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Industry Benchmark 2020
Benchmarking the Industry

RESEARCH & benchmarking

2020 Industry Benchmark Report Now Available !

EDM Council Research

In support of our membership, the EDM Council conducts research into a variety of data management topics and evolving trends. Such topics include defining critical data elements (CDE), data implications for analytics, AI and machine learning and evaluation of regulations and their data management impacts.

Global Industry Benchmark

As part of the agenda for data management research, the EDM Council conducts periodic benchmark studies, using DCAM® (Data Management Capability Assessment Model) as the framework for the analysis.

NEW! 2020 Global Data Management Benchmark

A Global Survey with New Industry Insights!

Previous benchmarks focused primarily on the finance industry.  This year, we expanded our reach to include multiple industry sectors, including manufacturing, software, services, consultancies, and others, resulting in over 30% of the 2020 Benchmark survey coming from these sectors. 

Previous benchmarks focused primarily on the finance industry.  This year, we expanded our reach to include multiple industry sectors, including manufacturing, software, services, consultancies, and others, resulting in over 30% of the 2020 Benchmark survey coming from these sectors.  

benchmark report 2020

2020 Study

The 2020 Global Data Management Benchmark survey asked participants to share their thoughts on how their data programs have been progressing and if they are adding true business value to their organizations. How successful have firms been in: 

  • Identifying their data strategies?
  • Building their data management programs?
  • Designing, defining and architecting their data?
  • Collaborating with and leveraging technology?
  • Establishing the right data governance best practices to ensure proper and ethical use of data? 

In comparison to previous years’ surveys, we’ve seen improvement, but we’ve also seen a lowering of some scores, not because capabilities have decreased, but because the scope and breadth of responsibilities have greatly increased. The discipline of data management is evolving – and so with it, are the necessary skills and necessary responsibilities that must be realized to manage it.

2020 Key Findings and Highlights

The biennial Benchmarking study was produced in collaboration with industry leaders Ortecha, Publicis Sapient and Pellustro (the DCAM assessment platform developed by boutique strategy firm Element22). The survey covered 24 of the most essential concepts extracted from the Council’s DCAM framework (see Benchmark Questions below) and incorporated responses from over ~300 respondents. 
 
The analysis found that the discipline of data management is evolving. Data management is now front and center to nearly every organization across every industry. The need to capture, organize, analyze and understand the information we glean from our customers, competitors and the industry at large is critically important to the health and wellbeing of our businesses and our society. The 2020 Benchmark Survey reflects the strategic expansion of the CDO role:

  • Enterprise Accountability: 80% of CDO’s now have Global/Enterprise responsibility 
  • Job Scope: 52% of CDO’s responsibilities now include Data Analytics
  • Reporting Lines: 76% of the Data Management Programs are now reporting to the “C”-Suite 

Benchmark Response Overview...

Establishing Data Management Programs

Establishing the program, Standing up a governance program, and Supporting the Governance Program with formalized Policies and Standards scored the highest in the 2020 Benchmark.

Metrics Capture

For the third survey in a row, metrics capture and use were among the lowest scores. The systemic nature of data management often makes it difficult to identify the true impact of a data management program, given benefits are often realized far from the point where the investment is made.

Financial Sector

In previous surveys, Sell-Side always dominated the scoring. The largest financial institutions demonstrated the greater advances in their data programs. In the 2020 Benchmark Survey, we now see significant improvement in the Asset Servicing and Insurance elements of the market.

Other Industry Sector

In general, Other Industry sectors track to Finance Industry sectors, lagging primarily due to the focus and pressure the global regulatory community imposed on Financial Institutions following the financial crisis a decade ago. But we are seeing continued improvement across all industries as more firms embrace the challenges (and benefits) that a formalized and sustainable data management program can present.

Data Ethics

Data Ethics is a new, but fast-moving challenge for all organizations as Artificial Intelligence and Machine Learning consume large data sets that are sometimes incomplete or represent unknown bias. Building processes to address this challenge is still new.

Process Excellence

Process Excellence in data management is a discipline to continuously revisit processes and outcomes to ensure quality and integrity of the factors of input and the analytics being used. We anticipate this methodology will continue to mature as the breadth and depth of data continues to expand.