Accurate information is the data management industry’s Holy Grail. It’s fundamental to what we do and what our clients do, and its importance is undeniable. But there is more to data than accuracy.
Accuracy by itself is useless if your people can’t get hold of the data they need when they need it. What might have been accurate this morning may not be at the end of the day. So accessibility is critical. There’s also no point in being accurate and accessible if your people can’t then act on that data.
In today’s world, most firms have multiple business units, product lines, and investment strategies – all of which require different data sets used in different ways. Compliance and risk management will need different data sets than the trading desk. Operations want data on actual holdings, while analysts use it for modeling, stress-testing and ‘what if’ scenarios. Clearly there’s no single solution for these distinct requirements.