Data Mesh for Enhanced Banking Trust and Agility
A major bank aimed to restore trust in it's - data following a regulatory issue and subsequent fines. The bank sought to improve its data strategy and governance by creating well-defined data products, reducing overhead, and unlocking value more efficiently.
The Challenge
- Delayed innovation cycles: Difficulty in accessing and understanding data for ad-hoc analysis and prototyping.
- Data trust issues: Each team was responsible for their own data quality across pipelines, leading to inconsistencies.
- Lack of self-service: High dependency on other teams to access and use data.
The Solution
We designed a flexible Data Mesh framework, enabling quick iteration and experimentation. A ‘data highway’ was established to accelerate prototyping and experimentation, addressing the needs of five distinct user groups. While initially sacrificing speed, the model was built for future resiliency, broader user coverage, and flexibility.
Business Impact
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30
Products Unified
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80%
Data Discovery Time Reduced
Mu Sigma is a pure-play decision sciences company that believes the big D is Decisions, not data. Our integrated ecosystem of products, services and cross-industry best practices, Mu Sigma enables better decision-making for more than 140 Fortune 500 clients. Mu Sigma's unique interdisciplinary approach and application of AI, ML, computer vision and more drive innovation in solving high-impact business problems across sales, marketing, finance, operations, and supply chain. With over 3,800 decision scientists and experience across 12 industry verticals, Mu Sigma has been consistently validated as the preferred Decision Sciences and Analytics partner.
The firm's is derived from the statistical terms "Mu" and "Sigma," which symbolize a
probability distribution's mean and standard deviation, respectively.
