Breaking the silos has been saved
Breaking the silos
The journey towards shared meaning and organizational knowledge
What does the data you hold really mean? It’s a subject that asset managers should pause and think deeply about. On the surface, data appears to be expressed by a simple formula, a number or sentence but that is not enough to build a comprehensive view. In reality, data resides in siloed systems resembling a town market where each trader speaks a different language—and naturally, this is ineffective for the long-term.
At its core, data is just that: data. Disintegrated numbers, letters, or symbols that provide little meaning on their own. Ordering, structuring, and presenting these data points in a useful manner and context makes them informative, enabling audiences to extract meaning from them and make sense of the world.
Given the abundance of data that asset managers face daily, it matters that data per se is not actually that useful. Instead, people need to adopt a broader perspective, assigning meaning and relationship context to data. Only by doing so can they form a holistic, non-siloed data strategy across the entire organization.
Performance magazine issue 35, May 2021
Performance is a triannual digest, dedicated to investment management professionals, which brings you the latest articles, news and market developments from Deloitte’s professionals and clients.