Better Data Management is Top Priority for Toronto Conference Attendees

Maturity of current systems at lower end of the scale, according to informal poll

At the Toronto Financial Information & Technology Summit on June 7, almost half of attendees surveyed said improving data management is their top focus, while the average maturity of data management strategies was ranked 4.47 on a scale of 1 to 10.

Improving upon data management appears to be the top priority for attendees at the Toronto Financial Information & Technology Summit, according to responses to poll questions asked on an interactive system during the conference on June 7.

Asked about their biggest priority for the coming year, 44 percent of the 70 attendees who responded cited data management. Technology innovation received 26 percent of the votes; regulatory strategy received 14 percent; automation received 11 percent; and cyber security received 4 percent.

In another poll, those at the conference were asked to rank the maturity of their data management strategy on a scale of 1 to 10, with 10 being the most mature. Of the 47 responses, the most common ranking was 3, which was chosen by 21 percent of the voters. The average response on the scale was 4.47, which was below the mid-point and suggests the audience perceived that data management strategies require more work.

Another question asked using the application during the conference was about cross-jurisdictional operations challenges. From a total of 24 responses, 75 percent said they use separate systems for each jurisdiction; 13 percent said their systems can handle all jurisdictions; and 13 percent said they kept their operations domestic because of the complexity of operating in other jurisdictions.

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