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EDM Council and Fiùtur Partner to Drive Data Innovation in Sustainability

EDM Council, a cross-industry trade association to advance data management and analytics best practices, is collaborating with Fiùtur, a leading digital trust network for the energy transition economy, to launch a strategic initiative to deliver open, trusted standards to drive information transparency, facilitate capital allocation and reduce risk in the rapidly evolving transition economy.  

The current data landscape for energy transition assets suffers from fragmentation, incompleteness, and incompatibility. To bridge this gap, the EDM Council’s Data Innovation Lab and Fiùtur are joining forces to establish an industry working group to develop a foundational set of sustainability identifiers. This collaboration will leverage open-source technology and ontology-based knowledge graphs to ensure seamless interoperability at the asset level, initially focusing on key use cases such as the hydrogen supply chain but ultimately designed to holistically encompass the energy transition landscape.

The new standards and governance framework will enable participants in the transition economy to standardize outcomes and processes to increase the value of producing assets’ claims, while allowing capital providers to make informed decisions on transition investments. 

“Trillions of dollars of finance are needed to respond to global demand for sustainable products,” says Joe Madden, CEO of Fiùtur. “At the core of efficient transition capital allocations are new risk evaluation and governance rules for producing-asset level data and verifiable transition attributes. Fiùtur is proud to partner with EDM Council to address this challenge and build strong foundations for the required Trust Infrastructure.”

The platform supporting EDM Council’s Data Innovation Lab Program has successfully driven prior open industry knowledge graph standards efforts in industries including finance (FIBO), pharmaceuticals (IDMP), automotive (AUTO) and digital manufacturing (NIST). Fiùtur’s platform and ecosystem enable real-world outcomes to flow through to the financial markets through partnerships with innovative technology providers such as Nammu21. 

“Accurate, complete and connected data is critical to driving energy transition and advancing sustainability,” said John Bottega, President, EDM Council. “The EDM Council is excited to partner with Fiùtur to develop a framework of standard identifiers that will allow stakeholders to have a clear, consistent understanding of the value of assets to invest in and support the transition.”

EDM Council and Fiùtur are calling on their respective communities to actively participate. For further information please contact info@edmcouncil.org at EDM Council and info@fiuturx.com at Fiùtur.

About EDM Council

EDM Council is the global association created to elevate the practice of data management and advanced 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 350 member organizations globally from the Americas, EMEA, and Asia, and more than 25,000 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 Fiùtur

Fiùtur has developed an open architecture to enable the programmatic encoding of governance and commercial terms across transparent, digitally enforced and automated measurement, reporting and verification (dMRV) protocols to deliver provable, real-world outcomes to global markets. The Fiùtur ecosystem incorporates financial institutions and other capital providers, proprietary and public data sources, insurers, technical firms, certification bodies, industry players, project developers, environmental-commodity registries and markets, corporates, and a myriad of others. To find out more about Fiùtur, please visit www.fiuturx.com.

EDM Council Launches Data Excellence Program

New York, February 14, 2024 — The EDM Council has introduced the Data Excellence Program in response to the growing need for standardized measurement and recognition of data management excellence at the organizational level. EDM Council is the global trade association providing best practices, standards and education to advance data management and advanced analytics. This innovative initiative aims to acknowledge organizations that are dedicated to continuous improvement and excellence in data management, based on globally recognized best practices.

Despite the critical importance of data as a strategic asset for organizations, many are challenged to manage data effectively, efficiently and consistently. The Data Excellence Program supports organizations in developing a culture that demonstrates their commitment to data management as a strategic ongoing program, utilizing a best practice framework for measuring capability. Achieving various criteria earns industry recognition.

“The EDM Council is thrilled to launch the Data Excellence Program with our members, fostering a community of organizations dedicated to unlocking the full value of their data assets,” said John Bottega, President, EDM Council. “As organizations embark on this journey, they not only elevate their data management capabilities but also position themselves as leaders in data excellence.”

Key elements of the Data Excellence Program include:

  • Data Management Team Training and Certification based on the Data Management Capability Assessment Model (DCAM) framework
  • Independent Assessments and Capability Improvement Plans conducted with EDM Council Certified Partners
  • Recognition for Achievement
  • Global Data Management Benchmark Repository

Founding members of the Data Excellence Program include both participating companies and Certified Partners, who are authorized by the EDM Council to support members in achieving the program criteria:

“We are honored to be one of the founders of the Data Excellence Program, the first-of-its-kind, global initiative acknowledging those organizations who are making an ongoing commitment to achieving best practices across their data functions,” said Ben Clinch, Head of Information Architecture, BT Group. “We are already seeing results, such as a team culture dedicated to delivering the highest quality and greatest value for our data assets.”

“One of Freddie Mac’s ongoing priorities is to be at the forefront of data excellence in our business practices,” said Aravind Jagannathan, Vice President and Single-Family Chief Data Officer for Freddie Mac. “As a founding member of the EDM Council’s Data Excellence Program, we look forward to meaningfully contributing to this area globally, and continuing to cultivate world-class data excellence in our Freddie Mac teams and throughout the industry.”

For more information about the Data Excellence Program, please visit the EDM Council website.

EDM Council’s Inaugural Cloud Data Management Benchmark Report Measures Progress of Cloud Data Risk Controls Adoption Across Industries

New York, June 28, 2023 – EDM Council, the cross-industry trade association for data management, has released its Global Cloud Data Management Benchmark Report. This is the first cross-industry benchmark study specifically measuring the state of data management and data risk controls in support of trusted cloud adoption. The resulting report indicates that the majority of participating organizations are well down the path of cloud implementation, but that development is needed to ensure data is managed and protected appropriately.   

Key findings include:

  • 92% of respondents indicate they are engaged in cloud implementation, but most cloud data management capabilities are in the “developmental” stage
  • 84% of respondents have not implemented “ethical access, use, and outcome” policies and procedures when executing their agenda in the cloud
  • 98% of respondents agreed it would be helpful to have a trusted framework like EDM Council’s CDMC™ (Cloud Data Management Capabilities) framework for the management of data and its lifecycle in the cloud

The Cloud Data Management Benchmark Report is structured using the EDM Council’s CDMC framework, which was developed to define best practices, data risk controls, and automations for migrating and managing data in the cloud. CDMC was created by 300+ professionals from 100+ organizations cross-industry, including the world’s largest cloud providers. AWS, Google Cloud, and Microsoft all recently announced their implementation of the CDMC 14 Key Controls and Automations in their cloud offerings.

“We are pleased to publish this first global benchmark study of cloud data management,” said John Bottega, President, EDM Council. “This cloud-focused analysis complements the EDM Council’s body of work to benchmark the state of data management for both business and data leaders, and understand how trusted data functions and capabilities are evolving in our data-driven, increasingly complex world.”

“Cloud adoption requires comprehensive data management capabilities, including data risk controls and automation, to ensure that data is protected and controlled to meet regulatory requirements across jurisdictions,” said Diana Ascher, EDM Council’s Head of Research. “The report outlines where greater attention should be directed to ensure data assets are central to planning and executing trusted cloud strategies.”

The benchmark report provides metrics, analysis, and insights based on the 6 core components and 14 capabilities and key controls of CDMC, covering:

  • Governance & Accountability
  • Cataloging & Classification
  • Accessibility & Usage
  • Protection & Privacy
  • Data Lifecycle
  • Data & Technical Architecture 

Organizations may use the report to compare their cloud data management capabilities to industry standards. For those who have implemented the CDMC framework, the report provides an opportunity to compare scores with other organizations.

Links to free EDM Council downloads:

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 350 organizations from the Americas, EMEA, and Asia, and more than 25,000 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, visit edmcouncil.org. 

Media Contact

Greg Tarmin, Paragon, greg@paragonpr.com, +1 917 868 7791

EDM Council Designates Google Cloud as a Certified Cloud Solution

Google Cloud clients migrating sensitive data to the cloud can do so with greater confidence now that Google Cloud has been certified against EDMC’s CDMC control framework

New York, NY – June 26, 2023 – EDM Council, the leading global non-profit trade association for advocating data management and analytics, has today announced that Google Cloud’s new solution architecture, which combines Google Cloud’s BigQuery and Dataplex, has been independently assessed by KPMG and certified by EDM Council as a CDMC (Cloud Data Management Capabilities) Certified Cloud Solution.

“This is an exciting milestone for Google Cloud and the CDMC framework,” said John Bottega, President of EDM Council. “Google Cloud is advancing cloud adoption across all industries. Now as a CDMC Certified Cloud Solution, their clients can have the added certainty that Google Cloud’s architecture has the key controls and accepted best practices in place to protect their data in the cloud.”

“Cloud migration is an important step that many enterprises are still in the process of taking,” added Mark Tomlinson, Principal Architect at Google Cloud who led the project. “While companies want to accelerate their cloud adoption, there are data risks that some may find challenging. Both the new solution architecture and the CDMC Certification should provide peace of mind and support CDOs in this critical step for their businesses.”

According to the Google Cloud Brand Pulse Survey, carried out in the fourth quarter of 2022, over 40% of organizations are increasing their use of cloud-based services and products due to the current macroeconomic climate. However, as enterprises accelerate their adoption, their CDOs face a new challenge: how can they effectively secure, manage and govern rapidly expanding volumes of their most sensitive data in an unfamiliar environment? This new architecture incorporating the CDMC 14 key controls and automations can provide new and existing Google Cloud clients with the confidence to migrate their sensitive data to the cloud.

The CDMC framework, developed and published by the EDM Council’s CDMC Working Group, provides a comprehensive set of data management capabilities, standards and best practices for cloud implementations. Contributors to the framework included some of the largest enterprises in regulated industries, all major cloud service providers plus technology service organizations and major advisory firms. CDMC certification of cloud solutions is attained through a comprehensive review by a CDMC Authorized Partner. The CDMC 14 Key Controls and Automations for protecting sensitive data in the Cloud was published by the Working Group as a first deliverable on July 7, 2021 and is available as a free license to all industries via the EDM Council website.

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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 over 350 organizations from the Americas, EMEA and Asia, and over 25,000 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, visit https://edmcouncil.org/.

BT Group accelerates cloud transformation, passing key industry assessment

Company successfully completes EDM Council’s Cloud Data Management Capabilities (CDMC) assessment, eliminating 70% of duplicated effort in data management through consolidated approach 

London, UK – June 15, 2023 – BT Group’s Digital Unit is accelerating the Group’s cloud transformation with the successful completion of an assessment conducted by ProjectiveGroup, covering all key aspects of managing data for increased value and reduced risk. The assessment was based on the EDM Council’s Cloud Data Management Capabilities (CDMC) Framework, a comprehensive set of industry standard guidelines, standards and best practices for organisations to move their data into cloud, multi-cloud and hybrid-cloud ecosystems.

Passing the assessment gives BT Group a robust framework for moving forward at pace with its cloud and data ambition; it reduces duplication of effort in setting up data classification and management structures by over 70%, saving thousands of hours of effort. As such it gives clear routes not only to the deployment of key strategic applications and data services, but also the pace with which analytics and AI can be deployed responsibly to drive outcomes and build trust for the Group and its customers.

The assessment is the EDM Council’s first in the sector, and saw collaboration from more than 50 experts from 11 disciplines (including data management, architecture, engineering, legal, privacy, security, compliance, networks and more) from across the Group. This assessment demonstrates the Group’s commitment to responsible technology principles and ensuring that all use of data and applications of AI have robust ethical foundations.

As the global trade association for the advancement of data management and analytics, EDM Council developed the CDMC framework through its CDMC Working Group. Participants include hundreds of experts from leading cross-industry organisations, consultancies and technology companies, including the major global cloud providers.

“As we look to drive customer and commercial outcomes built on the potential of our data resources, ensuring we have a robust foundation from which to build is vital. The CDMC framework underpins our data ambition, providing us with a robust, safe and ethical grounding from which to drive value and build trust, for the Group and for customers. It also gives us a yardstick from which to build and measure improvements to ensure we can continue to lead the field. We have been a strong supporter and participant in the development of the CDMC framework since its earliest days,” says Ben Clinch, Head of Information Architecture, BT Group.

“BT Group’s Cloud Data Management Capabilities assessment marks a major milestone in its commitment to cloud leadership,” said John Bottega, President of EDM Council. “Having its cloud platform independently assessed will give the Group’s partners even greater confidence in accelerating their own adoption of cloud and hybrid-cloud strategies with the assurance that their data is controlled and protected.”

“It was my absolute pleasure to complete the CDMC maturity assessment with BT Group. Working with a group of like-minded, innovative, and forward-thinking data professionals who have embraced CDMC and its common language meant that there was a clear understanding of how the framework can help mitigate risk, ensure return on investment and ultimately accelerate BT Group’s journey to the cloud,” said Scott Beange, Head of Data Management of ProjectiveGroup, a CDMC Authorised Partner. “It only convinces us more that in every industry, any organisation working in the cloud needs to adopt CDMC. It has become the standard because it is the best approach for reducing data risk in the cloud.”

The CDMC framework is available as a free download for all industries at https://edmcouncil.org/frameworks/cdmc/ to assess their organisation’s cloud readiness and get a scored analysis of their existing cloud capabilities against the CDMC framework. CDMC certification of cloud solutions is attained with a CDMC Authorised Partner.

 

DataVision London – June 27th

BT Group will be hosting EDM Council’s DataVision 2023 event on June 27th at its 1 Braham Street location. The half-day event, free for members, prospective members, guests and all data management professionals, will include networking opportunities plus panel discussions around cloud adoption and the CDMC framework, GenAI and data ethics, data validation and more. Sarwar Khan, BT’s Head of Digital Sustainability, will deliver an ESG Keynote: Connect For Good In A Sustainable Way. Register here.

About BT Group

BT Group is the UK’s leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services. We also provide managed telecommunications, security and network and IT infrastructure services to customers across 180 countries.  BT Group consists of three customer-facing units: Consumer serves individuals and families in the UK; Business* covers companies and public services in the UK and internationally; Openreach is an independently governed, wholly owned subsidiary wholesaling fixed access infrastructure services to its customers – over 650 communication providers across the UK.  British Telecommunications plc is a wholly owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.  For more information, visit www.bt.com/about

*Business was formed on 1 January 2023 from the combination of the former Enterprise and Global units.  It commenced reporting as a single unit from 1 April 2023, with pro forma reporting information to be produced ahead of BT Group’s Q1 FY24 results. 

About ProjectiveGroup

ProjectiveGroup is an international end-to-end partner for organisations who want to excel in an ever-changing environment. As a dedicated change agent for the financial industry, they provide seamless consulting services leveraging business, technology, and delivery expertise to drive envisaged benefits and results. Their propositions are focused along the industry themes of data, transformation, payments, talent, and risk and compliance, serving their clients from offices in Europe’s leading financial centres, including Brussels, Amsterdam, London, Frankfurt, and Paris. www.projectivegroup.com

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 over 350 organizations from the Americas, EMEA and Asia, and over 25,000 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, visit https://edmcouncil.org/.

YDC announces General Availability of YDC Data Economics Center

YDC just announced the General Availability of YDC Data Economics Center, with YDC Data Products allowing users to tie the value of their data initiatives to industry frameworks such as EDM Council’s Data Management Capability Assessment Model (DCAM) and Cloud Data Management Capabilities (CDMC).

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Snowflake Achieves First Cloud Data Management Capabilities (CDMC) Assessment

Snowflake (NYSE: SNOW), the Data Cloud company, today announced that it has successfully completed an assessment conducted by KPMG on the 14 Key Cloud Controls for protecting sensitive data, a component of the EDM Council’s Cloud Data Management Capabilities (CDMC) Framework that ensures a comprehensive set of industry standard guidelines for Financial Services organizations and other industries as they move their data into the Cloud. Snowflake’s Financial Services Data Cloud is the first cloud platform to be independently assessed against the recently published CDMC Key Controls.

The EDM Council is the leading global non-profit trade association for advocating data management and analytics. The Council’s CDMC Workgroup is the largest open industry collaborative work group operating since May 2020 focused on developing best practices and controls for Cloud Data Management. The CDMC Workgroup includes over 100 companies and 300 professionals comprising leading financial industry companies, major cloud service providers, key technology companies and leading advisory firms. This first CDMC release targets the highly-regulated financial markets and has been developed to support all industries requiring the management of sensitive data in the Cloud.

“Snowflake’s customers, some of whom are among the world’s largest financial services organizations, are each trying to come up with their own guidelines for how to move their data to the cloud,” said Matt Glickman, VP and Global Head of Financial Services at Snowflake. “As part of the EDM Council, Snowflake helped create the CDMC framework to provide the industry with a standard way to manage their data lifecycle in the cloud. We’re very excited to be the first cloud platform to adopt this new standard to help further accelerate the industry’s move to the cloud.”

“The CDMC Workgroup collaboratively developed these 14 Key Controls as the first deliverable of the broader CDMC framework to be published at the end of September to help companies globally across various industries incorporate essential data management practices into cloud and hybrid-cloud implementations,” said John Bottega, President of the EDM Council. “We are very appreciative of all of the time and hard work from all of the CDMC contributors to deliver this vital industry framework.

Leading financial services organizations, like London Stock Exchange Group (LSEG), will be able to use the CDMC Key Controls as an objective set of guidelines and controls to thoughtfully move their data to the Cloud, with automation confirming all the correct controls are in place. The controls aim to help solve the industry-wide burden of managing data security and compliance when moving to the cloud. All the artifacts produced as part of the Snowflake Financial Services Data Cloud assessment have been published for general industry-wide consumption.

The CDMC 14 Key Controls for protecting sensitive data in the Cloud was published by the Workgroup as a first deliverable on July 7, 2021 and is available as a free license to all industries via the EDM Council website.

Learn More: 

About Snowflake 

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 212 of the 2021 Fortune 500 as of July 31, 2021, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com