Paxata…the thrill of running with a giant
When I started thinking about this blog, a visual of a giant came to mind. A fearless, powerful giant who, unlike others who attempt to compete with them, knows he’s strong and also knows where he needs to spend his energy. If there is something he can rely on someone else to do, he calls on them. That simple difference makes him stronger, smarter, agile and ultimately, more successful.
PwC is truly a giant in their industry, one of the largest consulting firms in the world, but their success is measured by more than the number of strategic engagements or audits they perform a year. They are committed to driving real business results for their clients across every part of their business.
From audit and compliance, to anti-money laundering to risk analysis, every PwC analyst looks for opportunities to make more sense of the vast amount of data they work with – one of the many reasons we formed our alliance, which was just announced on Wednesday, July 27. Having managed alliances at several companies over the years, I have often seen partnerships formed with no expectation other than to drive awareness in the market. That is not the case with the Paxata + PwC US relationship. This alliance is driven by the desire to accelerate how analysts work with data, bringing the power of artificial intelligence with scale and governance to the data preparation and analytic process.
As Seth Rosensweig, Principal in PwC’s Advanced Risk and Compliance Analytics Solutions practice explained “Our alliance with Paxata will give our teams the tools they need to accelerate the testing and manipulation of data so that we can focus on the big picture: helping our clients manage risks and meet compliance obligations.”
How will this happen? It starts with a set of jointly-developed data preparation solutions customized to address specific requirements PwC and their clients have around data quality, data integration and governance, capabilities essential in transaction monitoring across massive volumes of highly varied data. With Paxata, every analyst at PwC now has access to a fully-governed workspace where they can explore and understand the origin and context of any data they need to work with and rapidly transform it for any analytic use case. Moreover, the workspace promotes sharing, reuse and collaboration for analysts to share and collaborate with others on the team.
What does this mean to the PwC analyst? Quite simply, Paxata eliminates the data preparation bottlenecks in every analytic project. Now there is no waiting for someone else to get data ready, no long-lead time while they work out what scripts to run, and no stops-and-starts as they discover data quality issues or need to add more data.
What does this mean to PwC clients? By leveraging Paxata to quickly tackle the data prep process, PwC analysts redirect hours of tedious, pain-staking prep work time into hours they can spend with clients on tangible, valuable and measured business outcomes.
Why Paxata? Over the last year, the Paxata team was put through a serious level of due diligence and in the process, we learned a lot about PwC’s big data and analytics initiatives. PwC is not the typical audit firm trying to mash up legacy technologies with trendy approaches in the hopes of finding cost and resource efficiencies or giving the appearance of being “cutting-edge.”
Much like Paxata, PwC’s modern information management strategy is designed to address data scale, governance and security demanded by the largest, most complex organizations around the world. We satisfied their requirement for business productivity through analyst-centric, self-service data preparation along with the assurance of complete data governance, lineage and automation that only our platform can deliver.
I am thrilled to be running side by side with a giant who is leading their industry and look forward to demonstrating how their decision to align with Paxata will do more than transform data – we will help PwC truly shape many futures, for their analysts, their clients, and their businesses.