There's no question that data flow behind almost every decision and financial transaction in the world, but how managers view the data can vary.
State Street Global Exchange commissioned the Economist Intelligence Unit to conduct a global survey of more than 400 asset owners and managers to identify key challenges they face when seeking to harness the power of data.
According to the survey conducted this summer, 91 percent of respondents said big data is a "key" strategic priority, and 37 percent said it's the single most important strategic priority. State Street considers the former "data laggards" and the 37 percent group, "data leaders."
Eighty-six percent of respondents increased investments in data and analytics in the past three years. Industry trends are forcing institutional investors to learn how to manage data. Among the reasons are more stringent risk management standards (34 percent), increased regulatory demands (33 percent) and expansion into new asset classes (32 percent).
Of course, good managers know that mastering data is about having the right talent to handle the vast amount of data out there.
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