The ability to manage and generate insights from vast quantities of data becomes critical in an investment climate that is volatile and uncertain. Building on our previous research on data use and management, our industry survey of more than 900 asset managers, asset owners, insurers and wealth managers reveals why investing in advanced data strategies is an increasingly important priority for the industry.

Many firms see HDS as a strategic imperative with significant economic benefits, enabling them to respond rapidly to new market conditions, customer needs or evolving regulatory requirements. UK firms are already harnessing data to deliver better investment returns. They are particularly adept at using data-led insights as part of their research process, with 74 percent of UK respondents citing this as an area where data is delivering the greatest return to the business (compared with a global average of just 58 percent).

UK institutions also excel at using data to govern their outsourced operations and meet regulatory requirements, with 63 percent citing this as an area where they are effective compared with a global average of just 46 percent. More generally, UK firms are ahead on data maturity, with half of them expecting to have a defined data strategy in place within the next one-to-two years (versus a global average of 43 percent). This suggests a strong commitment to developing future-proof data strategies that will help UK firms to remain competitive in a rapidly evolving market.

The report goes on to reveal how firms in different regions are working towards a HDS. It provides insight into how leaders in HDS expect to boost investment returns, increase revenues and deliver significant cost savings for their organizations. It also shows where firms are prioritizing their technology investments to deliver an enduring competitive advantage.