Gartner has suggested 6 possible approaches to measuring the value of data The Currency of Information Part 4 – Measuring the Value of Data Data professionals often talk about the importance of managing data and information as organizational assets, but what does this mean? What is the actual business value of data and information? How can this value be measured? How do we manage data and information as assets? These are some of the questions that I intend to address in this series of articles. In the first article, we talked about the different ways that data and information can be used to cr ..read more

Microsoft MDS – CIOs Should Seek Alternatives Microsoft Master Data Services (MDS) has been bundled within SQL Server software (2008 R2) since 2010 and is being used across a wide array of companies.  MDS enables a SQL Server database to act as a single source of truth within their organizations, with some basic master data persistence, synchronization, quality, and data syndication capabilities.  While not a complete enterprise-class master data management (MDM) solution like those in Gartner’s MDM Magic Quadrant, MDS can be a sufficient solution for reference data and a limited num ..read more

Economist Garrett Hardin warned what happens to assets that aren’t managed Data professionals often talk about the importance of managing data and information as organizational assets, but what does this mean? What is the actual business value of data and information? How can this value be measured? How do we manage data and information as assets? How exactly should data be managed to maximize its value? How Do We Manage Data Assets? Data and information are organizational assets, and as such they need to be managed at an organizational level. Each business unit can’t have its own “truth”; tha ..read more

Many points of alignment exist between the functions of enterprise data management and the discipline of emergency management and disaster planning and recovery. An enterprise data management program is designed to emphasize the importance of managing information as an asset and protecting it from misuse or loss.  Most enterprises and organizations carefully manage other assets (financial, physical, and human) but overlook the value inherent in their data.  Typically, if an organization is cognizant of the data it captures, stores, and uses, it is focused on physically protecting the ..read more

The debate continues between centralized data governance initiatives versus federated or functional business unit approach, and between business-led versus IT-lead data governance programs. Why do so many enterprise data governance initiatives fail?  Data governance has consistently been recognized as a critical enabler of business success – yet it remains a massive challenge for most companies – with some failing outright to drive any meaningful value whatsoever from their data governance programs. A recent survey from Gartner found that only 18% of business-led data governance programs ..read more

Developing people skills is the new frontier of success for the data professional; enabling the promise of data having an impact and transforming the enterprise Introduction The real world of working with data in the enterprise reveals some significant gaps in the toolkit of the data management professional. While the environment is replete with technical competence, tools and programming knowledge, all of these capabilities lend themselves well to human to machine interfaces, i.e. people working with systems. What can be lacking is the set of skills in working with people. Machines don’t have ..read more

Most professionals have a reactive, not a proactive, approach to their careers.  This, and other common misconceptions can derail any professional’s career management efforts.  Readjust now to avoid sabotaging career potential. Clothes are cleaned when they’re dirty, bills are paid each month, doctor visits occur once or twice a year. So, why is it that most people don’t integrate career management into their regular routine? Most individuals have a reactive – not a “proactive” – approach to their careers. Thinking that a career management plan is good only to “fix your career when i ..read more

Organizations can and should assess the business value of its data and information to generate economic benefits. Data professionals often talk about the importance of managing data and information as organizational assets, but what does this mean? What is the actual business value of data and information? How can this value be measured? How do we manage data and information as assets? The first question to ask is: What exactly is an “asset”? According to the Financial Accounting Standards Board,[i] an Asset has three essential characteristics: It can be managed for the benefit of an enterpri ..read more

The power of data and analytics comes from four essential components – generating value and impact for any organization. From collecting data to making it actionable knowledge and seeing the effects on the organization, the path to effective analytics could be challenging, especially if the organization has not yet engaged its data-driven transformation or is not fully equipped to power it correctly. Data is crucial when it comes to business strategy across every sector and is the catalyst for innovation and productivity. Nearly all companies are now investing in Data and Analytics since data ..read more

The many and varied skills needed for successful process management efforts are not “easy.” Including soft skills can reduce the difficulty and sustain effective process improvement. As in life, many skills are needed to be successful in process management and improvement and they seldom come to full force naturally, needing to be discovered, valued, and nurtured. To be successful in process-based management there are many competencies required around IT and data management, statistical and financial analysis, process mining and modeling—the so-called hard skills. However, much of the suc ..read more