Moody’s Analytics Invests in Data Management to Transform Risk Profile Offering
With Rackspace Technology, this global financial intelligence services company was able to categorise and analyse a massive volume of data from over 400 million firms within hours.
Moody’s Analytics needed to modernise its data streaming and aggregation infrastructure to support high volume data inputs from a range of sources and to offer improved and competitive offerings to clients.Soluciones Elastic Engineering, Data, Analytics & Business Insights Plataformas Amazon Web Services (AWS), AWS Data
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better and faster decisions. Its deep risk expertise, expansive information resources and innovative application of technology help clients confidently navigate an evolving marketplace.
“Our mission was to take our massive firm database and score everything with a probability of default. We’re talking about 400 million firms with full histories over the past 20 years and a monthly probability to score. The amount of data we were looking at producing was significant. Rackspace Technology helped us organise the data and rationalise the data so it can be consumed and understood, and easily purchased by our clients.”
The obstacles they faced
In 2019, Moody’s Analytics acquired one of the largest providers of private financial statement data in the world. Today the company owns a wealth of data from 400 million firms with over 20 years of credit history. Its mission is to use the data to provide a probability of default score or rating for each firm. This enables its clients to incorporate the ratings in their own workflows and risk evaluation systems. This empowers them to make better investment decisions.
Moody’s Analytics already had a traditional data platform in play that was performing daily batch processes to score and produce the data on a regular basis. However, the company soon realised that to gain a competitive advantage and deliver improved offerings to its clients, it needed to do more with its data. This was point when the company turned to Rackspace Technology®.
“We saw Rackspace Technology as the right partner for us from the start. Our team had a collective goal of producing products with us as opposed to acting as a blunt instrument where we just point and tell them exactly what to do. From its level of expertise, flexibility and professionalism through to its documentation, we knew we made the right choice.”
How we helped
Moody’s Analytics was looking for a partner who could jump right in, understand its goals and the technology it was dealing with, and be able to execute and create a solution from scratch.
The Rackspace Elastic Engineering for Data team worked collaboratively with Moody’s Analytics to understand its key data sources quickly, its challenges, and the opportunities to extract further actionable insights and metrics from the database.
To extract the insights and metrics, Rackspace Technology designed a cloud native solution with ETL processes using AWS EMR, AWS Glue and Apache Hudi. Migrating to AWS meant that Moody’s Analytics could benefit from an array of cloud native services that allowed the company to categorise each of the 400 million firms and define their probability of default daily — all within a matter of four hours. This is the scalability Moody’s Analytics required to empower its clients to choose best-in-class entities and portfolios to partner with and invest in.
“What Rackspace Technology enabled us to do is enrich the data we already have and provide additional analytics on top of it,” stated Louis Chapman, Senior Director of Product Operations at Moody’s Analytics. “That makes it extremely useful for our clients to understand.”
The migration also allowed Moody’s Analytics to soft launch an amplified version of its existing backend analytics system, called the Peer Aggregation Engine.
What we achieved together
With the help of Rackspace Technology, Moody’s Analytics was able to streamline and optimise its data streaming and aggregration processes to provide its clients with actionable insights and metrics on a regular basis.
Looking to the future, Moody’s Analytics is planning to develop new products utilising the data platform and processes established by Rackspace Technology.
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