Fast, real-time, low latency, ultra-low latency, sub second – I could go on. The point is that there is so much emphasis on the speed of information these days. Just last week we participated in The Trading Show NYC (@TheTradingShow), which is a one day event for those in the quant and automated trading space. We met a variety of people from different vantage points in the industry, but they all remarked that speed is a factor in how they conduct business. They concluded that the faster the data comes in, the faster they could make decisions.
This is a true – to a point. You can get information quickly, but that is only going to get you so far if the information is not reliable. You need to ensure your data is accurate. In our 24-hour news cycle world, “news” is propelled across the internet and into the hands of anyone with a smartphone in the blink of an eye. Who provided this information? Is this information fact based or is it someone’s opinion? Depending on where you look it’s hard to know.
As a curator of company and financial news, we like to think of ourselves as experts in data reliability and accuracy. We carefully select the content sources we carry. We thoroughly vet an active list of industry experts on Twitter. We assemble our collection based on quality, not quantity.
As a professional yourself, you probably have go-to sources you rely on when you are looking for accurate information. Hopefully your company supplies you with the information resources you need. If not, demand it! You know the sources that you can trust.
Once you’re armed with accurate and reliable sources of information, you can let technology support your need for speed. The processing and delivery of information is microseconds away with the right technology. Ensure you are getting the fastest delivery available for the information you seek. Ask about latency, run comparisons, look for colocation opportunities. Just make sure you are getting faster, accurate data for your fast-paced decision making.