Panel Discussion on Data Management

Published on May 2, 2013 by Guest Blogger

I had the pleasure of moderating a panel discussion at our Annual Offshoring Strategy Conference 2013. The discussion revolved around leveraging technology and human capital to derive meaningful analysis, in the face of information/ data overload. Our panel reflected a rich diversity, with senior members from a bulge bracket Investment Bank, a large Asset Management firm, and one of the largest Hedge Funds.

Here are the key points the panel discussed:

• Data costs and data accuracy are a major issue for all financial services firms.

• Most major firms are wrestling with the issue of incompatible legacy systems and it’s important to have a clear plan for future integration of data onto a common platform.

• There is a lot of hype connected to the term ‘Big data’. For most practitioners, getting existing data into a functional and clean format is the biggest issue.

• There is a lot of hype connected to the term ‘Big data’. For most practitioners, getting existing data into a functional and clean format is the biggest issue.

• It’s important not to forget the human element in all systems. If the data does not work for the end user in the front or middle office, or does not meet customer requirements; the sophistication of data cleaning, processing, and output is moot.

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