IHS Markit, an information, analytics and solutions provider, launched Data Lake, uniting its data assets into a single catalogued platform. The cloud-based platform stores, catalogues and governs access to structured and unstructured data. The Data Lake solutions include access to more than 1,000 proprietary data assets, which will be expanded over time, as well as a technology platform allowing clients to manage their own data.

The IHS Markit Data Lake Catalogue offers search and exploration capabilities, accessed via a standardized taxonomy, across datasets from the financial services, transportation and energy sectors. For ease of usage, datasets commonly used together have been curated into data packages, including access to metadata, sample data and data dictionaries. Clients can browse the IHS Markit data assets and access the underlying data.

Bringing IHS Markit’s data from different sectors into a single platform can reduce the time spent extracting value. Clients can bring organization and efficiency to searching and accessing their own content as well as IHS Markit’s proprietary data in one place, enabling analytics at scale and driving innovation.

The unstructured data capabilities will be further enhanced with the onboarding of more than 1 million IHS Markit research reports, which will be catalogued and searchable by clients.

“Our Data Lake breaks down silos by providing quick and efficient access to a vast data universe enabling much faster analysis across a large number of datasets,” Yaacov Mutnikas, chief technology officer and chief data scientist at IHS Markit, said. “The cloud-based platform provides the highest level of data governance at scale and a robust access control framework for data protection.”

“Proportionately many users are spending far too much time on the search and setup of disparate datasets and therefore less time on testing and acting on meaningful insights,” Lance Uggla, chairman and CEO of IHS Markit, said. “The Data Lake will create efficiencies for our customers by expediting the deployment of data, accelerating organization and reducing the time to market with actionable intelligence and decisions.”

More information on the Data Lake can be found here.