Holistic data management covering the investment fund ecosystem will help to continuously create value.
In many industries, points of access to goods and services are all rapidly becoming digital. Take the example of film distribution: first consumed only via cinemas, then television and video tapes, later DVDs and now through streaming. An exponential increase...
Today, success depends on the ability to have or interact with digital points of sales, indeed in some sectors it may be the critical element. Consumers expect to make purchases or have services online in a seamless and simple manner. This does not just benefit buyers, companies that focus on digital points of sales find that their ability to better understand their clients and to create value is vastly improved.
In a digital world, the one component that links both is data. Improving and maintaining the quality of the data and delivering data efficiently is therefore fundamental.
The investment fund industry is not immune to this shift and expectations of today’s fund buyers are high because of their online experiences in other areas. Fund players understand that the product creation and distribution ecosystems must change. Digital transformation, big data techniques, machine learning and artificial intelligence will enable them to vastly improve the value chains and to have a strategic and real-time overview of their businesses. For this to happen effectively data quality is of paramount importance.
Head, Business & Relationship Development, Client Service Management (Fundsquare)
But all too often, much time and resources are wasted, because ensuring data quality has been overlooked or put aside to the future in the rush to other priorities.
It should go without saying that if the data produced is unreliable then actors in the ecosystem will have difficulties implementing digital transformation initiatives on their own. But all too often, much time and resources are wasted, because ensuring data quality has been overlooked or put aside to the future in the rush to other priorities.
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Paperjam, mai 2019