Data Management Services
Market Fundamentals are changing at fast pace due to increasing speed of innovation and new business models disrupting the market, growth of the global services industry, increasing speed of technology adoption and the increasing importance of the “high attention economy” e.g. the value provided is measured by number of users, views, clicks, “thumbs up/down” etc. This has led to forecasts from the likes of IDC and many others that the digital universe will reach 40 zettabytes by 2020, increasing 50-fold since 2010. However, with growth in data and the opportunity to drive growth from better insight, comes greater challenges in managing and protecting data.
Regulatory requirements such as new credit models (e.g. IFRS 9) require reporting of new data attributes and improved data quality with issues reported in delivery due to a lack of data governance including master data management and poor data quality leading to multiple adjustments and reconciliation issues.
Mergers and Acquisitions throw up even more challenges due to the likely variances in technology infrastructure and data sources, requiring well thought out data strategies and data management policies and processes in order to manage the integration and drive business users and services benefit from the additional data and enhanced information available.
We offer a range of services to unlock the value of your data and help drive sustainable data management solutions.
As organisations increase their reliance on information, they need to take good care of it, regularly monitoring its health (Data Quality) and ensuring you are gathering the best information possible.
A common misconception about Data Governance is that technology alone can be used to solve this problem. Technology is only a small component with most of the heavy lifting in delivering a quality Data Governance framework, being organisational change management – making sure you have the right process and strategies aligned to deal with the significant challenge of information gathering.
This Change Management involves setting up a Governance Committee to provide oversight and leadership, then disseminating control to appropriate Data Stewards who can make appropriate decisions.
A great Data Governance framework will define accountabilities in a manner that introduces checks and balances between business and technology teams, as well as between those who create/collect information, those who manage it, those who use it, and those who introduce standards and compliance requirements.
We help clients by evaluating the maturity of their data governance framework as well as designing and deploying data governance operating models that are fit for your organisation’s purpose and business model. We also assist in Data Quality improvement via profiling, baselining and root cause analysis and remediation.
Master Data is common data about customers, products, suppliers, materials, accounts etc, that is stored and replicated across IT systems. Master Data Management is the management of that common data across organisations IT systems.
A key business challenge as we become more digitally focused and heavily IT reliant is the consistent use of information across IT platforms.
Common MDM challenges we encounter are as follows:
We help clients design and deploy Master Data Management solutions to address this by “mastering” the information in one place, then propagating that throughout the various source systems that use that data in a number of architectural styles from consolidated through to centralised models that fit your needs.
We also help clients with data integration & migration solutions aligned to new or existing solution development such as Data Warehouse, PB&F or Advanced Analytics across multiple technologies in a controlled environment including real time, near real time and batch processed.