Hexaview helped a financial advisor by creating a centralized data lake

About the Client 

The client is a US-based financial advisor engaged in helping individuals and clients achieve their financial objectives through a relationship-based discovery process and strategies that are highly customized, comprehensive, and fruitful.

Location: Albany, Georgia

Project Delivery Type: Offshore

Technology Stack:

• Azure
• ADF
• SQL
• Server
• Logic app
• Azure Function
• and a Virtual Machine

Business Goals: 

The client intends to increase its client base through enhancing marketing efforts, clean data, and personalized financial solutions. The client also wants to improve its comprehensive digital platform to provide clients with easy access to the desired financial planning tools, real-time portfolio tracking, and virtual advisory sessions.

The client also wants to improve the client satisfaction score through excellent customer service, regular feedback mechanisms, and continuous improvement of serving offerings. The client wishes to introduce new financial products and services as per the needs of its clients.

Challenges 

The client was dealing with disparate data sources from different custodians, leading to fragmented information that was difficult to consolidate for comprehensive analysis. The need for manual calculations and data entry led to inefficiencies, increased the risk of human error, and consumed significant time and resources.

As the volume of data grew, the client struggled to manage and process the increasing amounts of data efficiently, hindering its ability to scale operations effectively. Ensuring the accuracy, consistency, and completeness of data was challenging, impacting the reliability of analysis and decision-making processes.

Solutions 

Hexaview created a centralized data lake to ingest and consolidate data from various custodians on a daily basis, providing a unified repository for all of client’s data. Hexaview also provided a scalable data infrastructure that could handle increasing volumes of data efficiently, ensuring that the client could grow without data management bottlenecks.

Hexaview implemented automated data ingestion and processing workflows, eliminating the need for manual calculations, and reducing the risk of errors. Hexaview also established data quality management protocols and tools to ensure that the ingested data was accurate, consistent, and complete, enhancing the reliability of client’s analysis.

Impact

• Automation of data processing reduced the need for manual calculations and data entry by 50%, freeing up staff for more strategic tasks.
• The implementation of a data lake and scalable infrastructure improved the speed of data ingestion and processing by 70%, enabling faster decision-making.
• The integration of advanced analytical tools enhanced the client’s ability to perform sophisticated data analysis, leading to a 60% increase in the actionable insights derived from the data.

Key Success Factors 

Hexaview has been offering data science services to clients across the globe for over a decade now. Hexaview is equipped with an impressive number of data scientists who have been an integral part of many highly successful data lake projects. Hexaview always delivers the desired quality within the desired deadline.