Where does your organization stand in terms of its embrace of data analytics? If you’re like most enterprises, you’re probably just starting to get your arms around the opportunity and challenge. In many cases, IT leaders feel their infrastructures are not ready to handle the crush of new data and accompanying analytics applications.
That’s the gist of a new survey released by State Street, which suggests that organizations are only just beginning to get a grip on their rapidly bursting data environments. The survey of 400 investment firms finds that while 81 percent view data and analytics as one of their top strategic priorities, only 37 percent have advanced data infrastructure, expertise and high quality governance in place. Investment firms, of course, orbit in the same space as many insurers, and thus both likely share the same types of concerns. Interestingly, the survey finds insurance companies are more likely to be further along in becoming “data innovators” than their pension fund counterparts 44 percent, versus 22 percent.
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