As investment firms review their strategic priorities having navigated the challenges of the last 18 months, one of the themes we have observed is the increasing importance of a data strategy. By this we mean a unified (top-down) vision for how to collect, process, store, manage, share and use data. It articulates how data will enable the business strategy and sets the foundation for everything the organisation does with data.<\/p>\n
A data strategy is not a new concept, but when measuring the maturity of a strategy, it is crucial it enables ongoing business development efforts, such as optimising new technology and enhancing client reporting. Such strategies must be actionable and robust to be truly effective drivers of change. Real-life data-related challenges include partial coverage of the in-house data universe, lack of access to desired datasets, multiple instances of the same data, long reporting lead times \/ lack of depth due to slow, inaccurate or missing data inputs.<\/p>\n
As a firm who has assisted clients with their data strategies over\u00a0a number of\u00a0years and one that has developed multiple investment operating models, we are well-placed to observe common challenges and have successfully deployed specific solutions.\u00a0Managing and improving\u00a0data quality has often been identified as an area of opportunity for investment organisations \u2013 from addressing cost\/process efficiency needs to better managing operational risk.<\/p>\n