Leadership Award for High Impact

Mike McNab is a Senior Vice President, Global Marketing Services, at Franklin Templeton Investments. Mike recently spoke about his experiences with data virtualization at our Composite Data Virtualization Day event in New York.

Common Challenges

In his talk, he spoke about overcoming the pre-data-virtualization business challenges we have become accustomed to hearing our customers describe: data was not consistent; data was not reliable; data was not accurate; and data was not published in a timely or uniform manner.

Typical of many financial services firms, there was not a single place to go to find a catalog of every product. There was growing pressure to improve time-to-solution when responding to market and regulatory changes. And costs of new application development were growing faster than allocated budgets due to all the many new applications in queue.

The ways of the past, building redundant data layers, just was not good enough to meet all the demands and deal with the uncertainties.

Data Virtualization: A Tool for Reducing Uncertainty

There are a lot of uncertainties in business. As managers, we certainly recognize that one of our key roles is to minimize these to the extent we can. Hardest of these uncertainties are the ones that are mostly out of our control: customer preferences, market conditions, regulatory mandates, competitor actions, and so on.

But how about the uncertainties we ourselves introduce into our businesses, such as these that Mike talked about?  These also negatively impact our businesses and impede progress toward our goals.

We had heard of the great work Mike and his colleagues had done, succeeding in the vision of delivering product data as-a-service in order to: enable the intelligent consumption of product data across markets, audiences & channels, while supporting all investment platforms & product lines. And we had heard of the importance and impact this work was having on the business.

Therefore, we concluded that this success was worthy of Mike’s nomination for one of our annual Data Virtualization Awards.

Data Virtualization Leadership Awards

In previous blog entries, I described the Composite Data Virtualization Leadership Awards, which are announced annually in a ceremony at the annual Composite Data Virtualization Day event.

This year there were four awards:

  • High Impact Award: Recognizing the depth and breadth of the data virtualization impact on the business and to IT
  • Rethinking Data Management Award: Recognizing speed and flexibility in the  applying data virtualization for improved business agility
  • Innovative Solutions Award: Recognizing innovation in executing demanding data integration projects in complex environments
  • Data Virtualization Champion Award: Recognizing promotion of data virtualization’s value across their organization and in the broader business and IT community.

Expertise of Many, Strength of One

The Franklin Templeton website, in describing their story, includes this: “…multiple-manager structure allows us to offer exceptional, specialized expertise across key asset classes and investment styles, supported by a single global platform. Combined they offer investors the opportunity for true diversification, and as we say, ‘the expertise of many with the strength of one’.”

I really like this tag-line. I’m sure it describes a power that all exceptional advisors seek: to bring out the best, from many sources, such that the method and result is uniform (easier to deal with; lower cost; repeatable; more durable).

High Impact at Franklin Templeton

I am happy to report that Mike was awarded the 2012 High Impact Award, announced in New York City on Oct 9!

Mike’s team has taken the challenge of many operating environments, disparate data models, and a state of continuous sourcing change, paired with unique sourcing behaviors on the consuming side, and created a platform that supports the assembly and synthesis of “market-ready” data sets from procedures applied throughout a fluid supply chain. The data virtualization project work was on budget, on schedule, and delivered scope that exceeded the plan.

This is high impact at its best. Simplifying the architecture, increasing business flexibility, and making it easier for new business adopters to come on board because: requirements have already been done; data dictionaries are already in place; new users don’t have to ask for as much money for their new projects, so they look like heroes.

Thank you Mike, for your leadership in Data Virtualization. Congratulations to you and your colleagues for winning this year’s High Impact Award!

To view the video about Mike’s data virtualization implementation, go to http://www.youtube.com/watch?v=mXh–UU5W3M .

 

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