the great data debate (4) implementing a lean approach to data quality management using x88 pandora
DESCRIPTION
This presentation was from a joint BCS/DAMA event on 20/6/13 discussing different aspects of assessing data quality and the role that data quality dimensions can play. This presentation by James Phare, Data to Value and Mark Hodson, X88 looks at the role that data profiling tools can play in assessing data quality. The video for this presentation is at https://www.youtube.com/watch?v=XbSNw9gqoEoTRANSCRIPT
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.
www.datatovalue.co.uk
Mark Hodson
Director – X88 Software Ltd.
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?