Bangalore, India (PRWEB) June 22, 2017
The lack of focus is vividly seen in Chief Data Offices (CDOs) alike, and is now affecting how organizations are pursuing their data enabled goals. Very recently, this reduced focus is manifesting through delay in compliance programs like BCBS, GDPR, and MIFID II along with lack of ownership in disruptive IOT and machine learning programs. This translates to immediate and cumulative reputational and operational impacts to firms.
I asked Tejasvi, how can these challenges be overcome: he says that re-discovering and standardizing data management and governance as services is a major enabler to get past these barriers. By this standardization, as listed using multiple examples in the book, is helping such firms explore their capabilities further, to find efficiency, consistency and scalability in their data operations.
Along with that, the recent drivers such as “managing data as a meaning”, “customer excellence” and “actively managing data risk” is pushing the need for alignment of data quality and metadata management to risk management and corporate governance principles. This is resulting in an increased need for inter-operability between all data and risk functions. And thus, there is a need for operating models that consists of discrete functional modules that collaborate through service calls. While the book illustrates approaches to set up data quality and metadata management as standard services, it also spirals interest in business, and technology leaders, equally, through worldly approaches to formalize data governance, based on firm’s enabling culture.
“As I reached Rancho Cordova, to work with the Chief Data Office of an asset management firm, Robin and I started discussing the approach to coming up with the data governance strategy, over some sushi. I was inspired by the sous chef's ownership of having to sculpt the fish to prepare my sushi plate. Later, I came to know that the restaurant showed best standards in sourcing the catch, cooking rice, cooling it, adding vinegar, and maintaining it at the perfect temperature while arranging the plate. I was rather amused by the communication amongst the head chef, the sous-chef and the rest of the restaurant kitchen staff. This got me thinking on the outcome the firm needs from the data governance strategy to overcome the challenge of having to build trust in data.”
Most organizations are lacking an enabling governance structure while ownership of data office can still be with technology divisions. In the 1800s, horses were trained to pull carriages from London to Farringdon. The business here is responsible for establishing guideposts all along the way to monitor, and guide carts in scenarios of severe weather, and advise them on alternate routes.
Likewise, governance is akin to evaluating, and directing all the aspects of data management: planning and acquiring capabilities, setting up and implementing services.
The total costs are plummeting in maintaining redundant not-fit-for-purpose data and thereby improving its quality. How come we don’t think of a cook you have employed as providing you with a service? The value of this service is just not to satisfy your hunger but also to provide you with rich nutrition, to deliver food on time, and to keep risk of food poisoning at bay. This is how data quality-as-a-service would assist in remediating bad data consistently over the entire landscape, with scalable and efficient operating models, as put forth in the book.
Tejasvi Addagada can be reached at tejasvichand(at)gmail(dot)com or through LinkedIn.
The book is now available for everyone to purchase, in the amazon kindle store "https://goo.gl/wHXN74" or in Dattamza book store.
Tejasvi Addagada is a data management leader with ten years of success in assisting clients, develop and optimize data solutions. Tejasvi has worked with the fortune 50 global banks, by providing a wide range of services including strategy analysis, data governance, service rationalization, digital transformation and process excellence while receiving several accolades for the success achieved.