Like many businesses research has reached an inflection point. Scientists, analysts and academics are amassing data at unprecedented rate. Thanks to the growing need for collaboration within and between disciplines huge amounts of data and content must be shared and analyzed to have impact.
Technology is changing at dizzying rates and the world with it. This means that for insight to be relevant, it has to be timely. This is particularly true in financial markets. Time spent producing material manually when it can be created automatically is time wasted. Through automation and digital technology, insight can be brought to market faster and distributed more easily and extensively.
Cloud computing transforms the power of the desktop. It can provide software applications and computing power to users as a service over the Internet via familiar tools. The cloud is constantly managed and upgraded, providing the ability to deliver technology resources on demand – a “pay as you go” strategy with access to virtually unlimited computing capacity.
The cost to use 10,000 processors for an hour is the same as using 10 processors for 1,000 hours, but will deliver radically faster analysis to the researcher. Organizations can buy just-in-time services to process data and exploit it, rather than on a perpetual refresh of infrastructure that not only increases the capital costs associated with the computing, but also the energy management and security issues.
Besides the analysis and insight we must also consider the way research is presented. We have made enormous progress in data visualization and in rich media content. The technology of user interfaces has come a long way even in the last year. Thanks to social media the opportunities for distribution have increased substantially.
The need for speed to market affects all disciplines, particularly financial services. In investment research time to market is becoming more important as markets change more rapidly. By enabling researchers to do more with less, the exponential changes in technology will democratize the research industry to the benefit of all.