Markit Enterprise Data Management (EDM)EDM for Energy

Enterprise Data Management (EDM) is a flexible data management platform that integrates with any database, application or file structure to pull disparate data types from multiple sources into a central hub. EDM creates consistent versions of the truth in a traceable, audited environment. It benefits firms through greater control of their data, increased transparency, seamless integration with consuming applications and support for ongoing compliance.

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Product Summary

Across the energy industry, volumes of internal and third-party data are increasing rapidly. However, data often remains siloed and the use of heterogeneous structures makes it difficult for firms to integrate their data and harness its full potential. Lack of transparency and data lineage also presents significant challenges for firms.

EDM addresses these issues by taking data from different sources and translating it into a common format. Quality control rules are applied to assess the validity of the data before related attributes are matched to create side-by-side views across sources and data masters. These can then be distributed within EDM and fed into external analytics and BI tools.

The types of data EDM can be used to manage include well, production, completion, basin and seismic data. The use cases EDM supports include:

  • Upstream

    - Reference data

    - E&P data

    - Analytics

    - Master data management (MDM)

    - Integration

  • Downstream

    - Pricing data

    - Curve management

    - Transaction management

    - Regulatory reporting

    - Market data optimization

    - Independent price verification (IPV)

Key Benefits

  • Data-agnostic

    EDM is agnostic to both data format and structure. It can integrate proprietary, IHS and third-party data to create a single version of the truth. EDM is not restricted by a fixed data model; rather, the data model is extensible and defined by business requirements. It can also leverage industry standards.

  • Robust quality controls

    EDM gives firms the ability to implement the data quality rules they need to feel confident about the data on which they base their decisions. Data lineage functionality also allows users to see where their data came from, who touched it, how it was altered and where it went.

  • Easy distribution

    Data can be distributed from EDM to specialist geoscience and engineering platforms with full round trip capture and management of results. EDM can also be easily integrated with different BI and analytical tools, such as Spotfire and Tableau.

  • Deployment options

    EDM can be implemented on premises or leveraged as a managed service. The latter option enables firms to reduce implementation times, cut costs and scale up and down quickly, as business needs change.