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Putnam cuts cost 19% and boosts performance 10X in 60 Days with BizAnalytica

About Client

Putnam Investments manages a portfolio of over $175 billion in assets and practices an active, research-intensive approach to investing. The firm, based in Boston, operates across North America, Europe, and Asia. With an increasing number of customers and a growing database, Putnam’s goal was to transform into a data-centric, cloud-based organization.

In this case study, learn how

  • Putnam sought to enable sustainable business growth and profitability by capturing efficiencies through improved data access.

  • Putnam needed to respond to the demands of its business and end users for the benefits available in the cloud.

  • Putnam engaged with our team to develop to train and expedite the migration from Cloudera to Snowflake.

Challenges

  • Missing the expertise needed to make the transition to Snowflake.

  • After ten months into the migration process, Putnam’s in-house team was still missing a consolidated data strategy.

Why BizAnalytica (a Mastek company)

  • Proven expertise in migrating from Cloudera to Snowflake.

  • Ability to create a business case to validate costs savings.

  • Experience with building a data warehouse with Snowflake on AWS.

The Solution

Our team took a fresh approach to develop Putnam’s overall data strategy and helped the firm decide to implement Snowflake on AWS to replace their on-premises data lake built on Cloudera’s Distribution of Hadoop platform. As part of the consulting engagement, the team worked hand-in-hand with Putnam’s data architecture team to redesign and built a data warehouse with Snowflake on AWS. The firm was able to leverage our organization’s pre-built frameworks to accelerate the migration significantly.

The Results

Putnam’s migration was completed in just 60 days. With many Python based, self-service utilities set up; the data architecture team was able to support an acceleration in customer analytics processes and go-to-market plans.

  • Improve query response by 10x.

  • Accelerate internal adoption and usage of Snowflake by 12x.