We all have access to vast amounts of data, and every day more becomes available, from both established and new sources. Third-party providers constantly roll out additional data feeds. More and more proprietary sources become available for asset managers to try to leverage. As both the amount of available data and the number of sources for it grow, it becomes increasingly complex for asset managers to aggregate, manage, and use even the best data effectively.
- How do I accept data into my ecosystem? Am I standardizing that data in ways that allow my firm to use it effectively alongside other data sets, throughout the organization?
- How do I enrich, slice or categorize (e.g. assign line of business or territory), and summarize data? Am I able to differentiate these processes for the various channels across my firm, so that each channel sees what’s meaningful for them?
- What other business systems require this data? Are we effectively managing the communication and flow of data between these systems?
If you’re like most asset managers, you take in many external data sources to augment your existing internal data. Each of those data sources has different data elements, quality, granularity, and format. If you have an antiquated data strategy and ecosystem, getting to the point where you can really use this data to help you get insights and sell more effectively becomes both expensive and unnecessarily complex.
What’s the solution?
Request a copy of SalesPage’s white paper: Data—are you riding the crest or drowning? Master your client data. This whitepaper dives into the problems with standardizing data, treating it the same and making it accessible and provides solutions.