A Data Lake can be a highly valuable asset to any enterprise, and there is a myriad of technology solutions available for leveraging the processes to feed, maintain and retrieve information from the Lake. But all this technology is, if not worthless, significantly less valuable, if the environment is not well governed and managed. This […]
Posts Tagged ‘data governance’
The Importance of Data Lineage in Data Governance
Data lineage is the capture of the flow of data from the source through intermediary systems and data transformations to a final destination or consumer. Having good data lineage provides a means to confirm that data used by consumers is from trusted, authoritative sources with adequate controls in place to govern the hand-offs between systems. […]
Establishing Authoritative Sources in Data Governance
Establishing an authoritative sources capability confirms the enterprise approved source for data ownership, including both origination and distribution. Before a financial institution can agree on authorized sources of data, there must first be a common understanding of the type of data being sourced. Data will need to be classified in an agreed-upon enterprise data model. […]
Responsibility of Data Architecture in Data Governance
The data architecture capability will supply the components and standards necessary to implement other capabilities coherently and enable them to work together. A primary responsibility of data architecture is to define and have an accepted enterprise-wide set of models, standards, glossaries and hierarchies which allow a standard description of data across business lines, products and […]
Defining Organizational Roles in a Data Governance Road Map
The data governance road map should define a data governance operating model and organization structure. As part of the structure, an executive steering committee should be established with representation from all key areas of the financial institution. The steering committee is responsible for providing overall direction and vision for the company’s data strategy and governance […]
Information Governance – Essential Ingredient for Business Value
In my last blog, you may recall that we were discussing the value and the need for Standards and Templates for ensuring a consistent and efficient use of the Data Lake, both in its population (supplying) and in its retrieval (consuming) of information. To achieve this level of consistency and efficiency, as well as reliability, […]
Getting Started With Data Governance
Data governance doesn’t start in a vacuum; it requires plenty of advance thinking, preparation, and strategy. As such, successful data governance must begin with a foundation built on data principles and a well-thought-out data strategy. Data principles are core guidelines and beliefs that form the backbone of the data strategy and core data governance capabilities. […]
Data Quality Improvement is Key to Successful Data Governance
The goal of any data quality program is to improve quality of data at the source. Once a financial institution’s data lineage capabilities are in place, a key starting point for data quality initiatives is the confirmation of critical data attributes for each major business line and functional area. The data quality program should define […]
Evaluating the Maturity of Key Supply Chain Components
To successfully address supply chain trends, it is critical that the foundational aspects of your existing supply chain are operating effectively. We recommend evaluating the maturity of the following key supply chain components before attempting to use the latest technologies. SUPPLY CHAIN DATA GOVERNANCE (BLOCKCHAIN, ADVANCED ANALYTICS) Data integrity is the key to supporting transformational […]
Establish Formal Data Contracts Between Data Owners and Consumers
A final capability that is emerging is the establishment of formal data contracts between data owners and data consumers and integrates each of the key capabilities described in our previous blogs. A data contract is an agreement that specifies data owner accountability regarding data delivery acceptability levels, as well as the consequences and expectations for […]
Driving Better Decisions with Data Governance
The business capabilities presented in our new guide demonstrates how forward-thinking financial services companies are leveraging data governance to create value for the enterprise. Accurate and timely information continues to be a key driver of enabling better decision making. Capabilities such as data principles and strategy, data architecture, organizational roles, authoritative sources, data lineage, data […]
Data Lake Participants – Roles and Responsibilities
As you may recall, in my last blog I introduced the analogy of the Aggregator to describe utilizing a Data Lake as a Consolidator of information, and I mentioned the three key roles in this model: the Supplier, the Aggregator and the Consumer. In this post I will provide a little more detail on the […]