20 October 2017
Elizabeth Lumley
Elizabeth Lumley

Elizabeth Lumley

Elizabeth Lumley - Girl, Disrupted

165Posts 690,208Views 173Comments
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Data Management 101

A community blog about data and how to manage it

It's the Data, Stupid

01 July 2009  |  3174 views  |  0

One of my former collegues once started a panel discussion on buy side technology by saying "Technology means nothing unless it has a business use."

He had a very valid point. The trendiest, up to the minute technology is all fine and dandy, but if you can't trade, invest, process with it--who cares?

The same can be said for data. There is a growing vocal community (especialy around risk management) that is offering up the radical notion that risk models work better with ('shock horror') real-world, clean data.

In the panel Payments and Risk Management at this week's EBADay in Vienna, James Dickson Leach, Operational Risk Consultant, HSBC Strategic Risk Consulting said that the number one advantage of payments was the data it offered risk managers. "You can use REAL data for your models," he said. 

What is risk management without REAL data that relates to actual up-to-the-minute transactions? I'll tell you: a bunch of trendy equations. And who cares about trendy equations? As we have seen over the past 18 months, not many.

 

TagsRisk & regulation

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Elizabeth's profile

job title Global FinTech Commentator
location Crayford
member since 2009
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Global FinTech commentator. Author of the Girl, Disrupted blog

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Member since 2007
165 posts173 comments

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