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. Luxembourg’s institutions are at the forefront of the race to harness data for competitive advantage. Almost two-thirds (62 percent) of Luxembourg’s respondents in the survey expect to have a data strategy in place within one-to-two years – a figure far exceeding the global average of 43 percent. This reflects Luxembourg firms’ strong commitment to delivering advanced data capabilities.

The country’s organizations are also investing in the skills required to implement HDS. Over half (53 percent) of Luxembourg’s firms are investing in workforce expertise via staff training, which is notably higher than the global average of 43 percent. These investments in data strategies and skills already yield significant benefits. Almost three-quarters (74 percent) of Luxembourg’s institutions say they are very good at using data to define investment objectives, compared to just 59 percent globally.

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.