Roundtable Roundup: An Overview of Technology Needs in PE
May 14, 2018
May 14, 2018
Roundtable Roundup: The Premise
In March and April, Cobalt hit the road for our Roundtable Breakfast in Boston and NYC. These events, co-hosted by Hamilton Lane and Bison, were a technology spotlight with an emphasis on data strategy. A data strategy, a combination of business intelligence and utilizing appropriate technology, is essential to maintaining your competitive edge. With a well-planned digital data strategy, you can be an empowered decision maker across your organization.
Both roundtables featured speakers such as Dr. Rasmus Goksor, Griff Norville and Matthew Herzog who spoke around the following themes: the importance of a digital data strategy in the private markets, how firms approach data aggregation and analysis, and how technology solutions like Cobalt can help improve data usage with advanced analytics.
Key takeaways from the event for both LPs and GPs are as follows:
- Understand how your organization is currently collecting data.
Are these systems or Excel files sufficient? Do these systems grow as your organization grows? Can they handle continuous data collection on a pre-determined frequency (ex: monthly or quarterly)?
- Understand how your organization is storing collected data.
Is this data stored in a back office system such as iLEVEL? Is this data simply stored in excel? Will these storage systems grow as you continue to grow? Do these systems capture all of the collected data and metrics?
- Understand what you want to do with this data.
Are you trying to run advanced analytics on this data? Are you utilizing this data to build reports for board members? Is this data used for board presentation visualizations? Can your current systems handle the advanced charts and analytics that you want to run on your data?
Thank you to all of our attendees who were able to attend these past round tables. If you were unable to join us for our round table, learn more about Cobalt during our Webinar on Thursday, May 17th. For more information on our webinar, please click here.