Data 2020 Summit
Although we have entered the new Digital Economy where data is the most important enterprise asset, we have better understanding about the cost and value of our office inventories and furniture
than the data we possess. We see data and everything around it as a cost, because we don't understand how the measure the value of it.
With these words, last years chairman Patrick Eckemo opened the 2016 edition of Data 2020 Summit. It is an interesting context to think about.
Information is an asset, no questions about it. But it is still immature. We
need to start measuring information value and quality. And this is where
Data Governance and Data Quality play an important role. Last year's
conclusion was that data governance is a must, its implementation is
hard in practice. Not many organisations have it. To succeed, there is
a need common vision, solid strategy and plan, sponsors and ownership.
Furthermore, there is a need of common structure, mandate, accountable
dedicated person, policies and guidelines. Everything depends on it IM,
Master Data Management, Enterprise Architecture.
Master Data Management is a still a great issue. From the discussions last
year, it was obvious that traditional approaches taken from implementing
data management programs do not succeed as planned. One of the
main reason MDM programs fail to demonstrate the business value, is
that often IT managers struggle to get the business stakeholders involved.
Absence of sponsor, data governance and data quality programs,
distances MDM from the holy grail of one source of truth and usually
ends in disappointment as the promise bar is so high.
Enterprise Architecture is important for managing the new GDPR. But it is
under a lot of pressure. As digital proliferation accelerates and technology
rapidly develops, EA is now far more valuable to organizations and more
difficult than ever before. EA approaches need to adapt to a digital
economy, and bridge the gap between business strategy and execution.
Technology is developing so fast and so do the buzz words and hypes.
To add in context, AI, IOT, AR, Big Data, Cloud, Data Science, have taken
the IM discussions by storm. It all seems so confusing. The truth is that
not all technology and trends fit every organisation. We cannot chase
the technology trends hoping they will put us in front of our competition.
We need to address the fundamentals first: information management,
master data management, data governance, data quality and enterprise
architecture. If we really want to increase the ROI from data, measure
the value of information, make data as an enterprise asset, address the
current GDPR, and prepare for the data driven future, this is a prerequisite.
Join us. And bring your business partners with you. They need to know
what you are facing.