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Moving into the cloud to reduce your data TCO

Douglas Munn

08 Nov 2017

Moving into the cloud to reduce your data TCO. Photography: Christian Hartmann
Photography: Christian Hartmann

Cloud services are making it easier to access high quality, reliable data and content without the worry about total cost of ownership (TCO).

Our previous blogs about data quality and platform reliability highlighted just how critical it is to get the right data at the right time.

Once you have both these things, and you’ve made a decision about the type of data you need, the next question to ask is: how can you make sure the data arrives where you need it, efficiently and cost-effectively?

Discover how you can use Elektron Data Platform to improve your business

At Thomson Reuters, we believe the answer is to look at the total cost of ownership (TCO) of developing and delivering that data. And by data, we mean real-time data, reference data, end-of-day data, tick history data, or analytics.

The benefits of storing data in the cloud

TCO for market data

TCO is the total direct and indirect costs of a product or service we provide.

So when one of our customers subscribes to our content, it goes on a journey before it reaches them.

Typically, that journey is: Thomson Reuters — data center — server —application — and finally, to the consumers of that data.

Obviously, each stage of the journey costs money to make happen.

So while the initial data or content may cost a customer X amount a month, the true cost could be two or three times as much, once it’s been sent, stored, processed, published and consumed.

Of course, everyone’s looking for good quality, trusted content, but simultaneously everyone’s also looking for value.

So being able to reduce the cost of delivery and development of data overall should be a big deciding factor when choosing a data partner.

Watch video — How can the Elektron Data Platform reduce your TCO?

Our approach to TCO

For us, TCO is about trying to reduce or remove altogether all the additional charges that surround a service for our customers.

But TCO is also about finding a supplier that can take care of everything you need.

In other words, reducing duplicate data sources and consolidating vendors, thereby lowering vendor risk and the potential for business disruption or a negative impact on business performance.

Find out how Thomson Reuters Elektron Data Platform delivers the data you need to make smarter trading and investment decisions

Moving to the cloud

However, perhaps the most effective way to reduce TCO is to move to the cloud.

The cloud brings some major advantages compared with traditional on-premises solutions.

For example, on the capex versus opex argument, the cloud provides a cost-effective way to store information and run and test applications, without investing in expensive hardware or on-premise servers.

Three smart ways to lower cost of ownership (TCO)

It’s flexible and scalable, too. You can subscribe to new services and get applications and servers up and running quickly and cost-efficiently, so you can meet changing business needs, swiftly and more simply.

The cloud also enables you to do more things, faster, and use and allocate your resources better.

Data and content how you choose

Thanks to advances in technology, the cloud’s time has truly come. That’s why we’ve created cloud services that make it easy for you to access high-quality, reliable data, and build and run applications and consume content.

All this without having to buy or maintain hardware or connectivity to Thomson Reuters, ultimately reducing TCO.

Of course, the cloud isn’t the ‘be all and end all’ for every firm. So how you take delivery of data from Thomson Reuters is up to you.

Thomson Reuters Elektron Data Platform

Discover how you can use Elektron Data Platform to improve your business

For example, we offer a dedicated circuit, internet connectivity via your data center, or cloud connectivity. Each offers a different Quality of Service depending on your needs, and each aims to maximize your current connectivity capabilities and budget.

And if you’re still on your journey to cloud, we can also provide hybrid services or in-between offerings along the way. Plus, we also have a range of APIs to help you develop your own applications faster and more efficiently, reducing costs still further.

Time to calculate your TCO?

At Thomson Reuters, we’re as focused on providing all the data you need, including market data, reference data, end-of-day data, time series, evaluated pricing and analytics, and the services that help you reduce the total cost of delivering and developing data applications, as we are on maintaining the quality and trustworthiness of the data you take from us.

Together, they make a powerful business case for cutting costs, improving operational agility and, ultimately, sharpening your competitive edge.

Elektron Data Platform

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