Michael Asher, President and COO at RFA, explores how data management requires a more nuanced process, with customizations implemented on a by-enterprise basis, rather than a traditionally rigid and systematic approach.
Faced with exponentially increasing amounts of data, it can be easy to see why hedge fund, private equity, traditional asset management and other alternative investment firms have traditionally deploy a rigid and systematic approach towards their data management.
However, this is based on a fundamental misunderstanding of the importance of data management. Data management instead requires a more nuanced approach, with customizations implemented on a by-enterprise basis.
The risk of getting data architecture wrong is very real for firms, which are having to work with a continually growing universe of data. Getting the data architecture wrong means a firm can be working off an improper foundation. This creates significant problems for a firm and how it manages data in the long-term. Therefore, decisions around a firm’s data architecture are crucial and should be dealt with head-on. Investment firms of all sizes are having to contend with these questions and make decisions on scalable long term solutions to fulfil their day to day business and deal flow needs.
Our clients are operating in a ‘perfect storm’ and continually face pressures on technology, regulatory and competitive fronts. As these alternative investment enterprises and their CTOs continue to wrestle with these pressures, infrastructure efficiency and productivity are mission critical to survival.
For this reason, we help clients leverage cloud solutions for their data architecture requirements. A managed data services platform creates an efficient data flow that allows all participants to better understand, access, and harness the power of data through digital warehousing and ingestion, preparing it for analysis. This cost-efficient infrastructure benefits from automation and removes the requirement for teams to spend hours on manual processes.
One of the main benefits of utilizing cloud technology, aside from the scalability and security it offers, is its centralization potential. Centralizing a firm’s data through sophisticated data management tools harness all critical information that keeps it safe from cyberattack and allows efficient data access. This access is achieved through a central remote dashboard. Data can easily be sorted, viewed, extracted and reported on from the one central cloud base.
At RFA, providing firms data architecture support is a core part of our white glove service. The pandemic forced many firms to accelerate their digitization journey, and we worked with businesses across the industry to implement new data architecture solutions. The cloud was a crucial part of this. With the right data architecture, firms can drive automation, streamline processes, and increase visibility of their data, always with critical business strategies in mind. Once data is architected properly, the cloud can act as a platform for made-to-measure solutions that incorporate current systems and practices.
We understand firms’ data management requirements are continually evolving, which is why we have invested in becoming an innovative service provider that can support firms in where their technology needs to be. Fundamentally, this involves moving away from an off-the-shelf mentality. There is no one-size-fits-all data management solution, and it is worth creating a bespoke solution that fits your business needs. The service we provide is built upon our commitment to R&D, willingness to develop customizable solutions, and an ability to be available 24/7, 365 days a year. We never outsource work, ensuring a reliable and dedicated white glove service. This means the dedicated RFA team working on this data management architecture become familiar with the enterprise being supported, and understand what is required for it to meet its long-term goals. An off-the-shelf or one-size-fits-all solution will not extend to the capabilities of a solution designed specifically for your firms needs.