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Are you aware of other financial services enterprises which have adopted this approach and if so would it be considered a best practice?
Question: We have embarked on a project to implement a Financial reporting consolidation tool for a large corporate enterprise, feeding directly from our data warehouse as opposed to our general ledger. Are you aware of other financial services enterprises which have adopted this approach and if so would it be considered a best practice?
Chuck Kelley's Answer: I think most financial organizations are doing just as you describe. And yes, I believe it is best practice. The only exception to this would be if the consolidation is required at a near real-time environment. Then I would consider an operational data store to deal with that specific portion of the organization.
Chuck Kelley is an internationally known expert in database and data warehousing technology. He has 30 years of experience in designing and implementing operational/production systems and data warehouses. Kelley has worked in some facet of the design and implementation phase of more than 50 data warehouses and data marts. He also teaches seminars, co-authored four books on data warehousing and has been published in many trade magazines on database technology, data warehousing and enterprise data strategies. He can be contacted at chuckkelley@usa.net.
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