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Create a Data Strategy

Create a Data Strategy

You can set up data strategies in Reference Data Center (RDC) in the Create New Data Strategy wizard. Here you can define the data strategy, specify the security criteria, select the field groups, define data sources to use, apply enrichments and select validation rules.

Depending on the type of data strategy, the Create New Data Strategy wizard may include different steps and fields. For more information on configuration specific to the type of data strategy, see the corresponding pages.

Define a Data Strategy

In the Define step, you can define basic information of a data strategy.

To define a data strategy:

  1. In Reference Data Center, in the left navigation, select Setup > Data Strategies.
    You see the Data Strategy workspace with the list of available data strategies.

  2. On toolbar, click Create New and select the type of data strategy you want to create from the list.
    You see the Create New Data Strategy wizard with the Define step as the default.
    NOTE: Depending on the type of data strategy you are creating, the wizard displays only relevant pages. 

  3. In the ID field, the system assigns a value systematically, but you can override this value and enter your own unique identifier.

  4. In the Name field, enter a name for the data strategy.

  5. In the Description field, optionally enter a description of the data strategy.

  6. The Data Type field defaults to the type of data strategy selected from the list.

  7. Select a Data Strategy Group from the list.

  8. The Gold Copy field defaults to the composite source selected during setup.

  9. To enable the data strategy for use, select the Enabled checkbox. This option is selected by default.

  10. Click Option to view the Advanced Options dialog. Select all that apply and then click Save.

  11. To use the defined data strategy as a default strategy, select the Make this my default data strategy checkbox.
    When a category has a default data strategy set up, then any securities that don't meet any other data strategy criteria are picked up and processed by the default data strategy. 

  12. In the Vendor Data Expiration list, optionally select a date rule to block stale vendor data from composite use.

  13. Click Next.
    You see the Criteria step.

Specify the Security Criteria

In the Securities Criteria step, you can define the security and holdings criteria.

To specify the security criteria:

  1. Click Define for Security Selection Criteria and use the Logic Builder to define the security filter that defines the subset of securities processed by the data strategy.

  2. To apply holdings criteria to the data strategy, click the Apply holdings criteria to this data strategy checkbox and then select an option from the Entities, Source, and Date Rule lists.

  3. To define Additional Criteria, click Define and optionally use the Logic Builder to define the securities with holdings processed by the data strategy.

  4. Click Next.
    You see the Field Groups step.

Select the Field Groups

In the Field Groups step, you can select a field group that contains your intended composite field. RDC uses field groups which is the reason why a group is chosen even when there is only one composite field. For more information about managing field groups, see Manage Field Groups.

To select field groups for the data strategy:

  1. In the Field Group list, select desired field groups.
    You see the field group details displayed in the Field Group Details space.

  2. Click Next.
    You see the Fields page.

Select the Fields

In the Fields step, you can define field attributes for the fields chosen in the Field Groups step.

To select field for the data strategy:

  1. For each field, select the checkbox that corresponds to the attributes you want to give the field. 

  2. Click Next.
    You see the Sources step.

Define the Sources

In the Sources step, you can select a predefined source hierarchy rule.

To define sources for the data strategy:

  1. For each field that displays, in the Source Rule list, select a predefined source rule.

  2. Click Next.
    You see the Vendor Date Expiration step.

Define the Vendor Data Expiration Date 

In the Vendor Data Expiration step, you can define the date rule for all vendor data sources. The Date Rule field displays a list of the unique vendor sources of all the source rules used in the sources tab. By default, it would be the vendor expiration rule selected or null if it’s not selected. You can override default rule for a particular source and save this as a DS override.

To define the vendor data expiration date for the data strategy:

  1. For each Vendor Source listed, in the Date Rule list, select a date rule.
    Options include the vendor expiration rule selected on the Define page and Null.

  2. Select if the enrichment to be applied is an Overlay or Default.

  3. Click Next.
    You see the Enrichments step.

Apply Enrichments

In the Enrichments step, you can select preconfigured enrichments to be applied to the data strategy that you are creating.

To apply enrichments to the data strategy:

  1. For each field that displays, in the Enrichment list, select desired enrichments.

  2. Click Next.
    You see the Validations step.

Apply Validations

In the Validations step, you can select which type of validation rules to apply to your data strategy.

To apply validation rules to the data strategy:

  1. For Validation Processing, select one of the following options:
    –  Process using global validation rules only.
    –  Define specific validation rule

  2. If you selected to Define specific validation rule, then in the Validation Rule list, select the desired price validation rule.

  3. Click Next.
    You see the Overrides step.

Apply Overrides

In the Override step, you can apply field level overrides.

To apply validation rules to the data strategy:

  1. In the Override list, select either Override Value or Default Value for each field

  2. Click Save & Close.

  3. In the Success dialog, click OK.
    The data strategy has been added to the list of available data strategies in the workspace.