Data: The Most Underused Asset in Your Business

In today’s financial services landscape, data is often called the new oil. But if that’s true, most firms are still sitting on barrels they’ve never bothered to refine. We’re collecting more data than ever—transactions, behaviours, preferences, patterns—and yet, when the time comes to make business-critical decisions, too many organisations fall back on instinct, siloed knowledge, or outdated reports.

We’ve seen this movie before. Companies invest millions into cloud platforms, build expansive data lakes, and bring in cutting-edge tooling. But somewhere between ingestion and insight, the engine stalls. Why? Because having data isn’t the same as using it. Infrastructure is only half the story. The other half—how data connects to business objectives, how it becomes usable for non-technical teams, how it drives action—is where most programmes lose momentum.

It’s a bit like building a state-of-the-art kitchen and then living off microwave meals. The tools are there, but the utility is missing. And in a market where margins are tight, regulation is evolving, and customer expectations are rising, that gap between potential and execution isn’t just inefficient—it’s dangerous.

This is where a more deliberate approach to data comes in. It’s not about collecting everything because you can. It’s about collecting what matters, knowing why you’re collecting it, and designing systems that make it easy for the right people to do something with it. That’s not just good practice—it’s business-critical.

The truth is, data is no longer a competitive advantage on its own. Everyone has it. The advantage now lies in how quickly and effectively you can use it to drive decisions, automate intelligently, and respond to change. That means putting purpose before platforms, and outcomes before outputs.

In short, don’t just build the kitchen. Learn how to cook.

Borja Ochoa, our Global Head of Data, will speak more to this next week. He’ll dig into how organisations can shift from simply stockpiling data to actually using it—starting with a clear business objective and ending with insights that make a difference. It’s a practical take on how to ensure data delivers real value, not just impressive dashboards. He’ll also explore how thoughtful design—both in terms of architecture and user experience—can turn data from a passive asset into an active driver of performance. Keep an eye out for his deep dive—it’s well worth the read.