"Data strategy in asset management is fast moving from its infancy to a more developed phase," says Ugo Catterina, senior vice president and head of U.S. internal audit at Allianz Asset Management. "If you don't have a solid strategy and you consider everything at the same level, there is no prioritization, and the ensuring mayhem makes it extremely difficult to find direction in this ocean of data. But a significant number of asset managers in the United States are starting to tackle data strategy in a professional way."
In other words, the quality of an organization's data strategy - and the presence of strong leadership to deploy and enforce that strategy - can mean the difference between institutions that successfully navigate their data and those that get lost at sea.
