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Open Source Enterprise Digital Repositories in Banking Supervision

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DURA SpaceWe manage and present for our clients and prospects a great deal of specialised content in our Open Source CMS (Drupal) and on my specialised blog on Analytic Bridge, the social network for Predictive Analytics http://www.analyticbridge.com/profiles/blog/list?user=bxpjd6txsh92. We are having great success, our material is very popular. But more interestingly we know of users out there who actually use our little website as their repository of intellectual capital in the specialized domain in which we function. We did not plan to have that kind of impact when we started up last year! Indeed I presented a blog post recently where I began to reflect on what was happening to us;-  http://www.asymptotix.eu/node/128 & more recently I brought together all of our research content in the area of Stress Testing (currently quite fashionable) in a blog post which is getting a massive number of hits globally;- http://www.asymptotix.eu/content/point-about-stress-tests.

So there is no structure to what we promulgate & maintain (as a by-product). I like to use the asymptotix site blogs to make points or refer material which is discursive or reflective whereas my Analytic Bridge blog is more short and sharp, its really a memo to myself which I share with others (and judging by the hits they find it useful that I do), the technology blog on asymptotix is similar to the analytic bridge one though, where we are simply collating references to useful technology initiatives in which we are directly involved or simply interested from the perspective of architecting solutions (partial or complete) in the challenging space which is Predictive Analytics.

Blog by blog then we are manually re-indexing our content on an ad-hoc basis. I can just envision someone marking our papers this summer and giving us a "B-"; on the basis that the content is all there but its not logically structured sufficiently. A B- is good enough for this little website building an Open Digital Repository Online is not something we set out to do and we do not have the resources to re-invent that wheel from here but we could do it for you if that is what you need. We have learned from our own mistakes in a way. I have described the pouring forth since the crises of material in regard to stress testing / risk capital / predictive techniques / supervisory guidance / regulatory changes as a veritable digital tower of Babel; it seems the local psychiatrist and gardening experts have something important to comment right now and they are making that comment. It makes the job of a compliance official or regulatory or supervisory executive a nightmare since all this new stuff obfuscates the core foundation material which remains important. It's even worse for someone engaged in making decisions about appropriate predictive techniques, since there are some madcap ideas out there right now, un-implement able or just crazy, witness all the gobbledegook written about the copula, arguably the most important technique we have if used properly;- http://www.asymptotix.eu/the-formula-that-killed-wall-street-the-gaussian-copula

What a Financial Institution needs right now is an enterprise wide digital repository of the material important in the regulation / supervision / risk capital space. Most of the assets can be harvested from this website and my analytic bridge blog. Because there is no point in inventing the most whizzy and accurate predictive analytic if you can't document why you are using it and in supervisory context there is no point in my view in implementing a predictive analytic which you have invented at all since the only way to reach consensus with your supervisor is by deployment of a predictive technique which is already 'out there' documented, proven, tested, articulated; as the journalists say "from a reputable source". As SUN state in their recent paper on this topic which I regard as very important; "data must survive multiple generations of technology and complete turnover in the staff who manage the data. Open source solutions provide greater assurances that the digital information can be preserved and accessed regardless of technology upgrades or staffing issues." The paper is here;- http://www.sun.com/storage/archive/corporate_repository_516.pdf. In this paper SUN are introducing the integration of DRUPAL and DURASPACE on their Open Archive Framework storage architecture, which is referenced here;- http://www.sun.com/storage/archive/index.jsp

This is why I am so interested in DuraSpace; http://www.duraspace.org/ they are using twitter mostly right now to keep us up to date with what they are doing https://twitter.com/duraspace I was introduced to the idea by my old friend at the University of the Highlands and Islands (UHI) the internet campus where technology like this fundamental to what they do, my friend's blog post is here; http://www.weblogs.uhi.ac.uk/sm00sm/2009/05/20/or09-first-duraspace-meeting/

The concept would be that you implement an online digital repository which indexes your predictive analytic objects to the academic and central bank papers which are the driving intellectual capital for your implementation of that object. Within that digital repository you document your deviations from the logic of the paper which is your supporting idea (or set of papers) you index why it is that technique needed tweaked in your case. Also in that digital repository you can explain why short cuts or mathematical convolutions were necessary since your technology platform was not quite up to the job. That is the job which I see where an electronic digital repository can instantaneously contribute to the process of improving the banking supervision process right now. Asymptotix would be delighted to assist anyone wishing to get such a project off the ground, after all, if you had any sense you would be farming our assets and taking our stuff from a B- to an A+!!

 

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