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Best practices for managing the explosion of External Data providers

Join this webinar to discover the best practices for discovery, certification, deployment and governance of External Data providers. There are now thousands of external data providers on the market providing rich data on people, businesses, property, ESG and more. Managing this complexity in a large enterprise is increasingly difficult, time consuming and costly. This webinar will discuss best practices you can consider to tackle the challenge while realising business benefits and reducing risks from using External Data.
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Enterprises commonly face these challenges:
  • Discovery: It is difficult for executives to remain on top of the fast growing ecosystem of over 2000 data providers to know what is relevant and best in class.
  • Governance: Data portfolio expansion is blocked by the ongoing responsibility to ensure that all the data you are consuming is compliantly collected, used lawfully, consumed securely and avoids ethical ambiguity, all while remaining commercially viable.
  • Deployment: Busy technology teams are implementing bespoke data integrations to each data provider. These are often independently brittle with their own performance challenges, which increases production system uptime risk as more production systems are dependent on External Data providers.
  • Maintenance: Ensuring solutions remain working continuously into the future is a significant cross functional task to address data drift, data quality fluctuations, version upgrades, data schema changes, system migrations, contract renewals, compliance reviews, and more.
During this webinar we will cover:
  • The External Data Landscape and the explosion in data providers – now in the thousands globally
  • The modern challenges of managing External Data in a large enterprise – what’s different now versus the past
  • The infosecurity and data privacy compliance challenges in working with a large number of new-to-market data providers
  • Applying the CDMC Framework and other common internal data governance practices to External Data
  • How Demyst manages this complexity for large banks and insurers

EDMC Data ROI SIG Update: Addressing Real World Data Value Issues

Data ROI, Value of Data, Data Products, Data Use Cases, Data Monetization, DataCo – These and other vital concepts are increasingly becoming part of organizations’ digital transformation journeys.

The next leg up for many organizations means finance, valuation, sales, and legal functions are fluent in recognizing data’s role in driving business. Where finance and investment professionals land on assigning value to data requires further acceptance and development, but great progress is occurring.

The Data ROI Special Interest Group (SIG) of the EDM Council is leading that drive by bringing together business leaders from across many industries to collaboratively address real world data ROI and data value issues. We are bringing the “dollars and cents” to the data discussion in powerful and exciting ways. The SIGs are for anyone aiming to keep their organizations at the forefront of digital leadership.

This webinar will highlight current and anticipated work of Data ROI SIGs with detailed coverage of our 2023 agenda items as we digest the work recently completed, and forge ahead on all aspects of data value and data ROI. The webinar will discuss current approaches to Data ROI including emerging trends such as the creation of DataCos, wholly-owned subsidiaries with assigned data rights which could potentially be the North Star for the CDO community.

Cloud Data: Do you know if it’s secure or vulnerable?

Gartner predicts that 85% of businesses will embrace a cloud-first principle by 2025. 

Harnessing the power and potential of cloud data for innovation has amazing potential for increasing efficiency, agility, and reducing costs. However, the “innovation attack surface” created by an organization’s developers and data scientists using, moving, and sharing data can be a nightmare for data security teams to protect.

In this webinar, you’ll gain valuable insights into the latest trends and best practices for data security in the cloud. Done right, cloud data security helps prevent data breaches, protect sensitive information, and ensure compliance with data protection regulations.

Fortunately, both the EDM Council’s Cloud Data Management Capabilities (CDMC) framework and Data Security Posture Management (DSPM) technology have emerged to enable businesses to innovate with cloud data safely.

Tune in to hear from our panel of cloud data experts from AWS and Laminar to help you answer:

  • What is the new “Innovation Attack Surface” and how can I reduce its risk?
  • What is DSPM and why is it critical now for data in the cloud?
  • How can DSPM help me adhere to the CDMC capabilities and key controls to protect sensitive data in the cloud?
  • What should I consider when implementing a DSPM strategy?

Informatica’s MDM & Data Governance Summit

The Power of Partnership to Drive Innovation with Bank of America

Please join us for this exciting EDM Council Women Data Professionals Leadership Series Event, hosted by Bank of America. This is an incredible opportunity to hear Bank of America executives Michelle Boston (Managing Director, Data Management Technology) and Nimisha Kurup (Managing Director, CFO Data Management) discuss how the bank uniquely partners technology and business stakeholders on various initiatives to drive innovation and new business processes to delight all of their customers.

During this webinar we will cover:

  • Best practices in assessing new innovative technologies
  • Pragmatic methods to transform data into new or enhanced customer experiences
  • Tips & suggestions on recommended education resources to help prepare yourself for career promotions or growth opportunities

FIMA USA 2023

Standardized, Recognized, Utilized: Accelerating Trust globally with the LEI

Today’s world requires faster and more secure transactions, raising challenges around cost, speed, access, and transparency in identification of organizations and businesses. Response requires global coordination to maximize interoperability across different payment systems, achievable by adopting international data standards, protecting infrastructures against fraud and cybersecurity threats, and finding the right balance between an innovative and operationally resilient ecosystem.

For this level of transparency, it is crucial to set up a framework for secure and effective identification of legal entities based on open access, machine readability, global reach, and sound governance principles. Recent initiatives, at international and U.S. level, confirm the urgent need for transformation and address those challenges:

In December 2022, U.S. Congress passed the Financial Data Transparency Act as part of the 2023 National Defense Authorization Act. At the same time, U.S. Customs and Border Protection initiated an EPOC to form a Global Business Identifier, which identifies high-risk shipments and facilitate legitimate trade. The Global LEI Foundation (GLEIF) introduced 2020 the Validation Agent Framework to enable banks and regulated institutions to leverage their KYC and AML on-boarding procedures, creating opportunities such as supply chain relationships and simplified secure cross-border payments.

During this webinar we covered:

  • GLEIF and LEI today
  • Financial Data Transparency Act
  • Customs and Border Protection
  • LEI in KYC and client on-boarding

Established by the Financial Stability Board in 2014, GLEIF is tasked to support implementation and use of the Legal Entity Identifier (LEI). The foundation is backed and overseen by the Regulatory Oversight Committee, representing public authorities worldwide to drive forward transparency within global financial markets.

The CDO & Data Leaders’ Global Summit

Data Economics: Quantifying the Financial Value of All Things Data

Enlightened CDOs have the opportunity to grow market capitalization (publicly traded companies) or to drive incremental stakeholder alignment (non-public organizations) based on the hidden value of data. Intangibles make up more than 80% of the Enterprise Value of S&P 500 Companies. Traditional definitions of intangibles include goodwill, customer lists and intellectual property BUT DO NOT include data.

Join us to hear how forward-thinking CDOs are using data economics to drive quantifiable financial value for their organizations.

During this webinar, industry experts will cover approaches to quantify the value of different types of data:

  • Data Products including offensive and defensive capabilities
  • Data Initiatives such as data literacy, data quality and data lake
  • Critical Data Elements supporting data governance
  • Reports to support regulatory and analytical use cases
  • People to highlight team members and stewards who are key contributors to the data program

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.