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EDM Council welcomes McDonald’s Corporation as its newest member

Behind McDonald’s Corporation Golden Arches is a global community of crew, farmers, suppliers, franchisees, and countless others who make up who we are as a brand. It’s the entire McFamily that makes McDonald’s what it is today and what it’s been for over 65 years.

Across our business, we strive to lift up the communities we’re in. We do it through our purpose, to feed and foster communities. We do it through our growth pillars, which focus on integral areas of our business. We do it through our leadership, with a team that will move our brand forward.

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Oesterreichische Nationalbank joins the EDM Council

Oesterreichische Nationalbank is the central bank of the Republic of Austria and as such an integral part of the European System of Central Banks (ESCB). The OeNB contributes, in the public interest, to monetary and economic policy decision-making in Austria and the euro area. In fulfilling this role, the OeNB is independent and not bound by any instructions. The OeNB adheres to the guiding principles “stability and security.”

Its core business areas are cash management, monetary policy, financial stability, statistics, and payments. An organization committed to diversity and sustainability, the OeNB also promotes the sciences and research, and it supports cultural activities.

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Anomalo joins the EDM Council

Anomalo automatically detects data issues and understands their root causes, before anyone else. Connect Anomalo to your Enterprise Data Warehouse and begin monitoring the tables you care about within minutes.

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EDM Council welcomes First Interstate Bank as its newest member

First Interstate Bank is a community bank headquartered in Billings, Montana. With more than 300 branches across Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming, they’re dedicated to helping these diverse communities reach their greatest potential—answering the needs of residents and businesses with practical financial solutions while supporting communities through business development and philanthropy.

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Eyes on Data: The Elevated Role of Data Management and the CDO

The role of the Chief Data Officer (CDO) or the Chief Data Executive continues to gain relevance and importance in today’s corporate C-Suites across all industries. The EDM Council, the global non-profit professional trade association that focuses on data management best practices, recently published their 2023 Global Data Management Benchmark Report in which the trends of the industry and the growth of the Chief Data Executive were studied.

Read the full article on The Data Administration Newsletter

Waters Technology: Putting a price on your head (of data): The ROI of a CDO

EDM Council In the News: Waters Technology

The chief data officer has become recognized as a key role in a financial firm’s ability to manage its data assets, and reduce costs and risk. So why is it also so notoriously short-lived?

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Read the full article by Max Bowie, featuring EDM Council, the Data ROI project and working group, DCAM, CDMC and more in Waters Technology (subscription required).

Video Interview | The CDO Is Coming Across as an Important Business Function

Click here to watch the interview

John Bottega, President of the EDM Council, speaks with Caroline Carruthers, Chief Executive at Carruthers and Jackson, in a video interview about establishing data management programs across industries, the changing CDO role, data literacy, and trust.

According to the Fifth Global Data Management Benchmark Report, 84% of all respondents said their firms established or are establishing a data management program. Speaking on the importance of such a report for any organization, Bottega says that to be able to survive in a digital world, organizations have to understand their information. Industries are now more cognizant of data and following the best management practices.

In addition, he notes that other verticals are implementing modern data management more strategically due to the opportunities to improve their businesses, offer better products, and understand markets.

Bottega continues, speaking about the expanding Chief Data Officer’s role. He says early CDOs had to explain their role in their organizations. Today, senior data executives are in the C-suite, with more CDOs reporting to the COOs and CEOs of organizations. He adds that the CDO role is increasingly becoming an essential business function.

Sharing his views on data management versus data governance, Bottega says that data governance is an element of data management. Organizations that lead with data governance may not be successful because no one wants to be told what to do. He says that success comes from speaking about the benefits of data management and the opportunities it can deliver, and then explaining that there is a set of policies and rules that must be followed.

Regarding data literacy, Bottega defines it as the awareness of the value of the data asset and its impact on the organization and society as a whole. The lack of general understanding of the importance of data can damage the data supply chain and, in turn, the integrity of information.

Bottega explains that data leaders can gain and deserve trust by developing the maturity to ensure the integrity of data and its proper use. The responsibility includes overall data protection to ensure the information is not compromised or stolen. He adds that data management presents an opportunity to utilize analytics responsibly and without misusing the results.

Highlighting some of the upcoming trends in the data space, Bottega mentions the following:

  • The commercial side of data management will continue to strengthen and grow, enabling companies to be stronger.
  • The importance of ESG and sustainability. Professionals must identify information and ensure it is trusted and actionable to have consistent data standards.
  • Data for good, combating financial crime, human trafficking, etc.

CDO Magazine: Data Literacy Must Come From the Top

John Bottega, President, EDM Council, in conversation with Robert Lutton, Vice President, Sandhill Consultants, sheds light on the concept of data literacy and how organizations should address their data literacy journey.

According to Bottega, data literacy is about understanding the scope and impact of information, and the approach has been changing over the years. “Data was always thought of as a technical issue, but there’s been a recognition that it’s a business asset and to understand its impact, you have to be literate in how it operates, how it’s gathered, how it’s collected, where it’s coming from,” he says. “It has to apply to everybody, and everybody has to have an understanding of what data literacy is because everybody touches data.”

Literacy is for everyone in an organization, he emphasizes, but it used to be limited to technology teams.Today, as businesses become more data literate and savvy, there has been a responsibility shift. Everybody — from the person at the front office to the middle office to the back office and the C-suite — touches data.

“No matter who you are in an organization, you are touching that data asset, you influence what that company is doing and what that purpose of that information is,” Bottega adds. “It is a cultural thing within organizations. It has to be a holistic perspective of the importance of information and it has to come from the top. If the C-suite doesn’t embrace this, it’s just not going to permeate the organization,” he concludes.

Click here to listen to the conversation

AWS Glue successfully assessed for all 14 controls in the EDM Council’s CDMC

AWS Glue has successfully completed an external assessment that confirms that its reference architecture provides comprehensive controls for protecting sensitive data in the cloud. AWS is the first cloud service provider to have completed an internal and external assessment of the CDMC controls framework. A leading data and strategy consulting organization (the firm) assessed the AWS Glue blueprint against the Enterprise Data Management (EDM) Council’s Cloud Data Management Capabilities (CDMC) framework.

Click here to read the full article.

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