NUS-ISS Learning Day 2018- Start with Data Governance
- 1. Start with Data Governance From Where You Are #ISSLearningDay2018 Nicholas Tan 13 July 2018
- 2. Sound Familiar? • Do we have this data? • Where can I get this data? • What does this data mean? • Why is this data different in different reports? • Where does data in this report come from? • Who has access to this data? … #ISSLearningDay2018
- 3. Anything on the Data Roadmap? • Using data to improve operational efficiency? • Using data to improve customer experience? • Monetising data? • Boosting company valuation with data? … #ISSLearningDay2018
- 4. Data is Changing the World #ISSLearningDay2018 Data in healthcare is being used to predict epidemics, cure diseases, improve quality of life and avoid preventable deathsData in education shows what skills students have already grasped and which subjects need more attention Data in logistics allows shippers and supply-chain operators to make decisions on how to adjust operations on a day-to-day basis Data in AI empowers connected machines and computers to learn, evolve and improve upon their own learning
- 5. Data – uber-Fuel of Business #ISSLearningDay2018 Data Information Knowledge Insight Use Data Analyze Data Manage Data Determining related methods, technologies and organisational structures to conduct business intelligence, data analytics, data science, artificial intelligence and machine learning Determining related strategies, methods, governance, technologies and organisational structures to manage data, content, algorithm and information across the creation to archival/removal lifecycle Determining related use cases, business process integration with contextualised application systems, change management and organisational structures to approach business in a data-driven manner Outcomes
- 6. Low Data-Maturity in Enterprise #ISSLearningDay2018 Unaware BI capabilities are largely spreadsheet- based analyses and personal data extracts Opportunistic Individual business units pursue their own BI and analytics initiatives Standards The organisation is moving to shared services, technology standards, common data models and some performance alignment Enterprise The organisation is performance-oriented with an enterprise metrics framework providing alignment, and CDO and chief analytics officer lead analytics efforts across the organisation Transformative Analytics and BI are used externally with partners and suppliers, with technology platforms that allow for agility and greater use of predictive and prescriptive analytics 5% 21% 34% 31% 9% Maturity Base n = 191. Gartner Research Circle members/external sample1. Excludes “Don’t Know responses. Survey question: Which of these best describes your organisation’s level of data and analytics maturity? PercentageofRespondents Source: Gartner (October 2017)
- 7. Approach to Maturity #ISSLearningDay2018 Are we Doing the right things? Are we Getting the right benefits? Are we Doing them the right way? Are we Getting them done well? DATA Data Governance What to actively manage, to support business objectives Data Management How to actively manage, to support business objectives
- 8. What is Data Governance? #ISSLearningDay2018
- 9. Pragmatic Data Governance Data governance refers to the oversight of: • Quality • Compliance • Security of data used in an enterprise. A sound data governance programme includes: • A governing body • A set of principles • A set of policies and procedures • A plan to execute those procedures • A set of performance metrics to measure the results of good data governance #ISSLearningDay2018
- 11. Quality Dimensions #ISSLearningDay2018 Data Quality Clarity • Availability of clear and shared definition Relevance • Usefulness in the context of business Accuracy • How much of the required data are available Consistency • Compatibility of the same type of data from different sources Accessibility • Where, how, and to whom the data are available Timeliness • Data are available at the time required and they are current
- 12. Data-informed Decisions #ISSLearningDay2018 organise collect summarise analyse synthesise prioritise model validate experience judgment
- 17. An Internet Minute #ISSLearningDay2018 Source: EXCELACOM
- 18. Rapid Growth of Global Data #ISSLearningDay2018 Source: Data Age 2025, IDC, sponsored by Seagate, Apr 2017
- 19. Cost of Bad Data #ISSLearningDay2018
- 20. Cost of Poor Data #ISSLearningDay2018
- 23. THE BUSINESS TIMES Singapore CFOs see data security, privacy as top challenges in corporate reporting: EY poll MON, DEC 04, 2017 – 12:56 PM MANAGING data security and privacy are the top challenges chief financial officers (CFOs) in Singapore say they face in corporate reporting, as developments in data handling stir uncertainty among global and Singapore CFOs alike. Around 61 per cent of CFOs in Singapore surveyed cited the challenges above as significant, against 56 per cent of global respondents, according to a recent survey by financial consultancy Ernst & Young (EY), which detailed the challenges faced by top CFOs in corporate reporting. The global survey of more than 1,000 CFOs also found 63 per cent of Singapore finance chiefs say concerns over security and compliance risks of the cloud are seen as major barriers to technology transformation and the implementation of innovative new technologies, against 49 per cent of global responses. Just over half of Singapore respondents also said that a major barrier to implementing new technologies was the board's view of IT transformation being "too costly and risky". In data governance, nearly all Singapore CFOs stated the top challenge was adjusting their approach to mitigate the impact of new business ventures, acquisitions, products and technology. … #ISSLearningDay2018
- 25. Relevant Legislation & Guidelines Legislation • Banking Act (Cap. 19) • Computer Misuse and Cybersecurity Act (Cap. 50A) • Personal Data Protection Act 2012 • Private Hospitals and Medical Clinics Act (Cap. 248) • Telecommunications Act (Cap. 323) • General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) Guidelines • ABS Cloud Computing Implementation Guide 1.1 • MAS Guidelines on Outsourcing • MAS Technology Risk Management Guidelines #ISSLearningDay2018
- 30. Critical Elements #ISSLearningDay2018 Policies Data policies created as part of governance mandate… approved by executive management Principles Data principles recognised as important to the enterprise… actions taken to accomplish what they state Performance Data quality metrics: clarity, relevance, completeness, accuracy, consistency, accessibility, timeliness, cost… measuring performance drivers o v e r s i g h t mapped measured
- 32. Where Are We? #ISSLearningDay2018 Change Capacity ASSESS Understand what the organisation does with the content and information it produces. The focus is on the impressions and feelings business personnel have as to how well the company uses and manages data to its advantage. Measure the capacity for the organisation to change behaviours required for practicing Data Governance. Secondarily, identify potential resistance points. Determine the capability and / or the need for an organisation to institute collaborative elements into the use of data and content.
- 33. Maturity #ISSLearningDay2018 Source: Tony Fisher, The Data Asset, 2009
- 36. Conclusion #ISSLearningDay2018 By chance • Sponsor • Prioritize • Protect • Remove hurdles • Communicate Leadership • Capability • Structure People • Policies • Procedures Process • Fit for purpose Technology By design