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Wednesday, July 9, 2014

3:45 p.m. - 4:30 p.m.
Track: DATA GOVERNANCE View Track

BEST PRACTICES: DATA GOVERNANCE FOR ENTERPRISE REFERENCE DATA

Lowell W. Fryman, Sr. Principal, ASPEN K-2 SOLUTIONS
Dan Meers, President, Co-Founder and Senior Principal, K2-SOLUTIONS LLC

Many organizations continue to deal with reference data as an application-level issue. After all, every application requires some reference data. Multiple business units may use similar reference data and may even be purchasing similar data from multiple diverse data service providers at significant cost to the organization. Experience shows that upwards of  80% of reference data may be used by multiple applications. Clearly, common reference data should be considered enterprise data and governed through the Data Governance group. Common reference data often crosses subject area lines and therefore difficult to identify which data steward may be responsible for managing it. Moreover, reference data can often be seen as an unwanted stepchild and left behind. However, many of the organization’s metrics and governmental reporting may now depend upon common reference data. This session discusses common symptoms for the lack of reference data management and how to instantiate governance—either formally or informally—by covering these key issues:

  • Identifying what is common reference data and which data stewards/SMEs are the trustees when reference data crosses lines of business
  • Dealing with regulatory bodies and leveraging governmental agencies as sources of reference data
  • Creating new ways for informal governance of reference data while leveraging natural entry points to take advantage of business events in the business

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