EFIS 2016: Defining Data, Building Trust Key to Managing Consumers and Vendors, Say Data Managers

Communication with end-users and vendors alike is key to managing costs and supplier relationships, panelists said.

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Panelists agreed with moderator James Humphrey-Evans, partner at Bortstein Legal Group, that a single definition of market data would help control costs, but said that any definition should also be sufficiently broad as to ease the job of those charged with procuring it.

"This allows you to look for duplication, displacement, etc. It's common within an organization for most people to not really know what market data is. Even though there is this trend for people to focus more on the data, the a