Data Management
Business Challenge
Data is critical to everything you do: Investment Decisions, Reporting, Analytics, Performance Measurements yet data isn’t your core competency. You can’t ignore it but your efforts to delegate it to IT or a junior analyst don’t work either.
Effect
You aren’t happy with the length of time it is taking to get answers to management questions or investor inquiries. All too often you see problematic reports presenting out-of-date data or drawing incorrect conclusions based on faulty data.
LPA Solution
We will help you define, implement and troubleshoot a data strategy that is appropriate for the size of your organization and its needs. This includes ensuring that the data is: timely, can be produced repeatably, reliable, accessible to those who need it, and most importantly associated with a well-defined business purpose.
Example
Conflicting Analytics
Situation: Finance and portfolio management teams producing conflicting reporting on basic elements such as exposure by property type or location. As a result, management’s confidence in critical disclosures and analytics were compromised.
Action: Conducted root cause analysis and determined that: data was coming from different systems used for different functional purposes, multiple property portfolios were complicating analytics due to different allocation methodologies, and a difference in timing of data updates. Gained management support for “single source of truth” standardized definitions, and timing of data updates.
Results: Single source became the starting point for all reporting and analytics, decreasing report production time, increasing confidence in reporting and analytics and eliminating time spent reconciling between reports.