Standstill in Data Management? Metrics, Adherence, Meaning, Lineage and Quality offset solid progress on Data Governance

DCAM Data Management Benchmark study finds significant progress in data governance, but major challenges in data lineage, policy adherence, measurement, data quality and data definition remain. While we continue to operationalize data governance and policies, not much progress was made in making data more trustworthy and accessible.

The EDM Council recently conducted the data management benchmarking study for the second time since its inception in 2015. The 2017 study continues to assess where the global financial information industry collectively stands against the requirements for sustainable data management as defined by the Data Management Capability Assessment Model (DCAM).

The results demonstrate that while we continue to operationalize data governance and policies, not much progress was made in making data more trustworthy and accessible. Financial institutions are still mired in tactical tasks such as the mapping of data from physical repositories to applications, or reconciling business glossaries to define the business meanings of data.

The benchmark indicates that progress in establishing mature data management is at a standstill. The average score across all 8 components of the DCAM is 3.22, a minor improvement of 0.09 since 2015 when the benchmark was at 3.13.

Out of the 22 statements, 15 received higher scores than in 2015, 4 decreased in score, 2 remained unchanged, and 1 statement was added since the 2015 survey …

Access full analysis at http://www.element-22.com/standstill-in-data-management-metrics-adherence-meaning-lineage-and-quality-offset-solid-progress-on-data-governance/.

Or analyze and compare the state of data management in the financial industry based on the results from 2015 and 2017 directly in Pellustro at https://benchmark.pellustro.com.

A detailed user guide on how you can navigate the DCAM Data Management Benchmark results in Pellustro can be found in our Pellustro Blog at https://pellustro.com/pellustro-benchmarks/.

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