Moving Up the Data Maturity Curve
In their quest to tap and retain a competitive edge, asset managers have begun seeking new ways to leverage their data to their advantage to produce meaningful, alpha-generating insights. However, through their continued use of patchwork systems, many have quickly come to realize that the lack of a proper master data management platform (MDM) to accurately and efficiently manage data greatly hinders their ability to reach the long sought-after state of data maturity and insights delivery.
Most buy-side firms are still in the early stages of the data maturity curve. However, as more of an emphasis is placed on the use of data, residing in the stages of “Data Chaos” and “Isolated Data Projects” is no longer viable, especially in this ever-evolving and competitive landscape. As a result, managers must continue to embrace master data management platforms and digital-first services to propel themselves further up the data maturity curve, beginning with the implementation of a comprehensive data layer or centralized data repository as the foundation of their firm.
Coinciding with the lack of proper infrastructure plaguing firms across the industry, managers face several challenges that stand in the way of generating accurate and meaningful insights from their data, such as:
- Consistency: Data is often consumed at various different touchpoints, leading to the potential for dataset duplication and quality issues.
- Governance: Data from providers or other upstream systems may have missing or incomplete information.
- Consolidation: Varied forms of data stored across multiple systems can lead to inefficiencies and be a hindrance to quick accessibility.
- Transparency: Multiple teams might have various degrees of concern and questions around data that’s created and its quality.
- Dependency: Firms rely on their service providers for reporting data, increasing both time and cost.
- Integration: Setting up integration with a new source system can be a hard and slow process, especially when lacking the tools needed to continue onboarding new datasets easily and efficiently.
Backed by a reference architecture for the buy side with a next-generation data layer, IVP’s Master Data Management platform (MDM) comprises a suite of cloud-based solutions that work in unison to help firms solve these aforementioned challenges with flexibility and ease by organizing, categorizing and localizing diverse datasets. It provides data processing, federated governance, lineage, cataloging and distribution with a no-code implementation model, thereby allowing key users to set up data flows and productionize them rapidly.
Comprised of Security & Reference Master, Entity Master, Enterprise Data Management, Data Warehouse and Decision Science – asset managers using the IVP Master Data Management platform (MDM) are empowered to make the shift away from their use of patchwork, opaque systems that were not designed to work together and turn their attention to a comprehensive and integrated platform, helping them move further up the data maturity curve.