Data Programs—Enabling the Business

This WatersTechnology special report focuses on data management challenges at investment banking and asset management firms—specifically the role chief data officers (CDOs) must play in overseeing complex, long-term data projects. A crucial responsibility many CDOs face is achieving buy-in from business units impacted by new data management initiatives, while also making a strong business case to executive leadership to obtain necessary funding for these efforts.

What makes for an effective business as well as operational argument to undertake a new data management project? First, industry sources we spoke to reported dwindling appetites for enterprise-level data projects. Instead, CDOs are more likely to achieve buy-in for new projects tied to specific business functions; for example, data governance, reporting and risk management are currently attracting significant attention from CDOs as well as their C-level colleagues. While risk and compliance factors command increasing focus from investment bankers and asset managers, CDOs often face more pressure to provide strong business cases when proposing data projects targeting other functions.

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