Data management is no longer simply an internal challenge for asset managers as they face increasing pressure from clients to respond to growing demands for data.
Data quality improvement has leapt up the business agenda with over two-thirds of buy-side firms citing this as their primary data management priority. Quality is now the single most important concern, followed by data governance. An overwhelming majority of firms acknowledge the main benefit to adopting best practice is data quality, followed by data cost control as the secondary benefit.
Alessandro Ferrari, SVP Global Marketing, RIMES, says: “It’s a tough and unforgiving market environment for the buy-side at present. Facing pressures from clients to increase data sources and deliver higher levels of data customisation, asset managers are also under pressure to reduce costs and meet incoming regulation, particularly in Europe. It’s a perfect storm that means those firms with a robust data management strategy in place will come out on top.”
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