The amount of data you have doubles every 12 to 18 months. Information Asset Management that Drives Business Performance Jeremy Pritchard 10/06/2015

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1 Information Asset Management that Drives Business Performance Jeremy Pritchard 1 The amount of data you have doubles every 12 to 18 months Thomas Redman Data-Driven 1

2 The average amount of inaccurate data in an organisation increased by 30% last year Experian Data Quality Survey 75% of companies waste an average of 14% of revenue due to bad data quality Experian Data Quality Survey 2

3 By 2017, 33% of Fortune 100 organisations will experience an information crisis due to their inability to effectively value, govern, and trust their enterprise information Gartner, February 2014 Data is the raw material Information is data that has been processed in such a way as to be meaningful to the person who receives it. Information 3

4 An asset is an item, thing or entity that has potential or actual value to an organisation ISO Information Asset As with any other asset, information needs to be managed. Asset management is the "coordinated activity of an organisation to realise value from assets" ISO Information Asset Management 4

5 Information Asset Management is critical to trusted, accurate, timely data Enterprises can now use high quality data more effectively to optimise operations and business process execution, reduce costs, grow revenue, and increase competitiveness Information Asset Management that Drives Business Performance Information Asset Management that Drives Business Performance also known as Data Governance 5

6 Data Governance Definitions Data Governance is the exercise of authority and control (planning, monitoring, and enforcement) over the management of data assets. DAMA International Data Governance is a system of decision rights and accountabilities for information-related processes, executed according to agreed-upon models which describe who can take what actions with what information, and when, under what circumstances, using what methods. Data Governance is a quality control discipline for adding new rigor and discipline to the process of managing, using, improving and protecting organisational information. IBM Data Governance Council Data Governance is the formal orchestration of people, processes, and technology to enable an organisation to leverage data as an enterprise asset. MDM Institute Data Governance Institute 13 Data Governance It is a quality control discipline for the orchestration of people, processes, and technology to enable an organisation to manage and improve their information assets People Process Technology 6

7 Data Governance Broad interpretation and scope Data quality Data integration Data modelling Data security & privacy Data lineage Metadata management Stewardship Business rules Data standards Data analytics Work flow management Measure, monitor, trend & report Data entry Data storage 15 Data Governance 3 Operational Components Direction Scope Prioritisation Structure Organisational alignment Policy definition Issue resolution Administrative (Formal Oversight) Roles and responsibilities Authority and accountability Funding Education Communication Ownership Technical (Tools & Data Management) Data integration Data quality Data modelling Metadata management Data lineage Work flow management Security Overlapping Scope & Interdependencies Business (Policy, Process, Standards, Opportunities, Risk) Data standards Business rules Business process Reporting & metrics Stewardship Customer definition Data enrichment Risk & compliance Each are unique and require different focus, solutions, skills, and approaches. However, each are highly interdependent on one another. 7

8 Data Governance may be the last frontier for materially: Reducing costs Optimising operations Growing revenue Mitigating risk Driving compliance in mid-market, enterprise, and global organisations and across all industries 18 Assets Similar assets but managed very differently Financial Assets Centralised ownership, authority, accountability Standard policies and procedures Common chart of accounts Formal audits Regulated Well documented Part of planning process Data Assets Fragmented ownership, little authority or accountability Minimum standards/inefficient or non-existent policies/procedures Few/no common data models or methods Limited/no audits Unregulated/loosely regulated Poorly documented Seldom part of planning process 20 8

9 Executives Not interested It s not critical to success No support Lack of funding 22 Organisation Tactical, IT centric data management activity with a flair for bureaucracy 23 9

10 44% of companies don t have a data governance policy 22% of those companies without a plan in place do not plan to implement a policy 40% of companies indicate that they have no specific data governance budget ZOVY DATA GOVERNANCE SURVEY By 2016, 20 percent of CIOs in regulated industries will lose their jobs for failing to implement the discipline of information governance successfully Through 2016, less then 10% of self service BI initiatives will be governed sufficiently to prevent inconsistencies that adversely affect the business Through 2016, only 33 percent of organisations that initiate an Data Governance program will succeed in demonstrating the value of information governance Gartner 10

11 Executive Sponsorship You need business leadership and commitment Deal with disruption and politics Share your vision Gain support Inspire, challenge Business is navigator Business Case Identify business need and value Align with Strategy of organisation "Tell me again, why are we doing this?" Think big, start small Keep it realistic Deliver benefits early and regularly Adapt (constant improvement) 11

12 People Sponsorship Data Ownership Data Stewardship Give people responsibility AND equip them to succeed Make sure people have time to devote Build a strong partnership between business and IT Avoid committee overload Communication Data governance is all about people, which is why communication is so important Articulate to your organisation Deal with Change Continuous Engagement Marketing and communications program categorise recipients and materials Listen to those who fear change 12

13 Metrics "Are we there yet?" What did we do and what was the result? Have you been successful? What should come next? Management expect to see quantifiable results quickly Business impact and value You can t run a business on visible figures alone 13

14 Start small, think big Management Process Communication Stewards Value People Data Quality Technology Profiling Monitoring Cleansing About Us Our Mission: To provide the best software and services for business intelligence, analytics and information management 50 offices worldwide Allow every stakeholder to make better decisions Superior customer service and market-leading innovation are the two fundamental principles that drive Information Builders and its employees every day. Tens of thousands of customers Tens of millions of users Information Builders is committed to helping customers grow their businesses through the power of information 40 years of expertise Transform data into business value 1,600 dedicated professionals Inject valuable insight throughout your business Gerald D. Cohen President and CEO Information Builders 14

15 Information Builders 3i Platform Transforming Data Into Business Value Intelligence Information Builders 3i Platform Transforming Data Into Business Value 38 15

16 Data Impact Assessment Discovery Interview Key Stakeholders Assessment Identification of key business processes associated with data Understand what business issues may be being experienced Collect data from key sources Results Produce a comprehensive report Outline the findings of the discovery and assessment phases Provide technology and process recommendations Present back the results to facilitate feedback and discussion Perform data profiling to understand the basic nature of the data Apply business rules to the data to understand its compliance 39 Information Asset Management that Drives Business Performance also known as Data Governance 16