Questions remain about how to get the best value out of data and where the risks lie in data-driven decision-making
Superior data acquisition capabilities and data science skills are becoming key performance drivers for investment managers. As the value of big data grows, traditional funds are using data technology to remove biases from investment decisions, process alternative data and enhance research capabilities and risk management frameworks. .
Data also helps with democratising inputs as there is only one source of truth, which leads to better collaboration and repeatable research. Data-driven decision making increases accountability as the data can be accessed before, during and after a decision is made. It also enables better decisions that are more robust and can be replicated or improved as more data is consumed. Importantly for asset managers, data-driven decision-making helps remedy any conscious or subconscious biases and removes any irrationality in the decision-making process.
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