Data Strategy Service
Data is now recognised as one of the most important assets of any financial services organisation. A defined data strategy is accepted as critical for the long term success of an organisation. Once implemented, a data strategy will improve efficiency, help to manage operating costs, support global growth, enable rigorous risk management and enable reporting to clients and regulators.
A Data Strategy aligns with and supports the Business and IT Strategies
Data strategy is central to investment management and can either be a powerful enabler for business operations or, if done badly, a significant barrier to growth. A successful data strategy will provide the vision and roadmap to advance the data operation from current state to a target structure, including implementation of a strategic data architecture, data operating model and data governance.
Once implemented, a data strategy aligned to the business and IT strategy will:
- Provide the scalability required by the business
- Create consistency across the business for its data with coherent definitions, accuracy and timeliness to meet the business needs, including the demands of new instruments/products from a trading, operations and risk and compliance perspective
- Establish a fit for purpose platform for delivering data to business applications
- Remove duplication and inefficiencies in data management processes, thus creating a cost-effective data operation
- Provide data for client and regulatory reporting that the business can rely upon to be current and correct
- Minimise the data collection costs and the fees paid to market data vendors