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What Business People Need to Know About Data Management and Data Governance

What Business People Need to Know About Data Management and Data Governance. Micheline Casey Principal CDO, LLC @ michelinecasey michelinecasey1@gmail.com www.dataTrending.wordpress.com. Best-in-Class or Laggard?.

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What Business People Need to Know About Data Management and Data Governance

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  1. What Business People Need to Know About Data Management and Data Governance • Micheline Casey • Principal • CDO, LLC • @michelinecasey • michelinecasey1@gmail.com • www.dataTrending.wordpress.com

  2. Best-in-Class or Laggard? • Limits ability to achieve organizational potential and to aggressively pursue new market opportunities • Limits ability to take advantage of newly emerging business opportunities • Limits success in bringing high-value products and services to customers, and in retaining and winning desired business • Limits ability to drive information-based insights • Limits ability to be proactive Best-in-class companies take 12 days on average to integrate new data sources into their analytical systems; industry average companies take 60 days; and, laggards 143 days Source: Aberdeen Group: Data Management for BI: Fueling the analytical engine with high-octane information

  3. Data Management Framework • Holistic approach to understand the information needs of the enterprise & its stakeholders • Consistency for planning & process development • 10 major functional areas, including governance • Aligns data with business strategy (above) and technology (below) • Takes into account the data lifecycle – creation through destruction • Internationally recognized through Data Management Association International (DAMA)

  4. Key Supporting Data Management Components to Big Data • Data Governance – Exercise of authority and controls over the management of data assets. Policies, processes, standards, definitions, metrics. • Councils, stewards, trustees roles and responsibilities defined • Data Architecture - Defines data requirements, guides integration and control of data assets, aligns data investments with business strategy. • Part of an overall enterprise architecture framework • Enterprise data models, definitions, and taxonomies • Enterprise data delivery • Master Data Management – Control over master data values to enable consistent, contextual use across systems of the most accurate, timely and relevant version of truth about essential business entities. • Meta Data Management – Descriptive tags about data, concepts, and connections between data and concepts. • Business, technical, process, and stewardship • Data Security – Planning, development, and execution of security policies and procedures to provide proper authentication, authorization, access, and auditing of data and information assets.

  5. Framework for Data-Driven Thinking

  6. Key Questions to Drive Business Value from Data • What business opportunity/problem are we trying to solve? • What questions do we need to answer to solve the problem? • What data do we need to answer the questions? • What data do we have? • How can data help differentiate us in the market? • What data is IP for us? Revenue generating for us? • How do we integrate the right data together? • How do we manage the quality of the data? • What data does this relate to (master data)? • Do we have all the data about this (person, event, thing, etc.)? • What are the permissible purposes of the data? (compliance, regulatory environment) • Who is allowed to access the data? Use this data?

  7. DM Spider Map

  8. Data Management Maturity in a Social Business Partial Source: Social Business by Design, Dion Hinchcliffe

  9. Data Governance Council Roles and Responsibilities DGC DGP Task Forces & Tiger Teams Lines-of-Business

  10. Data Governance Operational View

  11. Success Measures • Information is trusted • Speed to market for new products or services is improved • Time spent looking for data is reduced • Time-to-answer ratio is inversed • Questions are answerable (e.g. What is the value of a customer?) • Stratification and insight of customer is achieved • Customer intimacy achieved • Integration and development time slashed Company is data-driven

  12. What Business People Need to Know About Data Management and Data Governance • Micheline Casey • Principal • CDO, LLC • @michelinecasey • michelinecasey1@gmail.com • www.dataTrending.wordpress.com

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