Information or Just Data?
Nowadays, we are submerged with terabytes of data—news from different websites, opinions, affiliations, and viewpoints. The first concern for readers is: am I reading the truth? Once this issue is resolved, the next question is: is it the complete truth? While the first question is easier to answer, the second one might be challenging.
Typically, a reader tries to find the truth from trusted sources. These trusted sources can make mistakes or even be biased, albeit being commonly accepted. However, a heavy bias or a mistake can turn a trustworthy source into an untrustworthy one very quickly.
After selecting a trusted source, the reader will try to understand if the information they received is complete. They will try to find the same information on different trusted sources and complement it to grasp the whole picture, but what if what he found contradicts between trusted sources? There will be a process of data selection, data shifting, data analysis, and a hierarchization process between those sources. All these tasks will be difficult without deep knowledge, not only of the subject matter, but also of the sources and the quality of the data.
That is why the reader will need help from an expert to understand the whole picture.
This analysis can be applied to financial markets and regulatory space, which are far more complex. Financial regulations require accurate and complete information on the business. To do so, firms will need to gather data from different sources, select trusted ones, define the hierarchy between sources, and analyze. All of that effort must be put in order to accurately calculate risk measures and comply with regulations. This heavy lifting requires knowledge of the business, data sources, data quality, and data standardization, as well as the knowledge of the regulation itself.
Thanks to our vast experience with Financial Markets and Regulation data, OTC can become the expert that the reader needs to grasp the complete picture. Our PATOne EDM and our team of financial analysts and technology specialists have demonstrated over the years that they can be the perfect partner in your firm’s regulations journey. Most importantly, in understanding the investments and the real risk of the firm