Research project ENSURE
JRC Capital Management Consultancy & Research GmbH as a pilot user for digital long-term archiving
Long-term, secure storage of data plays an important role for companies in most industries. On the one hand, legal requirements for retention periods must be complied with and, on the other hand, valuable business data must be backed up over the long term. In this regard, digital solutions have now established themselves. However, digital long-term archiving not only has advantages over conventional paper archives. Although digital data carriers offer more and more storage capacity, the shelf life of the devices is often limited to a few years. In addition, there is the fast change of media systems and technical standards with manufacturer-dependent formats.
The planning and implementation of a digital long-term archiving system
Planning and implementing a long-term, secure digital archiving system is time-consuming and complex. Many different factors play a role. These include the relevance of the data, access frequencies and security requirements and, last but not least, the costs for local storage and cloud services. For reasons of cost, the proportion of long-term data to be backed up is low. In addition, it is often not clear which data are really suitable for long-term preservation. For example, financial institutions have to process very large and rapidly occurring amounts of data in their daily business on the capital markets and secure them in a meaningful way. The research project ENSURE (Enabling Knowledge Sustainability, Usability and Recovery for Economic Value) is dedicated to this application. The aim is to develop a software solution that supports companies in selecting data and planning archiving processes.
The use of JRC Capital Management Consultancy & Research GmbH
On the one hand, the new software should support the description of the content of the data using semantic concepts and, on the other hand, it should independently generate suggestions with the help of an integrated cost model as to how data can be saved and stored taking into account their respective characteristics. As a project participant, JRC Capital Management Consultancy & Research GmbH contributes its experience in processing large amounts of data as well as in the development and application of complex software solutions for the analysis of capital markets. We carry out practical tests and use our in-house database with price and capital market data. The ENSURE software makes it possible to bundle large amounts of data from different sources and to feed them into applications. The software is integrated into the in-house system landscape of JRC Capital Management Consultancy & Research GmbH. In this way we make a further contribution to the continuous quality improvement in the generation of trading signals.
Further information about the projects of the JRC Capital Management Consultancy & Research GmbH is available here .
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