Welcome back! If you've just joined us, we're in the middle of an initial series of blog posts designed to give our readers a bird's eye view of how technology is helping asset managers address today's operational issues.
Today's post echoes a theme highlighted in a brand new Institutional Investor Intelligence survey, which found that nearly two-thirds of investment managers looking to upgrade their systems in the next three years want to improve one aspect in particular: data management.
For asset managers, “data management" means three things. First, you need to gather data from what historically have been disparate systems – OMSs, accounting systems, risk systems, commission management systems, and so on. Second, you need to normalize the data – that is, to standardize it and make it easy to work with. And finally, you need to report that data to three very different constituencies:
This used to involve a lot of hard manual labor, and not a lot of real-time results. But today's markets demand the technology that can manage data in real time. This means you can no longer rely on just moving files around; what's required are programmatic, API-driven techniques that are not only comprehensive and scalable, but also allow for real-time analysis and reporting. The next generation of web services will be using Internet languages like the RESTful API….
But that's a topic for a later date! Until next time, here's a little further reading on Eze's approach to data management, and be sure to subscribe to my blog below!