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Data at the Speed of Business with Data Mastering and Governance
The document discusses the importance of data mastering and governance in businesses, highlighting challenges such as identifying data sources and improving trust in data accuracy. It outlines how organizations like Valmont and Fragomen leverage data to enhance productivity, compliance, and customer experience while addressing silos and manual governance issues. Key imperatives for data leaders include fostering responsible data use and ensuring the availability of trustworthy data to drive business outcomes.
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Data at the Speed of Business with Data Mastering and Governance
- 1. March 2023 Data atthe Speed of Business with Data Mastering and Governance
- 2. Where data comesto Welcome!
- 3. 3 © Informatica.Proprietary and Confidential. Today’s Speakers Ryan Glasunow Jason Beard Jay Hawkinson Taryn Stebbins Sr. Director, Data Governance and Privacy Sr. Director, Data Strategy and Governance Director, Data Analytics and Insights Director of Data Strategy and Master Data
- 4. 4 © Informatica.Proprietary and Confidential. About Valmont Valmont is a global manufacturer specializing in Agriculture and Infrastructure markets • With 85 manufacturing sites in 22 countries, the company has grown via merger & acquisition since 1946 • As part of our digital transformation, Data and Insights is foundational and key • With over 20 years in Data & Analytics and Digital Transformation for global manufacturers, Jay is leading the team building the technical and business information foundation for Valmont’s Data Driven Organization
- 5. 5 © Informatica.Proprietary and Confidential. About Fragomen Fragomen is the world’s leading single-focus provider of immigration services and support • Our firm is composed of law practices and immigration consultancies that work together to support our clients across all regions globally • At Fragomen, we leverage our collective immigration experience to offer clients targeted and trusted solutions that help them achieve their local, regional and global business goals • Fragomen has 60 locations strategically positioned in key commercial centers throughout each region worldwide — this approach fuels our understanding of local culture and case processing nuances, allowing us to deliver optimal results
- 6. 6 © Informatica.Proprietary and Confidential. Top Business Imperatives for Data Leaders 30%higher Employee productivity rates Improving time- to-market by 16% 28%better Managing operational risk Reducing operational costs by 15% GROW THE BUSINESS AND INCREASE AGILITY IMPROVE CUSTOMER EXPERIENCE MANAGE RISK AND COMPLIANCE REDUCE OPERATIONAL COSTS 1 High performing data delivery organizations compared to low-performing organizations. Data Trust Survey, IDC, December 2021, n=500
- 7. 7 © Informatica.Proprietary and Confidential. Asking the right questions ? • How do we understand data? • How is data defined? • How are business processes defined and associated to what data? Define Govern • How do I resolve and relate multiple instances of same the person, place, thing? Master • How do I find data anomalies? • How do I standardize data from multiple sources? Measure • How is data classified? • How are the data security and privacy controls associated to data? Catalog • How do we fulfill data compliance requirements? • How are data risk levels assessed? Classify • How do I know what certified data is available and trustworthy? • How might someone request access?
- 8. 8 © Informatica.Proprietary and Confidential. What are your business imperatives? 8 © Informatica. Proprietary and Confidential.
- 9. 9 © Informatica.Proprietary and Confidential. Challenges to Governing Master Data Identifying Unknown Data Sources & Types • Too much time spent on data discovery and preparation • Too many silos with unclassified and uncategorized data • Last mile data delivery challenges 1 Enabling Responsible Data Use • Only 33% of consumers believe that personal data is being used responsibly3 • Evolving regulatory policies require ongoing investments and effort to control access • Manual governance does not scale easily across data lakes 3 Improving Low Trust in Data Accuracy 2 • Only 27% of data practitioners completely trust their data1 • “Trust in data degrades as it moves further away from its origin”2 • Rigid, manual documentation- based approaches do not scale 1. Source: Data Culture Survey, IDC December 2020, N=455, Data Trust Survey, IDC December 2021 N=500 2. Source: “In Data We Trust. Or Do We?”, Stewart Bond, IDC Directions Conference, March 2022 3. McKinsey, “A customer-centric approach to marketing in a privacy-first world”, May 2021
- 10. 10 © Informatica.Proprietary and Confidential. Challenges to Governing Master Data Identifying Unknown Data Sources & Types • Too much time spent on data discovery and preparation • Too many silos with unclassified and uncategorized data • Last mile data delivery challenges 1 Enabling Responsible Data Use • Only 33% of consumers believe that personal data is being used responsibly3 • Evolving regulatory policies require ongoing investments and effort to control access • Manual governance does not scale easily across data lakes 3 Improving Low Trust in Data Accuracy 2 • Only 27% of data practitioners completely trust their data1 • “Trust in data degrades as it moves further away from its origin”2 • Rigid, manual documentation- based approaches do not scale 1. Source: Data Culture Survey, IDC December 2020, N=455, Data Trust Survey, IDC December 2021 N=500 2. Source: “In Data We Trust. Or Do We?”, Stewart Bond, IDC Directions Conference, March 2022 3. McKinsey, “A customer-centric approach to marketing in a privacy-first world”, May 2021
- 11. 11 © Informatica.Proprietary and Confidential. Challenge 1: Identifying data sources and types 11 © Informatica. Proprietary and Confidential.
- 12. 12 © Informatica.Proprietary and Confidential. Challenges to Governing Master Data Identifying Unknown Data Sources & Types • Too much time spent on data discovery and preparation • Too many silos with unclassified and uncategorized data • Last mile data delivery challenges 1 Enabling Responsible Data Use • Only 33% of consumers believe that personal data is being used responsibly3 • Evolving regulatory policies require ongoing investments and effort to control access • Manual governance does not scale easily across data lakes 3 Improving Low Trust in Data Accuracy 2 • Only 27% of data practitioners completely trust their data1 • “Trust in data degrades as it moves further away from its origin”2 • Rigid, manual documentation- based approaches do not scale 1. Source: Data Culture Survey, IDC December 2020, N=455, Data Trust Survey, IDC December 2021 N=500 2. Source: “In Data We Trust. Or Do We?”, Stewart Bond, IDC Directions Conference, March 2022 3. McKinsey, “A customer-centric approach to marketing in a privacy-first world”, May 2021
- 13. 13 © Informatica.Proprietary and Confidential. Challenge 2: Improving low trust in data accuracy 13 © Informatica. Proprietary and Confidential.
- 14. 14 © Informatica.Proprietary and Confidential. Challenges to Governing Master Data Identifying Unknown Data Sources & Types • Too much time spent on data discovery and preparation • Too many silos with unclassified and uncategorized data • Last mile data delivery challenges 1 Enabling Responsible Data Use • Only 33% of consumers believe that personal data is being used responsibly3 • Evolving regulatory policies require ongoing investments and effort to control access • Manual governance does not scale easily across data lakes 3 Improving Low Trust in Data Accuracy 2 • Only 27% of data practitioners completely trust their data1 • “Trust in data degrades as it moves further away from its origin”2 • Rigid, manual documentation- based approaches do not scale 1. Source: Data Culture Survey, IDC December 2020, N=455, Data Trust Survey, IDC December 2021 N=500 2. Source: “In Data We Trust. Or Do We?”, Stewart Bond, IDC Directions Conference, March 2022 3. McKinsey, “A customer-centric approach to marketing in a privacy-first world”, May 2021
- 15. 15 © Informatica.Proprietary and Confidential. Challenge 3: Enabling responsible data use 15 © Informatica. Proprietary and Confidential.
- 16. 16 © Informatica.Proprietary and Confidential. How do you find critical data, ensure it is accurate, and deliver it to data consumers who need it most? 16 © Informatica. Proprietary and Confidential.
- 17. © Informatica. Proprietaryand Confidential. 17 Holistic Data Management Components Data Profiling & Analysis Data Catalog Data Access Data Enrichment Data Integration Data Governance Master Data Management Data Quality Profile & Analyze data Sources & Formats Controlling Access & Data Privacy in Analytics Postal Validation & 3rd Party Enrichment Business Context, Catalog & Metadata Assimilating & Integrating Disparate Data Sources Data Usability & Accessibility to Data Citizens Data Standardization, Quality, Monitoring & Dashboards Data Stewardship & Single Version of Truth
- 18. 18 © Informatica.Proprietary and Confidential. Multiple starting points for driving value… Common Business Understanding of Business Terms & Policies Data Lineage & Provenance Data Discovery & Sensitivity Classification Data Quality Monitoring & Improvement Data Sharing Governance of Cloud DW/ Data Lakes Catalog of Catalogs Data Observability Policy Compliance Data Mastering & Quality Governance of AI & Analytics — Explainability © Informatica. Proprietary and Confidential. 18
- 19. 19 © Informatica.Proprietary and Confidential. …and Achieving Your Business Outcomes Trusted Business Reporting (ESG, etc.) Operational Efficiencies (Faster Data Discovery/Onboarding) Safer Migration of Sensitive Data to the Cloud Improved Customer Experience Programs Analytic Insights (Deliver Better Products & Services) Lower Risk Exposure During Data Sharing © Informatica. Proprietary and Confidential. 19
- 20. 20 © Informatica.Proprietary and Confidential. How are you evolving your data strategy… What’s next? 20 © Informatica. Proprietary and Confidential.
- 21. 21 © Informatica.Proprietary and Confidential. Empower Data-Driven Business Transformation 21 MANAGE Responsible Data Use 75% Faster data discovery and preparation while mitigating risk SHARE Trusted Data 50,000+ health care professionals enabled with trusted data ENABLE Analytics and AI 95% Reduction in manual effort to analyze data
- 22. 22 © Informatica.Proprietary and Confidential. Informatica World 2023 Learn more, network with peers, accelerate your data strategy! Learn More: InformaticaWorld.com • The cloud data management conference of the year! • Featuring the brightest minds in cloud, data and AI • Connect, network and learn latest cloud data management strategies and best practices • Realize the transformative power of how Informatica brings your data to life
- 23. 23 © Informatica.Proprietary and Confidential. Download the CDO Survey CDO Insights 2023: How to Empower Data-Led Business Resiliency © Informatica. Proprietary and Confidential. 23 Discover why: v 68% of data leaders have identified data management as a top priority v 32% cite an incomplete view of their data estate as a main barrier to success v 55% report managing 1,000+ sources of data v 91% predict an increase in data sources v 52% say improved data governance and associated processes is a critical concern
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- 25. Where data comesto Where will you start?