Data ROI

Driving Best Data Practices for Data ROI

The importance and relevancy of data management has grown significantly across all industry. Yet in many cases, teams still struggle with defining the true ROI of data and data programs. The EDM Council is pleased to launch the Data ROI workgroup to address the challenges and define best practices. The objective of this workgroup is to work collaboratively with industry leaders and SMEs to develop a standard best practice framework for data management ROI.

New! Data ROI Report on Data as a National Treasure

For the fourth publication in the Data ROI series, the EDM Council Data ROI Working Group has published Data as a National Treasure: A framework and case studies to value national data across countries and functional sectors. The paper provides an overall framework and approach for treating data as a national treasure, similar to people and natural resources, and how to benchmark the value of data based on key metrics such as gross domestic product, annual budget, and constituent count.

This document contains a number of case studies across countries, functional sectors, and data products. The paper is intended as a guide to policymakers and data management professionals looking to leverage data to achieve mission, raise funds, and comply with regulations.

Download Data as a National Treasure

Download the Data ROI Report on Data as a National Treasure

Data ROI Report on DataCo

EDM Council’s publication of DataCo: Independent Data Organizations Maximizing the Value of Data marks the third report produced by the Data ROI Working Group. This downloadable report explores the current landscape of DataCos (internal Data Companies) and investigates the business objectives that the establishment of these independent organizations can achieve for their parent company. 

The EDM Council DataCo study identifies six key considerations for establishing a DataCo to achieve business objectives and minimize the challenge of data risk.

Download the Data ROI Report on DataCo

Download the Data ROI Report on DataCo

2023 Data ROI Report on Data as an Asset

EDM Council announces the publication of Measure, Manage, Create Value – Practical Steps for Achieving High Data ROI by Treating Data as an Asset, the second report produced by the . This downloadable report demonstrates how to isolate the overall value of data in an organization from its total unattributed intangible value. This includes variations for the special situations of data product companies and banks, and illustrates how to compute a data ROI (return on investment).

The Three-Step Framework includes:

  • Measure: Assign a specific value to your organization’s data.
  • Manage: Understand how to treat data with similar care as physical assets.
  • Create value: Establish a practice to compute the return on investment (ROI) of data initiatives.
Download Data ROI Report on Data as an Asset

Download the Data ROI Report on Data as an Asset

2023 Data Office ROI Report: Playbook v1.1

EDM Council announces the publication of Data Office ROI Playbook v1.1. This downloadable report discusses the data challenges and recommended data management best practices for developing a return on investment (ROI) for the data office. It includes approaches and use cases that Chief Data Officers can utilize to implement ROI for the data office.

The playbook is the culmination of intense work by more than 125 cross-industry practitioners and interviews with 15 CDOs around the world over the course of 18 months. It consists of:

  • 7 steps, 32 plays and 4 actions that any organization can implement
  • Mappings of data ROI to DCAM (Data Management Capability Assessment Model), CDMC (Cloud Data Management Capabilities), and ESG (Environment, Social and Governance) frameworks from the EDM Council
  • 23 business cases and 24 case studies
Download Data Office ROI Report: Playbook v1.1

Download the Data Office ROI Report: Playbook v1.1

Data ROI Work Group Approach

To address this objective, this workgroup will examine the following Data ROI Use Cases:

  1. The Data ROI of the Data Office and the CDO / Data Programs
    •  Can a best practice be designed to demonstrate the success of a data management initiative within the organization?
    • Can a framework be developed to bring transparency to the benefits of a proposed data project or software/hardware acquisition (e.g.: data lakes; MDM; Golden Copy; etc.)?
  2. Data as an Asset with ROI
    • Is there a standard way in which intrinsic value of data can be represented (data on the balance sheet)?

For each of these use cases, the group will create a framework of best practices and guiding principles, and a resource of examples and success stories, that can be used cross-industry, to assist in defining the ROI associated with data and data management initiatives.

The Data ROI workgroup is managed by the EDM Council and co-chaired by Scotiabank and Wellington Consulting, with participation from the financial institutions, technology firms and data providers.

Your engagement in Data ROI

If you are interested in engaging with other Council participants and staying in touch with the work products of Data ROI, please join the Data ROI Interest Group!

Contact us to inquire further about the Data ROI workgroup.

Join the Data ROI Interest Group

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