DAMA Ireland - Data Trust event 9th June 2016

DAMA Ireland

Networking Event #3

Thursday 9th June 2016Bank Of Ireland - 1 Grand Canal Square

Do we need a Data Trust / Data Quality Mark?

DAMA Ireland (A reminder of who we are)

Data Management Association (DAMA) International is a non-profit, vendor-independent, global association of technical and business people dedicated to advancing the concepts and practices of information and data management.

DAMA Ireland is the local Irish “chapter in formation" of DAMA International, established to enable data professionals in Ireland to network and discuss non-technical questions of data and information resource management.

DAMA Ireland will provide a regular forum for local discussion among users who want to manage data as a corporate resource, regardless of hardware or software environment.

http://www.dama.org/

3

Data is useful. High-quality, well-understood, auditable data is priceless.

– Ted Friedman, Gartner

We all have the right to expect the data we need to do our job and to trust that it’s fit for the purpose for which

we need it.– Ken O’Connor

Kenoconnordata.com 2016

As food consumers, we’re provided with facts about the food we buy – it’s the law

Ingredients – the basic facts

Allergy Information –Can mean life or death to some

Nutrition InformationEnables us to make “informed choices” about the food we buy

We don’t all use the food facts given to us –Those who choose/need to control their diet are in a position to do so

4Kenoconnordata.com 2016

We know where food such as beef comes from…

Traceability –Hugely important to restore confidence in beef following the Mad Cow disease (BSE) crisis

I first presented this slide in Nov 2012…Feb 2013 - “Horsemeat in burgers scandal” broke.Retailers couldn’t claim ”We just sell the burgers”They needed to understand their supply chain to identify and resolve the root cause of the problem… which they did.


https://kenoconnordata.com/2013/01/16/the-link-between-horse-meat-in-beef-burgers-and-data-quality-management/

We know that our food has not been tampered with, since it left its “trusted source”

Tamperproof lids and seals –

Introduced following Tylenol poisonings killed 7 people in Chicago in 1982


What do we know about the data we depend on?

• Data consumers are seldom provided with facts about the data feeding their critical business processes

• Most data consumers assume the data input to their business processes is “right”, or “OK”.

• They often assume it is the job of the IT function to ensure the data is “right”.

• Almost all data consumers are also data providers – unaware of their role in the data supply chain


Your data fuels your internal business functions…You would like it to be easy to find, trust and access.

YourData

Sales

Marketing

Reporting

Operations

Distribution

HRRisk

Finance Etc

This is the desired ‘target state’

for organisations


Source "Data Simplexity" Author: Michael Brackett - 2011

People with New Data Check First

People Find Trust and

Access Data

Existing Data Resource

Readily Shared

New Data Integrated

and Documented

New Data Created When

Necessary

People Come Looking for Data

Michael Brackett calls the desired target state in organisations world-wide: “The Comparate Data Cycle”


Marketing

Data

Sales Data

Risk

Data

Finance

Data

Etc

Data

HR

Data

DistributionDataReporting

Data

Operations

Data

Too often, business functions develop systems in isolation, with their own unique data stores…


Data is shared “point to point” between business functions, which is difficult to maintain…

Marketing

Data

Sales Data

Risk

Data

Finance

Data

HR

Data

DistributionDataReporting

Data

Operations

Data

This is the likely‘current state’


The current state… bad, and getting worse!

Source "Data Simplexity" Author: Michael Brackett - 2011

People Come With Own

Data

Can’t Find Don’t TrustCan’t Access

Data

People Uncertain

About the Data

Data Not Integrated

Or Documented

People Create their own Data

People Come Looking for Data

Michael Brackett also has a name for the current state which he calls: “The Disparate Data Cycle”


Demand for data is growing at an increasing pace, for regulatory and business purposes

Demand for data – opportunity or minefield?

BASEL III

Solvency II

MiFid

AML TX

Monitoring

New System

Migration

EMIR

IFRS 9

BCBS 239

New Reporting

Requirement

PSD II

AnaCredit

Central Credit

Register

Etc.

Data

AnalyticsDigital

Transformation


Organisations with better #Datamanagement will thrive – fast fish will devour slow fish


To satisfy the growing demand for data you must build trust in your data and replace chaos with order…

To succeed, you must take control of your information supply chainYour first step is to fully understand, and document, your data resource:1. The data you require 2. The data you have (data names, definitions etc.) 3. Where it’s stored, where it comes from, where it goes, what happens to it4. Who “owns” it5. What it should contain (business rules)6. What it does contain (data quality metrics)7. The mapping and transformations that transform chaotic data to ordered data

11

2 3 45

5

6

4

7

Brackett calls this critical information: “Data Resource Data”, documented in a “Data Resource Guide”. He believes the more usual term “Metadata” should not be used. “The terms meta-data and metadata have been used, misused, and abused to the point that the real meaning is unclear” 15


Tom Redman (aka The data doc) summarises perfectly


Source: Tom Redman http://www.dataversity.net/dama-slides-what-does-manage-data-assets-really-mean/

http://www.dataversity.net/dama-slides-what-does-manage-data-assets-really-mean/

Redman then explains what is required

1

2

3


Source: Tom Redman http://www.dataversity.net/dama-slides-what-does-manage-data-assets-really-mean/

http://www.dataversity.net/dama-slides-what-does-manage-data-assets-really-mean/

Cultural change is required… We all have a “duty of care” for the data we consume and provide

Everyone in your organisation must understand:

• Why the data is ultimately required

• The importance of their role & their dependence on others

• Where they get their data from and who they provide it to

• What the data should contain and what it does contain

• If the data is not right – they should raise a data defect ! 18


Learn from the Chilean mine rescue…Trace a single critical data element end to end through your data supply chain –This will highlight the challenges you must overcome

Perform a capability assessment• How do we assign data ownership?• How do we agree data definitions?• How do we specify business rules?• How do we measure data quality?• How do we govern the above?


Ken.. I really like the idea of the Data Quality Mark. I feel business data assets are far more imperfect than businesses realise.

Dave Sammon: Director of MSc in Data Business: UCC & IMI

Using Tom Red man's simple Friday Afternoon Measurement we have witnessed DQ scores as low as 8% and in some cases 0%. Much to the disbelief of the business.

In a study we conducted in 2013. 83% of businesses rarely, if ever, calculated the cost of their bad data. Assuming it is better than it is perhaps.

With data assets locked in the IT assets the unknown quality of the data is very much the reality.


https://ie.linkedin.com/in/davesammon

https://hbr.org/2015/10/can-your-data-be-trusted

21

Do we need a Data Trust / Data Quality Mark?

DAMA Ireland

Panel DiscussionWith

Ken O’Connor – Data Management Consultant

Ronan Brennan (CTO Moneymate)

Data & Analytics

DAMA Ireland - Data Trust event 9th June 2016