the great data debate (4) implementing a lean approach to data quality management using x88 pandora
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The Great Data Debate – Do data quality dimensions have a place in assessing data quality?
DAMA UK/ BCS Data Management Specialist Group – 20th June 2013
Implementing a lean approach to Data Quality Management using X88 Pandora
04
James Phare, Data to Value Ltd
James Phare
Managing Director – Data to Value Ltd.
James.phare@datatovalue.co.uk
www.datatovalue.co.uk
Mark Hodson
Director – X88 Software Ltd.
mark@x88.com
www.x88.com
Implementing a lean approach to Data Quality Management
using X88 Pandora.
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Introduction
Background: - The role. - The company. - The Information Management Strategy & Vision. Motivation for looking at DQ tools: - Infrastructure implemented – where's the insight? - Difficulty knowing scale of DQ problems. - Regulatory, reputational & legal drivers. - Siloed tools & approaches. - Cost & complexity.
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Introduction – cont.
Data Quality Tools market growth – what's all the fuss about? Due diligence process. Common features across tools: - Industrial strength DQ features. - Some tailored for key requirements (AML, CDI etc). - Specialised rather than commodity tools. Principal Concern....?
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Aren't we supposed to be moving responsibility for Data out of the basement?!
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Progression to selecting Pandora
- Extremely intuitive for non technical users. - Performance & Flexibility. - Easy to measure, quantify & analyse results. - Powerful presentation capabilities. - Suited our Lean approach to Information Management.
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
The implementation plan
Focus on financial Master Data sets: – Products (Investment Funds). – Investors. – Counterparties. – Suppliers. – Securities.
Data governance plans
– Pandora 'power users' working closely with data stewards in respective business areas.
Desire for a competency centre in DQ Management.
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
The Pilot project – Product Data
A baptism of fire! - Remodelling & documenting. - Data Migrations & Integration. - Matching, de-duping, Standardising &
Cleansing. - DQ Scorecards & KPIs.
The Challenges: - Triaging root cause issues. - Communicating progress to senior stakeholders. - Managing expectations & 'public relations'. The results? - Huge step change in investor experience – website, reports etc. - Improved decision making. - Reductions in operational, regulatory & reputational risk. - 60% reduction in data maintenance requirement. - Other reductions in cost & complexity.
Simultaneously!
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Tailored presentation of results: Monthly Scorecards with
dimensions Daily Key Performance
Indicators (KPIs)
80%
85%
90%
95%
100%Integrity
Completeness
UniquenessConsistency
Conformity
75%
80%
85%
90%
95%
100%
May June July August
Overall Quality Completeness Consistency
Conformity Uniqueness Integrity
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
May June July August Dept A Dept B Dept C Dept D
Data Quality Scorecard – Product Data May 2013
Commentary: - Data coverage of priority field A increased from 30% to 80%. - Tier 1 incidents down 30% - Data Dependency X now live. - Data Maintenance requirement reduced by 30% over 3 months to date. - 2 additional power users trained in DQ tool. - 2 additional Data Stewards within Product Master Data Set.
Status = Green
May DQ dimensions
Latest dependencies Data Maintenance activity
Monthly DQ dimensions
Aimed at: - Sponsors.
- Decision Makers.
Aimed at: - Data Practitioners.
- Highly dependent stakeholders.
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Wider outcomes
- Significantly changed attitudes towards Data Quality Management. - Creation of a DQ Competency centre through delivery, not drafting business cases. - Human Capital development. - Pandora became viewed as an essential tool for Enterprise Data Quality Management & 'data' aspects of
projects.
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
How can I start? + Product demonstration
Product Demonstration Tips: - No better time to start tackling DQ than now if you possess the right tools. - Start with smaller, high priority issues & progress towards enterprise view. - Think & Act LEAN – Iterations, small batches, well defined components of work... Interested in more? - Download the free tool.... - Data to Value offer a range of Lean IM services....
Data to Value Ltd, 42-44 Bishopsgate, London EC2N 4AH www.datatovalue.co.uk
Questions?
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