The Hidden Costs You Might Be Missing
⚠️ Common Pitfalls That Drive Up Costs
- Paying for unused data feeds that no one is actively analyzing.
- Underinvesting in data engineering, leading to inefficiencies and hidden expenses.
- Siloed data storage that creates duplication and unnecessary overhead.
💡 Three Key Steps to a Smarter Data Strategy
Top firms follow a structured approach to optimize data spending:
- Unbundle Data Sources – Instead of relying on a single bulk provider, firms achieve better cost efficiency by sourcing best-in-class feeds tailored to their specific needs for all asset classes.
- Diversify Supplier Relationships – Engaging multiple providers allows firms to compare pricing models, coverage depth, and service responsiveness.
- Negotiate Directly with Exchanges – Firms that negotiate directly with exchanges can secure better terms for data redistribution, clarify usage permissions, and streamline compliance processes—eliminating unnecessary middlemen fees.
👉🏻 Business Impacts of a Better Data Strategy
Managing data costs can help with enhancing operational efficiency and investment decision-making. A streamlined data strategy allows firms to:
- Reduce time wasted on manual retrieval by improving data accessibility.
- Make more informed investment choices by leveraging high-quality data.
- Reduce compliance risks associated with mismanaged or redundant datasets.
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