Rethinking Data
Every element of data for the financial markets — usage, content, ownership, administration, management, pricing and delivery — has fundamentally changed in the last 15 years. Moreover it is going to change even more in the next decade. We can no longer operate as we have because: “That is how it has always been done.” Current business models and processes are changing but do not yet fully reflect the new reality. More importantly, the new reality itself is changing because of recent events and more to come. Whether you work for a data creator (exchange or information company), vendor, of financial firm, it is time to think “outside the enterprise.” Join us to create an emerging public dialog on industry-wide data management and administration.
By the end of Rethinking Data you will understand:
How events in the past created the legacy problems we must now suffer. The current data environment as enterprises attempt to create vend and consume data throughout the enterprise based on extensive global research including:
- The way that data content is changing;
- Evolving types of data usage and in particular the rapid evolution from trading desks to trading apps;
- The chaos created by notions of ownership crafted in the closed, contained information past attempting to survive in an open unconstrained present and future;
- The issues of administering data given the rules that now exist;
- The management of data using current concepts of unit of count, reporting, and audits with existing entitlement and inventory tools;
- Pricing data services based on usage, need and ability to pay; and
- How data is distributed both among and within enterprises.
What we jointly agree in an open discussion at the end of the class is likely to be a future in which many of the current concepts of data must adapt to accommodate the changing environment. We will discuss the idea that data management abullet lists and .pdfs as pnd the data business must transcend the enterprise.
Schedule: TBA
Course Instructor: Tee Williams is a well-known consultant and Principal of Tee Williams Associates. Tee is an expert on market data operations and strategy, helping exchanges, vendors and financial institutions with the information technology. He wrote "Death of 1000 cuts: Strategic Peril and Potential in the New Market Data Industry."