Cloudera Empowers Bombay Stock Exchange with Real-Time Insights

According to a recent press release, “Cloudera, Inc., the modern platform for machine learning and analytics optimized for the cloud, today announced that Bombay Stock Exchange (BSE), one of Asia’s oldest stock exchanges, has implemented its big data lake on Cloudera Enterprise. Centralizing enterprise-wide structured and unstructured data, Cloudera Enterprise empowers BSE with real-time analytics, while improving data governance and maintaining compliance with the latest industry Service-Level Agreements (SLAs).”

The release continues, “Faced with data growing on an average rate of 400GB a day, BSE needed a robust and scalable data repository that consolidates data from multiple sources to shorten the time taken for analysis and reporting. By transitioning to Cloudera’s scalable and secure platform, BSE is now able to make data-driven decisions in real-time and takes at least 70 percent less time than previously to generate complex reports. For example, it now takes only 20 minutes instead of the usual six hours to generate a Sync Trade Report. Moreover, since Cloudera Enterprise eliminates the need for expensive storage, BSE managed to reduce its operational cost by 20 times, which amounts to Rs 6 crore annually.”

It adds, “With data breaches costing companies in India an average of Rs12 crore (US$1.7 million) last year, BSE decided to strengthen their security posture by using Cloudera’s authentication, authorization, encryption, and auditing solutions. The move resulted in enhanced perimeter and data security, improved identity and access management, and better visibility on where and how data is used.”

Read more at PR Newswire.

Image used under license from Shutterstock.com

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