Data unleashed – five ways COOs can equip their businesses to win the data race
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For institutional investors, an optimised data strategy creates transformative opportunities. Chief operating officers (COOs) must grasp advantages that prepare their businesses to turn those opportunities into growth potential. Findings from the State Street research with asset owners, asset managers, alternatives managers, wealth managers and insurers reveal that only a minority of firms have begun to realise this potential.
More than 80% of respondents expect sizeable opportunities to em
erge from enhanced data management, yet only 41% reported substantial headway in their data transformation journeys. An equally low proportion have rated their interoperability across the front, middle and back office as “good” or “very strong”.
Investors have long relied on data analysis to inform decisions, but advancements in artificial intelligence (AI) are unlocking new possibilities. Unprecedented data access and improved analysis provide advanced support for investment decisions, detecting risks earlier and customising sales and marketing initiatives.
As advances in AI open a new frontier, businesses should be grasping the advantages that technology has to offer.
In this white paper, we explore five ways back-office teams, spearheaded by COOs can lay the groundwork for their business to win the data race.
The “Data unleashed: Five ways COOs can equip their businesses to win the data race” white paper is brought to you by State Street
