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Eyes on Data: Importance of Data Governance When Implementing AI/ML

Artificial Intelligence (AI), Machine Learning (ML) and Large Language Models (LLM) have turned the world on its head. From finance to manufacturing to pharmaceuticals to retail, every industry is jumping on the AI/ML bandwagon. And for good reason. AI/ML has the ability to improve efficiency, drive automation, and shorten delivery cycles. AI/ML applications can absorb and report on massive amounts of data that would take the average analyst days if not weeks or months to sort through and analyze. Overall, AI/ML will help the decision-makers make better decisions in shorter periods of time.

Read the full article on The Data Administration Newsletter

TDAN – Eyes on Data: The Path Ahead for Cloud Data Management

In today’s information-driven society, there is perhaps nothing more ubiquitous and nothing that is multiplying at a more rapid pace than data. According to Forbes, more than 90% of the data that is available worldwide today was created within the last two years alone. And as the complex data landscape continues to expand, so must the data management capabilities and tools that support it.

In our new column Eyes on Data with The EDM Council, which will be published during the second month of each quarter, we hope to shine some light on the most pressing data management issues that are impacting business across all industries, while offering our views on how companies can approach data-related challenges and opportunities. We’ll touch upon some of the advanced tools that are available, including AI, Machine Learning and advanced analytics, while examining some of the pertinent trends around which data is playing a growing role, such as ESG  (environmental, social and governance) and the usage of hybrid cloud environments.

Click here to read the full article on TDAN.com

EDM Council and National Institute of Standards and Technology (NIST) Collaborate

EDM Council and National Institute of Standards and Technology (NIST) Collaborate to Launch Ontology Development Infrastructure for the Manufacturing Industry

 

NEW YORK, Oct. 27, 2022 /PRNewswire/ — EDM Council, a cross-industry trade association focused on data management and analytics best practices, has teamed up with the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) to launch a collaborative program to standardize knowledge engineering and ontology development, including infrastructure, processes and guidelines to support data interoperability and analytics in manufacturing. The program will also support the Industrial Ontology Foundry (IOF), which will help in developing the processes and product modelling for the resulting data models.

The current data and analytics model that manufacturing firms use to develop products and implement manufacturing processes is very complex but lacks a universal set of data guidelines, which has led to cross-organizational production issues, delays, and heightened levels of risk. This project will leverage the infrastructure and processes of the EDM Council’s Open Knowledge Graph Innovation Lab to address these challenges, which are being used to build out other industry ontologies, including ontologies for the finance and pharmaceutical industries.

The new infrastructure will enable the IOF community, whose members include manufacturing firms, software vendors, academics and research institutes, to:

  • Formalize data definitions to improve data quality for the entire product life cycle, including product design & engineering, production planning, supply chain management, maintenance and service, and decommission
  • Create greater interoperability across industry and enterprise data
  • Improve issues related to data silos while helping to resolve lingering terminology conflicts
  • Automate data analyses which will improve productivity across the manufacturing supply chain
  • Enhance the development of Artificial Intelligence (AI) and Machine Learning (ML) capabilities

“This type of ontology supports the uses of the large amount of data this industry creates to bring production and supply chain efficiency, quality, and resiliency to the next level. By teaming up with the EDM Council, we will be able to deliver a platform for producing new, high-quality data standards that create strategic value for manufacturing professionals,” said Serm Kulvatunyou, project lead for the Biopharmaceutical Manufacturing and Supply Chain project at NIST and an IOF Board Member.

NIST promotes U.S. innovation and industrial competitiveness by advancing measurement science, standards and technology in ways that enhance economic security and improve quality of life.

“As processes and advancements in the manufacturing supply chain are becoming more sophisticated, the amount of data being created has amplified exponentially,” said John Bottega, President of the EDM Council. “By creating a consistent data quality ontology for the manufacturing sector in collaboration with NIST and IOF, we will collectively deliver the necessary capabilities that companies can implement in order to effectively manage their business.”

The infrastructure that supports the manufacturing ontology that will be developed in this project comes off of the success of the EDM Council’s Financial Industry Business Ontology (FIBO).

About EDM Council

EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 300 member organizations globally from the Americas, EMEA, and Asia, and more than 20,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, explore edmcouncil.org and follow us on LinkedIn and  Twitter.

About the Industry Ontology Foundry (IOF)

The Industry Ontology Foundry‘s mission is to create a set of core and open reference ontologies that spans the entire domain of digital manufacturing. The IOF works with Government, Industry, Academic and Standards organizations to advance data interoperability in their respective fields. The organization provides principles and best practices by which quality ontologies can be developed, while providing an organizational framework and governance processes that ensure conformance to principles and best practices for development, sharing, maintenance, evolution, and documentation of IOF ontologies.

EDM Council Board of Directors Addition – Linda Avery, Verizon Chief Data & Analytics Officer

EDM Council Expands its Board of Directors with Addition of Verizon Chief Data & Analytics Officer Linda Avery

 

New York, NY; July 28, 2022 – EDM Council, a cross-industry trade association for data management and analytics, has named Linda Avery, Chief Data and Analytics Officer at Verizon, to its Board of Directors. As the first to hold the CDAO position at Verizon, Linda has played a central role in driving more than $2B in value across the Company since her arrival in August 2019.

 

With more than 20 years of experience, Avery is one of the most revered and accomplished data leaders in the industry. In April 2019, she was awarded CDO of the Year by the CDO Club and was named to CDO Magazine’s list of Global Data Power Women in both 2021 and 2022.

 

Prior to joining Verizon, Avery was Chief Data Officer, SVP & Head of Data & Statistics for the Federal Reserve Bank of New York. Between July 2014 and August 2019, she was the architect of the organization’s data strategy and developed capabilities in areas that included AI and analytics, data visualization, and data quality. Prior to joining the Fed, she spent 20 years at Goldman Sachs, where she was a Managing Director in Technology.

 

“The EDM Council has been a beacon in creating frameworks supporting standards and best practices around data management, including their recently developed Cloud Data Management Capabilities Framework. They have been instrumental in creating forums to bring data professionals together. Their work continues to grow in importance, as data-driven decisioning has become increasingly core to business strategy and operations,” Avery said. “I’m very excited to join the Board to help drive this important work forward.”

 

“We are thrilled to have Linda join our Board of Directors. Linda has been a trailblazer at every stop in her career, having been a Chief Data Officer at two important organizations. We are looking forward to her ideas and contributions in taking the EDM Council to new heights,” said Mike Meriton, Co-founder and COO of the EDM Council.

 

About EDM Council

EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 300 member organizations globally from the Americas, EMEA, and Asia, and more than 20,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, explore edmcouncil.org and follow us on LinkedIn and Twitter.