulations include forward curve construction, extrapolation, interpolation, filtering, date shifting, and aggregation.
You can rest assured knowing that your analysis is based on sound data, as ZEMA performs multiple data validation procedures to assure quality. Automating these procedures eliminates the risk of costly human errors- so you can stay focused on the bigger picture.