When it comes to information management, companies can be like the sailor who, in a 19th century poem, exclaims, "Water, water everywhere, nor any drop to drink." For financial services firms, potentially useful data springs from a multitude of sources, including call centers, transfer agents, brokerages, Internet contacts and portfolio managers, and in a variety of forms. The challenge is to channel that flow of information so that it becomes a useful resource.
Today's competitive environment makes instant access to real-time information an urgent priority. Efficient data management can lead to improved customer loyalty and asset growth. In-depth sales data can sharpen the focus of a marketing campaign. Tracking the activities of individuals and business units can produce operational efficiencies.