Morgan Stanley knows how important data is to the core of their business and in 2018 they created the data center of excellence to help the firm better organize and import data; “The acceleration of data volume and the opportunity this data presents for efficiency and product innovation is expanding dramatically,” said Gerard Hester, head of the bank’s data center of excellence, to American Banker. “We want to be sure we are ahead of the game.”; the firm has already started creating new products like their Next Best Action offering for financial advisors; they are also looking have a better accounting for who uses the data and why, data owners will be responsible for accuracy, security and quality of the data they contribute. Source.
