|Cloud Data Management|
Cloud Data Management
Driving Best Data Practices for Cloud Migration
Across all industries, firms are embracing cloud technologies to advance their digital transformation and business strategies. Yet there is a gap in understanding and applying the optimal data management capabilities required for successfully migrating and operating in the cloud.
Introducing the Cloud Data Management Capability Workgroup
EDM Council is pleased to launch the Cloud Data Management Capability (CDMC) workgroup to address the challenges and define best practices.
The CDMC workgroup is managed by the EDM Council and co-chaired by Morgan Stanley and Refinitiv, with participation from the world’s top Cloud Service Providers (CSPs), technology firms and over 20 leading financial industry firms.
Challenges of Cloud Data Migration & Operation
Every cloud implementation faces a variety of data, technology, and planning challenges. This includes a lack of consistent, industry best practices for applying data management capabilities while migrating and operating data, applications, and operations to cloud environments, across multi- and hybrid-cloud. Furthermore, the baseline data management capabilities of Cloud Service Providers (CSPs) do not incorporate financial services standards and consistency.
As a result, financial institutions face additional cost and complexity when adopting cloud technology to ensure the expected data management standards for regulated entities are achieved. Technology service providers including CSPs and SaaS providers, are also challenged in understanding data management priorities to drive seamless cloud implementations for their clients. These complex areas include:
Goals and Objectives of the CDMC
The goal of the Cloud Data Management Capability (CDMC) workgroup is to establish an industry best practice guideline in implementing data management in the era of Cloud Computing.
CDMC workgroup objectives:
Contact us to inquire further about the CDMC workgroup.