Complexity in data and data management is like a fault line running through the organizations and strategies of capital markets firms. It consumes resources, introduces dangerous risks, and limits firms’ ability to capitalize on artificial intelligence and other new technologies. For that reason, simplifying the process of acquiring, managing and employing data has become a top priority for firms around the world.
The IT infrastructure that runs most large financial service organizations can be sprawling and disjointed. Systems that power individual businesses and functions operate in silos. As a result, within one organization, a single piece of data can reside in multiple locations. Often, data housed in different systems exists in different formats. Complicating this situation is the fact that these various data iterations are not static. To the contrary, they are constantly changing as they move throughout the organization.