Data control and commercialisation

Understanding and controlling your data asset without having the in-house skills can be an overwhelming task. Our service breaks this down into a series of steps which we can deliver for you from the start or as and when you are ready to progress to the next level of data management.

 

The service options detailed below are:

Understanding and controlling your asset.

  1. Review of internal and outbound data.
  2. Usage report from clients.

Legal framework.

  1. Create a data policy which reflects your objectives and risks
  2. Create a data agreement for vendors and end users

Valuing your assets.

  1. Fees based on existing use.
  2. Putting in place all relevant agreements.

Commercialising your data service.

  1. Organise your data service into packaging and pricing options.
  2. Work with the Content Acquisition teams at major vendors to get the best technical and commercial options.
  3. Assist with technical delivery requirements if needed.
  4. Launch your data service.

Ongoing sales and marketing.

  1. Act as your outsourced sales and account management team.

Additional services.

  1. Data Matrix.
  2. Data Dictionary.
  3. Product sell sheets.

 

Building your data business with Financial Data Control:

Using our vast experience and contacts in the industry we are in a unique position to offer a service which not only ‘consults’ but also works with you to deliver the best results. Below is a list of the services we offer. Within the service but not specifically outlined is, of course, the additional collaboration to ensure that the rest of your team understand exactly what is happening and what the requirements are as a result. Front office and IT need to support a feed which is now revenue generating and will perhaps require additional support. Accounts and legal need to know which agreements are in place and what that means in terms of billing and reporting.

 

Understanding and controlling your asset.

Where is the data going, how is it used and by whom? Is your data used for purposes outside of your core business? – almost certainly. Is it being provided onward outside of the client’s internal systems? Is it contributing to a derived data product such as an index or ETF? Is it used by a vendor to create their own instrument pricing? If that is the case, you may be one of very few providers and should look out for that.

  1. We undertake a review of your existing internal and outbound data and complete a report outlining the assets you have, quality and control issues.
  2. We ask the recipients to provide outline details of the use they make of your data and compile a report of current use and likely risks.

 

Legal framework

Compliance is your friend here – companies are less likely to use unlicensed data as reference data. This process, if handled gently, can also help to position your data as the benchmark data in these instruments – controlled, reliable data is of greater value than unrestricted feeds.

    1. We will work with you to determine your data policy to ensure that you, vendors and clients have a clear understanding of definitions and permitted use. We advise on your options and ensure you have a policy which supports your data provision objectives.
    2. We provide a boiler-plate agreement framework for vendors and end user companies again we collaborate with your legal team to ensure that the licence offers you the protection and flexibility you will require on an ongoing basis.

 

Valuing your assets.

If you continue to provide free of charge data to clients ensure that they, and you, are aware of the value of that service. If you are giving away $10k of data per month to a client it can help future negotiations if that is shown on an invoice somewhere then waived. Of course, that waiver can be linked to core business performance, but it can be unhelpful to blur the lines between data and core business. Further down the line the data team will be the bad guys and you want to keep the rest of your relationships well away from that hot potato.

  1. With an eye on the requirements of part 4 below, we establish for each data user the relevant pricing based on current usage. This allows you to ensure your data provision policy supports your core business. Now you are providing valuable data assets to users in an informed manner and will be able to understand the size of your existing data business.
  2. We will advise you how you can go about putting in place licences or ensuring that existing vendor licences are protecting your data. Where relevant we can act as your outsourced data team and put in place with the clients your terms and conditions.

 

Commercialising your data service.

There are many ways to approach this – the exchange model, the current broker model and many more. Depending on your technical set up you can frame your commercials to match your (and any 3rd party content providers) technical ability to control and restrict access. It’s no good developing the best commercial framework in the world if you can’t actually deliver the product in the correct packages.

  1. We suggest packaging and pricing options for both direct provision and 3rd party vendor provision. We develop these to ensure that your data packages can be delivered and supported by the main data vendors.
  2. We have relationships with the content acquisition teams at all the main vendors and work closely with them to get our clients the best options available.
  3. We work with you to choose the best technical delivery options.
  4. Launch your data service. We ensure that your data is given the best launch campaign by vendors and in industry press.

Ongoing sales and marketing.

Direct sales and ongoing sales campaigns with vendor sales and account management teams is crucial to ensure that your data product generates sales and maintains ongoing client relationships.

  1. We can undertake the sales process for you as an outsourced solution or assist with initial sales and leave the ongoing account management to your in-house team.

 

Additional tools.

There are other tools which have proven to be useful in the development and ongoing management of a data business. Using our existing templates, we can deliver these to you for a fraction of the cost of building your own.

  1. Data Matrix. A matrix showing your data products and services in a simple high-level view which can be combined with your pricing structure to create marketing literature and for internal use.
  2. Data Dictionary. A detailed list of instruments with product details, instrument codes from the leading data vendors and your own internal codes together with additional information from packaging and pricing rules.
  3. Product sheets aimed to support your own and vendor sales teams in demonstrating the underlying product value. Detailed sheets showing only the information needed by sales teams and clients to understand the product value and the best data source for their requirements.

 

 

For more details or to request a meeting use the contact us page or email hello@financialdatacontrol.com. We look forward to working with you to develop your data business.