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Blog > April 2020 > CDO Series: The Data-Informed Organization

CDO Series: The Data-Informed Organization

The DIKW Pyramid is a great reminder for those of us on the journey to become a “Data Informed Organization.” Notice we are carefully saying “data-informed” versus “data-driven” or “data-centric”  – there is an important difference in blindly using the data versus leveraging data (and our brains) as the basis of making an informed decision. 
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At the recent ASG WW-SKO in Fort Lauderdale, Fla., Devang Gheewalla, COO at ASG customer Kotak Mahindra Bank, presented on the ways in which the business side of the organization is driving the need for data. “Data transfers to information, information transfers to knowledge,” said Devang. “Data is the creation of this knowledge. We should be able to ‘trace’ from the end to the origin and the origin to the end. Regulatory attestation is just an offshoot, it is the reason we need [a Data Intelligence solution], but it is not the primary objective.”

 
Devang is thrilled, like many of today’s data leaders around the globe, to find himself with available funding to “get the data house in order” and manage enterprise data as a valuable corporate asset – specifically, with support for tooling and automation. For so many years, data leaders have been passionate about implementing tools and processes to ensure consistent, high-quality data but struggled for funding. Now, the overall requirements and value of automating information management has matured even beyond the “mandate to be explainable.” It’s about full transparency and providing data trust. The “mandate to share” data is just as prevalent as compliance, which is yet another integral benefit of serving up trusted data.
 
Customer Use Cases: Automated Data Lineage for Data Attestation
That brings us to automation. Imagine if you had tooling not just for governing data but for tracing critical data from end to end?  After seven weeks of automating the data inventory and the data lineage for a key data supply chain at Bank of NY Melon, the bank’s Senior VP of Pershing, Al DiGiovanni, and the DI team received yet another privacy request from one of their biggest clients: “Regulators were asking, ‘What data, for data privacy, is going outside the firm that we need to manage and control at the same level that we would do inside?’" In response, the project team ran lineage views around the subjected data and was able to export the graphics and show – down to a field perspective – 1) where the data came from, 2) what manipulations were occurring to the data as it moved through the systems, and 3) that they had a handle on their (the clients’) data. 
 
“All in all, the data is secure and we know how it is being used,” said Al. “We were able to show where the data was being transferred outside of our system and the client was very satisfied… It was a big win in the first phase of our implementation, and it went flawlessly. If we were going to give this to the SME for statement of processing it was going to take anywhere from 8-12 days to garner the information, put it into an acceptable format and be able to talk to it. In the end, I didn't even have to get the SME involved – it was the product itself that spoke to the management of the data and that there were sufficient processes and controls.”
 
Attesting to the data is not just a compliance issue. Mergers and acquisitions are another area where business decisions are being impacted by not having this level of transparency for on-demand data requests. ASG customers don’t want to acquire a company that is in data debt. It is one of the first issues to arise when corporate statistics don’t add up or if the corporate data they are requesting is continuously unattainable. Sound, trusted data is considered as “cash” during an acquisition.
 
“An immature data environment will reveal inefficient reporting, manifested by too many people in the organization involved in extracting, manipulating and pushing data together from disparate data sources for the purposes of reporting. There will be duplication of activity, duplicating of data sets and a lack of standardized and common reporting and methodology and tooling.” – Chief Data Officer Handbook, Caroline Currothers and Peter Jackson
 
The data is out there. CDOs and data leaders must automate and apply structure to managing the information to accelerate their knowledge in becoming a data-informed organization. As our customers have shown already, companies will reap benefits far and beyond an A+ on their next privacy audit.
 
To learn how ASG supports the journey to becoming a data-informed organization, visit the ASG Data Intelligence product page. For more information on ASG’s approach to data intelligence, check out our DI maturity model.

Posted: 4/7/2020 9:00:00 AM by Sue Laine