Insights

August 2021
 

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Shaping the Future of Data Management

shapingTheFutureOfDataManagement

Data is at the heart of every investment firm’s operations. An effective data management strategy can help institutional investment and wealth managers uncover new insights, operate more efficiently, better serve their clients and raise more assets.

But firms face many challenges when it comes to data management. The sheer volume of data can be overwhelming. Managers need new, innovative tools to curate and interpret the breadth of both structured and unstructured data at scale.


Fragmented, siloed data also poses a challenge. Aggregating and reconciling data from multiple sources is time-consuming and complex, compromising timely investment decision-making and increasing operational costs. Multiple data streams often result in conflicting or unverified data — undermining investment professionals’ confidence in their investment decisions. Data velocity also becomes a consideration. With trading decisions accelerating, post-trade timeframes and batch (overnight) processes are giving way to more real-time intraday processes.

As investors seek new growth opportunities, respondents in our fourth annual Growth Readiness Study told us that elevating productivity, migrating to the cloud and moving away from legacy IT systems will be their most critical actions in 2021. Seventy-two percent are attaching greater importance to increased operational resilience than to other strategic actions, as they adapt a platform that support growth over the next 12 months. Investing in new technologies instead of maintaining legacy systems also rose sharply in importance.

In a recent Speaking of Alpha article, we discussed the role that Alpha Data Services plays in helping investment firms streamline their operating model by outsourcing data management operations to a trusted service provider. Following the announcement of our Alpha Data Platform launch and our partnership with Snowflake, we spoke with John Plansky, global head of State Street AlphaSM and Spiros Giannaros, CEO of Charles River Development to understand how this collaboration is helping our clients better manage their data.

John Plansky

John Plansky
Executive Vice President
Global Head of State Street AlphaSM

Spiros Giannaros

Spiros Giannaros
Chief Executive Officer,
Charles River Development


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