Rob Martinez, CRO, Code Willing, Inc.
The Code Willing team recently had the privilege of attending the BattleFin conference held in London from September 26th-27th, 2023. This prestigious event drew an impressive crowd of top Global Hedge Funds, Asset Managers, Global Banks, and Private Equity firms, all united by a common goal: to explore new data and technologies that could revolutionize their investment and decision-making processes. As one of the Data and Technology providers present, Code Willing exhibited, participated in panel discussions, and engaged with potential users to showcase our innovative CWIQ Suite of solutions.
Having been deeply involved in the world of Alternative Data (ALT Data) for the past decade, I’d like to share some of the recurring themes and insights that resonated with attendees during this event. These insights highlight the challenges and opportunities within the data and technology landscape, where Code Willing is well-positioned to facilitate and provide solutions.
1. The Hunger for More Data and Technologies
One of the central themes that emerged from conversations at BattleFin London 2023 was the insatiable appetite for data and technology among both providers and consumers. In the relentless pursuit of alpha generation and risk mitigation, there was a unanimous desire to sell and buy more data and technologies to stay ahead of the curve.
2. The Need for Accelerated Evaluation and Decision-Making
In the fast-paced world of finance, time is of the essence. Attendees expressed a common sentiment: the need for faster evaluation and decision-making processes. Waiting for months to assess data and reach a verdict can be detrimental. Faster evaluations could lead to more data discoveries and, consequently, more data purchases.
3. The Power of Normalized and Connected Data
The key to expediting evaluations and reducing decision time lies in normalized and connected data. Many at the event believed that such data could cut evaluation times by at least 50%. The importance of this efficiency cannot be overstated; it could enable more data to be evaluated, ultimately benefiting both providers and consumers.
4. The Frustration with Extended Evaluation Times
Frustration was palpable among both buyers and providers regarding the prolonged evaluation processes. Discussions revealed that the average time to evaluate data ranges from 3 to 6 months. Beyond legal considerations and market conditions, two factors stood out:
- Data Cleaning and Mapping: A significant portion of evaluation time and data science resources are consumed by data cleaning and mapping efforts. This crucial step often constitutes the bulk of data evaluations.
- Point-in-Time and PII Confirmation: Ensuring data is “Point-in-Time” and free from “Personal Identifiable Information” (PII) is essential but time-consuming. Delays in these checks can skew evaluation results and slow down the decision-making process.
Code Willing’s Mission and Solutions
It has been my personal mission over the last several years to figure out a way to accelerate data evaluations and further streamline the engagement and data evaluation process. In joining forces with the Code Willing team, we believe we have both the expertise and the solution to tackle these challenges effectively.
Our comprehensive technology suite not only enables the seamless connection of data at scale but also provides an array of tools to accelerate and streamline the evaluation process.
Our CWIQ Code product addresses the mapping and data connectivity challenge. It simplifies the process of integrating diverse data sources, making it easier for data providers and consumers to work together seamlessly. Alongside CWIQ Code, CWIQ Data Store allows you to ensure that your data is not only clean and error-free but also easily accessible. This combination significantly reduces the time-to-market, ensuring that valuable data can be evaluated and utilized faster than ever before.
We are committed to facilitating a smoother experience for both data providers and consumers.
Conclusion
BattleFin London 2023 was an exceptional event that underscored the significance of data mapping, connecting, and wrangling as the primary concerns facing data consumers today. At Code Willing, we are dedicated to finding innovative solutions to address these challenges.
If you’re interested in learning more about how Code Willing can help you achieve your objectives or have any questions about our services, please do not hesitate to reach out. I look forward to continuing the conversation and exploring the most pressing issues in the data community in the future.
