Data Management Overview
In a world where there is exponential growth of data and a myriad of platforms with silo data repositories the need for one version of the truth has never been more so. Organisations are grappling to govern their data as well as ensuring quality to enable secure data management and effective business decisions. This will be crucial in achieving revenue and earnings growth in an increasingly competitive and regulated market in the years to come.
Data Management Maturity Assessment
To support with these challenges In-Form Consult (IFC) has developed a maturity model for data management and data quality which measures Organisational Readiness for Data Governance and Data Quality. The model covers the following areas:
People
Effective enterprise data governance requires executive sponsorship as well as a firm commitment from both business and IT staff.
Policies
A data governance program must create and enforce what is considered “acceptable” data through the use of business policies that guide the collection and management of data
Technology
Beyond data quality and data integration functionality, an effective data governance program uses data synchronisation technology, data models, collaboration tools and other components that help create a coherent enterprise view.
Data Management Support
IFC can assist organisations to create data management policies and design process improvements. Our DM support can include the Design and implementation of the Data Management Policy and provision of assistance to meet submissions to industry regulators in relation to data management for example in Finance with the FSA’s Pre-application.
Technology Support
IFC is proficient in the use of a wide range of technology that supports data management. These include data profiling to discover issues in existing data sets, standard repositories to publish data quality rules across an enterprise, performance metric systems to keep data quality in place once established and infrastructures design advice regarding the enforcement of rules at source and maintenance and synchronisation of golden copies of master data.