CASE STUDY
10X Investments
Empowering data accessibility and centralised reporting with best practices as the foundation.
Introduction
10X Investments is a tech-led investment manager on a mission to empower South Africans by helping them achieve their financial goals by employing long-term strategic asset allocation. They always keep their clients at the core of what they do, specialising in retirement savings and long-term investments. Over 15 years 10X Investments has helped their clients to enjoy a 12.2% annualised growth. 10X Investments (Pty) Ltd is an authorized Financial Services Provider.
"I would definitely recommend working with Datalab. They are really, a true business partner and they're very solution focused.
Their collaboration with the team is fantastic and solving complex problems within the constraints of your business is one of their definite strengths."
C Naylor-Renn, COO - 10X Investments
Empowering informed decision-making with data-driven insights.
In the fiercely contested domain of financial services, 10X Investments is expanding its range of products to serve a broader clientele.
Acknowledging the crucial importance of data in decision-making, 10X Investments sought to transform into a data-centric entity. In pursuit of this goal, 10X Investments had to overcome challenges related to reporting accuracy and numerical inconsistency, prompting the need to seek guidance on deploying the required technology platforms to facilitate this strategic transformation.
Challenge
The fundamental challenge confronting 10X Investments stemmed from the decentralised structure of their reporting system, rather than the absence of reporting altogether.
Business logic and rules were intricately woven into the respective reports themselves, rather than being separated into an adaptable framework or model.
As a result, the existing implementation lacked the necessary reliability, adaptability, maintainability, scalability, and support capacity required to effectively serve the needs of a rapidly expanding company.
Solution
Acknowledging the pressing need for a significant transformation, Datalab meticulously evaluated the state of 10X Investments' data maturity. This involved an in-depth analysis of their existing data infrastructure, processes, and practices. Subsequently, Datalab crafted a comprehensive implementation plan consisting of two distinct stages.
The first stage focused on immediate remediation efforts to address critical issues in the decentralised reporting and establish a solid unified foundation. This involved understanding and subsequently identifying and rectifying any urgent challenges or deficiencies within the existing data infrastructure, processes, or practices.
The second stage involved the implementation of more advanced centralised strategies aimed at achieving long-term data excellence and scalability. This two-staged approach ensured a structured and phased transformation tailored to meet the specific needs and challenges of 10X Investments.
Implementation
The first stage of implementation served a dual purpose by acting as a Proof of Value and was designed using Microsoft Power BI. This phase primarily focused on consolidating three key data sources that had already been prioritised into a single data model. By consolidating these sources, the groundwork was laid for the seamless integration of additional data sources during the second stage.
During both the first and second implementation stages, an SSAS tabular model was developed. Initially implemented as a Power BI Model, this model serves as a centralised repository containing all the business rules and logic. By creating this model, commonly known as a cube, a single source of truth was established, ensuring consistency and accuracy across reporting and analysis processes.
“This approach not only facilitates data integration but also enhances the reliability and efficiency of decision-making processes within the organisation.“
Results
One source of truth
All business reports were standardised with a shared set of definitions stored within a single place, safeguarding the integrity of the reports.
Consistent numbers
The values and logic presented in all reports remains consistent, promoting trust in the numbers.
Seamless updates, changes or additions
Any updates, changes or additions needed to be made to Business Rules are reflected across all reports simultaneously, ensuring consistency and accuracy throughout the reporting process.
Data availability
The addition of new data sources seamlessly integrates with the established framework, reducing redundant efforts.
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Next Steps
After the resounding success of the two-staged implementation, 10X Investments has transitioned into a data-centric organization, empowering them to make data-driven decisions with confidence and precision.
Dashboards have been expertly assembled and the collaboration with Datalab continues, presenting organised and visually compelling data accessible to every stakeholder across the business. This seamless accessibility allows anyone to delve into the data, extract invaluable insights, and confidently drive decisions that propel business growth.
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