Buy-side Ramps Up Cloud Adoption for Data Management

Asset managers based in Europe and North America are increasingly seeking cloud technologies to manage the onslaught of data, according to a survey from IHS Markit. IHS Markit’s research, conducted by WBR Insights, of 100 buy-side representatives with $10-100 billion in assets under management found that cloud adoption has reached a tipping point on the buy-side, with 80% of firms stating they will use the cloud for data management by the end of 2020. The results revealed that 52% of investment firms currently use the cloud for data management, and a further 28% have plans to migrate data management to the cloud over the next 18 months. Almost half of firms also confirmed that they have outlined plans to establish a data warehouse within two years, as the buy-side continue to manage regulatory reporting requirements.