Advanced European Data Analytics For European Central Bank
European technology and expertise for a European institution: The European Central Bank (ECB) in Frankfurt am Main has chosen Deutsche Telekom’s subsidiary T-Systems to build and set up a new enterprise analytics platform. To implement its business strategy regarding data and data centricity and to achieve more technology integration, the ECB wants to move to a new analytics platform for its statistical function called SPACE (Statistical Production and Compilation Environment) which will be based on the existing DISC (Data Intelligence Service Center) platform. As part of a 5-year contract, T-Systems, its technology partner Cloudera and its implementation partner Ultra Tendency will build this new analytics platform. Cloudera is the underlying data platform for DISC and SPACE. T-Systems and its partners migrate the data and business logic from the current environment, operate and maintain the platform and offer training and support services to the ECB. Based on SPACE the ECB will be enabled to adopt new methods of data analytics, and decrease the time to implement new data compilations.
An important part of this project is the “Telekom Data Intelligence Hub”. This platform enables confident, encrypted and direct data exchange across national borders and was architected and implemented by Ultra Tendency. The Kubernetes based Cloudera Data Science Workbench is used at the ECB as a collaborative working environment to grant easy and secure access to data for data science workflows using a variety of user-preferred tools including Jupyter notebooks or RStudio and Spark or Impala for scale out data processing.
“We provide the ECB with a secure platform for the intelligent development of data based services. Together we are building a data-driven ecosystem for the exchange of even highly sensitive governmental data”, said Adel Al-Saleh, CEO T-Systems.
Together with the national banks of the 19 European Union (EU) Member States whose currency is the euro, the ECB conducts the monetary policy of the EU and maintains price stability in the euro area. Data is a strategic asset for the ECB in that it collects and manages large amounts of heterogeneous data and statistics to perform its supervisory tasks.
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