Business Intelligence Case Study: Cheyne Capital

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Cheyne Capital , a hedge fund management company, has replaced SAS with the Tableau business intelligence, to speed up the development of reports for its traders.

Over the last three years the IT team at Cheyne Capital needed to provide reporting across multiple systems to provide traders with greater business insight. However, due to the nature of its business, producing reports needs to be done quickly and efficiently.

Jan Uygur, CTO of Cheyne Capital, said the company wanted to hand over reporting to the business, rather than leaving reporting as a purely IT function. "Since the downturn we have strived to be more efficient. We were using SAS previously, but it is a big heavy tool."

This meant the company had to use the SAS environment and extract data into a SQL Server database. "We wanted to make reporting much lighter."

SAS needed a lot of developers, with three to five people involved in developing reports. The downturn led to a reduced IT team, forcing the department to rethink how to produce reports more cost-effectively.

Faster reports were necessary because the trading desk was asking IT to develop applications. As an interim step, Uygur said: "We gave traders reports. When traders need something, we have to give them a solution quickly."

Cheyne Capital has realised portfolio managers need to interact with instant data and up to date analysis, rather than being presented with static reports that can't answer questions. The hedge fund company is using Tableau Software to deliver reports in a way that it can work with the numbers, delve deeper and see the information in the way staff want - grids, graphs and in the form of an infographic illustration.

Sheel Bhatiani, deputy head of IT at Cheyne Capital, said the department had previously used wireframes to develop reports, which were then presented to users. Tableau is more interactive. It provides a graphical designer, allowing an IT person to sit on the trading desk and collaborate with a trader to build the report, making changes on the fly.

Cheyne Capital plans to adopt Tableau Software's new 6.1 version with potential use on tablet devices, making the data accessible for portfolio managers on the go.

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