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Top 3 CDO Themes from FIMA Europe

Posted by Tony Brownlee on Nov 29, 2016 6:30:00 AM

A couple of weeks ago, I spent a few days with 500 of my fellow data professionals at the FIMA Europe conference in London. I’ve been going to FIMA events for more than 10 years and it’s been exciting to see this industry evolve. As Peter Serenita, Group CDO of HSBC put it, we can honestly say we’re a profession now. 

So what did this gathering of data professional have to say? For those that missed it, here are three of my top observations, coming from my data and technology executive point of view.

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Topics: Cognitive, Leadership

Use Industry Models to Help with Global Challenges of GDPR

Posted by Jeff Gorball on Nov 23, 2016 11:12:41 PM

The EU Global Data Protection Regulation (GDPR) was one of the most discussed topics at a recent financial services data conference (FIMA) in London. The discussions mirrored a recent poll that cited more than 60 percent of respondents were either in the planning stage or hadn't started preparing for GDPR as of October 2016. The reason the GDPR is such a high-profile conversation and concern is because of its impact.  Like some other regulations before it, such as BCBS 239, or Solvency II, GDPR requires a significant change in how we think about and execute management of data. Not just management of data in the EU, but globally.

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Topics: DCAM, DMM, Regulations

Dulling the Bleeding Edge: Growing the Future of Web Development

Posted by Andrew Gross on Nov 10, 2016 7:46:47 AM

It is a simple truth: there is more information vying for our time today than ever before, and it will continue to increase every year. In fact, some estimates put the amount of media consumed in the US last year at around 15.5 hours per person per day, or about 96% of our waking hours. Of course, information overload is nothing new to any of us. We are all familiar with the ever-growing torrent of emails, videos, social media, and yes even blogs constantly warring for our attention. So how does this concept of information overload relate to the bleeding edge of web development? Let's consider how the web has changed in recent years. 

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Topics: Development

Four Categories of Data Quality Management

Posted by Tony Brownlee on Oct 11, 2016 6:30:00 AM

In our time spent with executives throughout the financial services industry, we've uncovered four categories of activity that consume leaders' time and budget for data quality.  In particular, with such a focus on legal entity data, we are seeing a significant focus on improving the spend and data governance efforts around these categories of data quality management. Firms that identify data quality issues early and move quickly to fix problems typically achieve higher success with more advanced data management requests, and fewer questions from regulators. Take a look at the four categories and download the whitepaper for more information on entity data quality.

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Topics: Legal Entity Data, Data Quality

Microservices and the Cloud Go Hand in Hand

Posted by Trond Gjendem on Oct 6, 2016 6:15:00 AM

In a prior post I defined microservices and the advantages they provide over more traditional monolithic application architectures.

At Kingland we see the cloud as a key enabler of the microservice architecture. Many microservice features enable organizations to benefit from an environment that automatically scales, communicates with other services, and replace a faulty service without impacting conjoined services. Three of the most important features of the cloud, as it relates to running microservices, are rapid provisioning, service discovery, and detailed monitoring.  

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Topics: Architecture

Six Quick Tips for Cognitive Project Success

Posted by Tony Brownlee on Oct 4, 2016 6:30:00 AM

We've seen continued focus on cognitive, or artificial intelligence (AI) technologies from some of the larger tech companies in the world. This wave of technology is truly revolutionary, but it can be a bit confusing. With new definitions popping up like a frenetic game of buzzword bingo, I prefer this simple explanation used by New York Times reporter Quentin Hardy: 

"Cloaked inside terms like deep learning and machine intelligence, AI is essentially a series of advanced statistics-based exercises that review the past to indicate the likely future."

As I've said before, I think everyone should be taking on a cognitive project. As you're working on your plans, here are six tips for understanding this space and narrowing your priorities.

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Topics: Cognitive Computing

Over 90% of Hierarchy Data Problems Fall into these Categories

Posted by Tony Brownlee on Sep 8, 2016 11:30:00 AM

You're at a party, striking up a conversation with your friends and colleagues, and what do you talk about?  Sports. Politics. Business. Hierarchy data?  While hierarchy data may not always be the first topic discussed, I've been to a few events with chief data officers where it does come up.  If it comes up at your next cocktail party, I want you to be ready to contribute to the conversation. And if I’m in attendance, I’ll join you in the conversation.

Joking aside, for data professionals, hierarchy data is growing in importance.  Sometimes referred to as relationship data, family tree data, legal or corporate hierarchy, this data topics is about the relationships between legal entities that indicate ownership, control, or influence of one entity over another.  

My passion for hierarchy data started in the 2003 time-frame solving global hierarchy data problems related to issuers of securities across 140 countries for public accounting firms.  As 2008 rolled around and issues in the financial markets hit, many banking and capital markets institutions and insurance companies started to realize the importance of hierarchy data for risk purposes.  Then, as regulations emerged, relationship data became a must have for regulatory reporting, risk aggregation, capital adequacy, and many other use cases.  Now, we're seeing many global companies look at the importance of hierarchies for understanding supplier business relationships, analyzing revenue and pricing strategies, and assessing cross-border client relationships.  

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Topics: Legal Entity Data, Data Quality, Data Governance, Big Data, Hierarchy data

5 Essential Steps to Measuring Entity Data Quality

Posted by Tony Brownlee on Aug 15, 2016 6:30:00 AM

Use these five steps and reduce your costs associated with data quality.

Take Advantage of New Technology

By using new technology, firms can scan their data and identify problem areas to gain a quick overview of the state of their entity data. New technology can upload data records and perform hundreds of quality scans, covering data completeness, consistency, duplication and more. You can even uncover data by attribute, and assess dozens of aspects that define quality.

Today, technology can read information from hundreds of sources just like a human and identify names, addresses, relationships, and other information…just like a human. Think about what could happen if your technology can’t readily match the right name with the right address.

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Topics: Legal Entity Data, Data Quality, Data Management, entity data

$500,000 Problems Hiding in Budget Season

Posted by Tony Brownlee on Jul 26, 2016 6:00:00 AM

Budget season is a unique, truth-telling process of sorts. It's that time of year where executives begin to put together plans for the future, align with bigger picture vision, establish goals, and also look back on what's been accomplished and how things have been going. While executives reflect, they must first ask, did we accomplish everything we set out to achieve this year?  Many times the answer to that question is "no, but we're close."  

In my opinion, executives are consistently plagued with "no, but we're close" problems, and these problems eat into next year's budget.  In simplistic terms, I call these $500,000 problems (or even larger in many organizations).  Why $500,000? 

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Topics: Vendor Relationship, Managed Services

How Analogies Bridge the Communication Gap Between IT and the Business

Posted by Matt Good on Jul 15, 2016 6:00:00 AM

Welcome back to the "From Code to Crayons" series. In Part 2, we'll take a look at how you can use analogies to connect software development and technical work to business value. When used effectively, analogies can help Software/IT Executives and Practitioners tie their technical excellence to business value for business leaders. (If you missed Part 1 of the series, you can find it here). 

Analogies, when used well, can help everyone hone in on what's important and keep your discussions at a strategic level by providing business value. IT executives "need not understand every aspect of the problem at hand. Rather, they pay attention to select features of it and use them to apply the patterns of the past to the problems of the present," according to an article from HBR.org

Personally, the best analogy I have ever leveraged, and have also witnessed other Executives/Practitioners leverage, is the great "homeowner" analogy. If you have ever remodeled or built a new home, the analogy resonates even further. Consider these primary analogy points in connecting the homeowner/construction analogy to software development projects in particular:

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Topics: Leadership