The problem with a daily extract is that the data quickly becomes stale when an advisor makes changes to transactions, assets, or other data points. Many advisors access their data through a daily flat-file or API integration which is typically extracted once a day, often in the morning before trading hours.
While these workflows have their respective use cases, these data delivery options run into performance problems, result in stale data, and require constant monitoring and troubleshooting to ensure the data is as healthy as possible. Historically, Orion has recommended the best path for data sharing through mediums such as data query generation, flat-file delivery, or an API integration. Instead of having to create batch file exports or call APIs, firms can immediately share Orion data in real-time to power integrations and decision making.” Cloud-based data sharing revolutionizes the ability for advisory firms to access their data in seconds. “Newer cloud technologies have the power to dramatically reshape our industry and offer a simple, elegant solution to the ongoing issue of stale and inefficient data delivery. “Data is the lifeblood powering the financial advice industry’s rapid expansion and advancement, which makes the issue of data accessibility and transparency a critical challenge facing advisors,” said Orion founder and chief executive officer, Eric Clarke. By leveraging cloud-based data warehousing technologies (Amazon Redshift), Orion is taking a leading role in bringing this service to market and uniting the industry in a future-forward effort to move away from antiquated data infrastructure and processes. OMAHA, Neb.-( BUSINESS WIRE)- Orion Advisor Solutions will champion an industry-wide effort to advocate for the adoption of real-time data sharing technology to improve data accessibility and transparency for independent advisors.
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