Aug 31, 2022
Nov 10, 2023

From Data Chaos to Clarity

Our client is a leading investment advisory firm in New Zealand, providing customised investment solutions to a wide range of clients, including private individuals, corporations, and institutional investors.

Since its establishment, the company expanded from a single regional office to a national network of advisors. They have played a significant role in some of New Zealand's most prominent corporate transactions, while also providing personalised investment advice to clients across the country

The Challenge

Years of rapid growth meant data was spread across various systems without a clear data strategy or a central figure overseeing it.

This jumbled setup led to data inconsistencies and mistakes, undermining the firm's confidence in their own data. Consequently, data mistrust spiraled into missed opportunities and alack of data-driven decisions.

To make matters more complicated, hundreds of diverse PowerBI reports existed, some untouched and others duplicating data through different metrics. This muddle of reports diluted data trust even further and made it difficult to identify the real source of truth.

Recognising the pressing need for a unified data strategy and governance, our client brought in the Data Insight team for expertise.

Our Approach

  1. Customised Data Governance: Understanding our client's unique needs, we tailored a data governance framework for them. This involved creating operational models which spelled out roles, responsibilities, and the decision-making journey for data from its origin to its end.
  2. Communication and Clarity: Crafting clear policies and procedures, we set out comprehensive guidelines for handling data, from capturing it, storing, sharing, to safely disposing of it. We also set firm guidelines for data privacy and protection.
  3. Unified Data Language: A Data Glossary was crafted to ensure everyone within the firm had a unified understanding of data terminologies. This eradicated any ambiguity or confusion.
  4. Data Quality Standards: We delineated specific quality requirements for data, laying out the benchmarks for it to be deemed trustworthy, precise, and actionable.

The Outcome

With a robust governance framework and a clear data strategy in place, our client could transform their once-chaotic data ecosystem into a well-oiled machine, primed for making accurate, swift decisions, cementing their place as leaders in the investment advisory sector of New Zealand.

Key Client Benefits

Crystal-Clear Roles

Our comprehensive governance framework crystallised roles, responsibilities, and expectations, enabling our client to swiftly set their data programme in motion with everyone knowing their specific roles.

Quality and Clarity Boost

With our guidance, the client swiftly improved data quality and clarity internally, re-establishing, and solidifying trust within their data infrastructure.

Ensured Compliance

The new operational model we established made sure that our client not only maintained top-tier data accuracy but also rigorously adhered to industry norms and regulations.

Enhanced Decision-Making

By unifying data terminologies, setting clear quality standards, and implementing robust governance, we empowered our client to harness their data for sharper, more informed decisions, driving optimal investment outcomes for their clients.