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Expanding data compliance within Excel use

by Lyndsay Wise, President, WiseAnalyticsTuesday, October 27, 2009

Datawatch Corporation, a provider of business intelligence solutions, has announced their new release, Monarch version 10.5.  The uniqueness in this announcement is that it allows users to manage their data and meet compliance requirements through the use of Excel.  In general, most organizations have proliferated Excel use.  When looking at business intelligence, many people use Excel to manage information and to analyze data. The issue arises when people use Excel as the key entry point of information access, meaning that individuals control, edit, and make changes to data used to plan and identify business performance and/or opportunities.  Because of the lack of validation within Excel, the ability to develop analyses based on incorrect assumptions and data manipulation are quite large. Consequently, organizations require the ability to use Excel and to interact with data, while still being able to validate the data being used to ensure proper data governance and overall compliance.

With Monarch V10.5, organizations can pull original reports within the Excel environment.  This allows users to drill through to the original information without having to access a database or have an understanding of where the data resides.  The overall ability to access and validate original data provides an asset to business users by allowing them to understand the context of information and how it interrelates with overall business information. When looking at compliance specifically, the ability to meet regulations and to maintain data integrity can have legal implications.  Therefore, organizations require ways they can correlate Excel based analyses with original operational data to confirm that information has not been changed or compromised. 

The use of Excel always generates some controversy when discussing BI.  But no matter what, organizations will continue to use Excel as an easy way to gain visibility into their overall performance. Despite the factors exist that discredit the use of Excel to manage financial or business performance, the reality is that solution providers can either find ways to enhance the functionality within BI and the ability to maintain data integrity through its use. Monarch V10.5 will give organizations this advantage by allowing end users to validate their Excel based data while enabling data governance initiatives and overall compliance.

About the Author

Lyndsay Wise is an industry analyst for business intelligence. For over seven years, she has assisted clients in business systems analysis, software selection and implementation of enterprise applications. Lyndsay is the channel expert for BI for the Mid-Market at B-eye-Network and conducts research of leading technologies, products and vendors in business intelligence, marketing performance management, master data management, and unstructured data. She can be reached at lwise@wiseanalytics.com. And please visit Lyndsay's blog at myblog.wiseanalytics.com.

(Copyright 2009 - Dashboard Insight - All rights reserved.)

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