Developments in data management shaped by tougher user requirements and greater complexity
There are two major trends that drive change in enterprise data—the growing requirements of data users and the rapid accumulation of ever more complex data.
Enterprise data management is impacted by growing data volumes, greater complexity and faster processes
In the current fast-paced environment, regulatory requirements for higher standards of transparency are becoming more stringent across all industries, while product differentiation and customisation create additional complexity. Process and system controls must be equal to the new regulatory requirements and the increasing complexity of products. Consequently, ever more data has to be collected to satisfy the requirements of external and internal clients.
Increasing reporting and risk requirements
- Increasing requirements or reporting to regulators, local authorities, clients and business partners
- Increasing risk management requirements
Growing volume of data
- Sharp increase in data volume through systematic accumulation of data
- The constant effot to develop new products for new or existing markets is a key driver of rising data volumes
- Dealing with the growing complexity of controls arising from new regulation constraints (for example: regulatory capital requirements, etc.)
- Newly developed products become increasingly complex and differentiated from existing products – to the extent of structuring projects specifically for a particular client
- This differentiation is a key driver of complexity as it becomes ever more difficult to distinguish these products
Inside magazine 1 – June 2013
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
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