1. ECONOMIC Data MANAGEMENT at the IMF

2. Data Management Environment
Country Desk Data are usually stored in Excel workbooks and/or AREMOS (proprietary third party software) banks
Manipulations are done using Excel formulas and macros, or through functions written in AREMOS
Analysis is done in EViews or other Econometric packages
Charts and tables are generated using Excel tools and AREMOS
Still use Excel for analysis, but overcome its weaknesses as a time series data management tool?
Extend Excel’s functionality by incorporating simple and commonly used time series and statistical functions?

3. So, what’s the problem?
Excel Workbooks are large and contain years of historical data
Cross-linking between worksheets/workbooks is error- prone and inefficient
Time series functions do not exist in Excel
Seasonal adjustments need to be performed outside of Excel
Spreadsheets are poorly documented
Economists and Data Managers do not want to give up Excel
Still use Excel for analysis, but overcome its weaknesses as a time series data management tool?
Extend Excel’s functionality by incorporating simple and commonly used time series and statistical functions?

4. Migration to Structured Databases
Capital project aimed at adoption of data management guidelines to support the IMF’s goal of moving economic data to structured databases
IMF IT developed DMX (Database Management for Excel) system
Status
IMF’s Area Departments are migrating their Excel databases to DMX
One Department fully completed migration
The IMF’s Economic Data Management Initiative have decreed DMX as the de-facto standard for country desk data management
Organization-wide deployment in April 2011
Other departments have already set up concrete plan to migrate their data to DMX over the next two years

5. Database Management for Excel (DMX)
Tool for desk economists and research staff:
to manage effectively their data using Excel, and
to overcome the limitations of Excel as a time series database management system
Developed by IMF IT, in consultation with representatives from Area and Functional departments
DMX is a TOOL and it facilitates data storage, data manipulation, and time series management

6. DMX: The Best of Both Worlds!
USE EXCEL, but in addition...
Store data as time series in a database (MS Access now, SQLServer underway) for easy retrieval, manipulation, & sharing
Use Excel to view and retrieve data in the database
Automatically perform frequency conversions
Access functions for manipulating time series from within Excel: seasonal adjustments, smoothing, and extrapolation
Create derived series using formulas, which are automatically updated when the component series are modified (e.g. NXM = NX_R – NM_R)
Tracks changes made to the data
Facilitates documentation of data through use of metadata, such as scale, units, and sector

7. Key Features of DMX Today
User interface with its own ribbon in Excel
Common navigation across multiple data sources:
DMX
Fund Economic Data Warehouse
Economic Outlook Suite (future) Datastore (A Prognoz Developed System for the IMF)
Usability
Summary statistics for one or multiple series
Rescale and transform data, as needed
Graphical representation of your data
On-the-fly calculations and frequency conversions
Advanced features: cloning, tables, linked series

8. Benefits of Migration to Structured Databases
Improved data management at the country desk
Reduced learning costs of moving from one country desk to the another
Consistency across cross country databases
Reduced workload on data requests
Ease of Finding Data

9. DMX Technical Information
A Visual Studio for Office (VSTO 3.0) Excel 2007 COM Addin
Requirements
Excel 2007
MS .Net Framework 3.5 SP1
VSTO 3.0 SP1
Infragistics .Net Controls
Component One .Net Controls
Database
Access
SQL Server 2008 (in the works)

10. DMX outside of the IMF
Currently, DMX is used as a Data Management tool in some of the member countries of the IMF
Brunei Darussalam
Iran, Islamic Republic of
Libya
Papua New Guinea
and others

11. DMX
DEMO
Questions?