Joint BMLL and WBR survey reveals rising investment in buying-in third party data and analytics capabilities to support in-house quantitative research
Submitted
27/01/2021 - 7:03pm
BMLL and WBR Insights have published new buyside research exploring how market participants use Level 3 data and analytics in their daily trading decisions to uncover predictive signals for algorithmic performance.
The Whitepaper “Buy-side usage of Level 3 data analytics for algorithmic performance” found that high quality data has become a commonly utilised commodity by most market participants who manage their AUM quantitatively; 74 per cent of respondents said they use Level 3 data in their research program to improve alpha generation and mitigate risk.
How do most organizations begin their Artificial Intelligence (AI) journey?
Let’s look at how leaders of some large enterprises planned their foray into AI. Here are a couple of recent examples from McKinsey:
The leader of a large organization spent two years and hundreds of millions of dollars on a company-wide data-cleansing initiative. The intent was to have one data meta-model before starting any AI initiative.
The CEO of a large financial services firm hired 1,000 data scientists, each at an average cost of $250K, to unleash AI’s power.
And here’s an example that I witnessed first-hand.
The CEO of a large manufacturer lined up a series of ambitious projects that used unstructured data, since AI techniques are very effective with text, image, and video data.
Department of Agriculture
1.
The Secretary of the Department of Agriculture should direct the Chief Data Officer to perform an assessment of current staff data literacy and data skills, conduct a gap analysis between the current staff s skills and the skills the agency requires, and establish a baseline performance plan to close the identified data skills and literacy gaps. (Recommendation 1) Open OpenActions to satisfy the intent of the recommendation have not been taken or are being planned, or actions that partially satisfy the intent of the recommendation have been taken.