Asset managers don’t make full use of data, says survey

Only a limited number of asset managers are making full use of all data available them according to the results of a survey.

New research conducted by the Economist Intelligence Unit (EIU) revealed that only 13% of respondents indicated they successfully capture the full value from all of their data while 30% reported that the sheer volume of data makes it difficult to determine what is useful.

In other findings, nearly one in five respondents said they have no central leader in charge of data strategy while 29% of respondents stated their most significant challenge is data presented in non-compatible format.

“This survey confirmed for us what we recognise as some of our clients’ biggest challenges,” said Pete Cherecwich, Americas head of corporate and institutional services at survey sponsors Northern Trust.

“Whether they are looking for ways to manage their investment decisions, monitor their risks, or improve their reporting, they need to extract more value from their data to gain actionable insights.”