The Secret Of Effective Data Stewardship

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The Secret to Effective Data Stewardship Treating marketing data as a key corporate asset Custom Presentation | October 2002

The Impact of Information

The Information Age? ! We have an abundance of data, but: – How much of our data builds information value? – How do we use this information for Knowledge Creation?

! Often we’re unable to turn data to information to knowledge due to the lack of data quality within our organization

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Impact of quality data ! Provides maximum functionality to the system ! Breeds sound decision-making ! Achieved through detailed attention to: – Integrity – Accuracy – Currency – Interpretability – Overall value to the organization 4

A Successful Data Management Strategy Turning data into actionable information

Responsibility of data quality ! Business Areas – Primary ! IT/IS/IM – Secondary ! Enterprise – Tertiary Data quality is created by putting sound business data management practices in place: A Data Stewardship Program helps data become a key corporate asset. 6

Concept of Data Stewardship ! Accountable and committed to the well-being of the corporation by operating in service to the total corporation ! Function, not a job title – Types of Data Stewards • Data Steward (from IT or IS) • Business Data Steward (from the defined business area)

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Data Steward Responsibilities ! Oversees the capture, entry, processing, summarization, distribution, and usage of data or information, application, or database development and their management – Data Quality (conformance to standards and specifications) – Monitor Data Quality (based on business rules) – Provide Quality control and auditing – Coordinate Data recovery (disaster recovery) – Work with business areas in support of database development and information acquisition and maintenance

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Business Data Steward Responsibilities ! Oversees the definition and coordination of the data resources in their subject of expertise, for others within the enterprise – Data Definitions – Data Quality Standards (Accuracy, Completeness, Consistency, Timeliness) – Prioritize data issues for the business – Support understanding of data/information use related to subject area – Regulatory and Legal Restrictions regarding use 9

Business Data Steward Responsibilities – Resolve/Facilitate horizontal data integration issues across subject areas – Control access to business data and information

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Data Stewardship Key Issues ! Security ! Quality ! Sharing (external)

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Data Security ! Providing or terminating access to specific data – Internal requests to access – New employees, transfers or terminations – External requests for access – Monitoring data access

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Data Quality ! Planning – Develop clear, concise data definitions – Establish mechanism for tracking and monitoring – Establish appropriate data quality measures

! Quality Monitoring/Control – Establish baseline measurements – Develop and hard-wire tracking and monitoring procedures – Evaluate and report measurements 13

Data Quality ! Quality Evaluation/Improvement – Continuous evaluation of data definitions – Evaluate and improve data measurements – Identify new measurements – Create, Refine, Update, and Delete data based on customer needs

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Data Sharing ! External relationships – Reduce expenses (COGS) – Increase revenues – Reduce administrative expenses – Enables added value to the customer

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Supporting Areas ! ! ! !

Information Management Corporate Data Security Internal Audit Legal Affairs

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Process Overview Data Issue

Identified Data Issue

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Process Overview Data Issue

Identified Data Issue

Report Data Issue

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Process Overview Data Issue

Identified Data Issue

Report Data Issue

Any Data Steward can Initiate Action

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Process Overview Data Issue

Identified Data Issue

Report Data Issue

Any Data Steward can Initiate Action

Business Data Steward has Final Approval 20

Process Overview Data Issue

Identified Data Issue

Data Issue Resolved

Report Data Issue

Any Data Steward can Initiate Action

Business Data Steward has Final Approval 21

Data Stewardship in Action Customer Data Quality Example

Know your data ! Where is it? – Data in the wrong fields – Floating data – Atypical words – Inconsistent structures and formats

! Is it accurate? ! Can you pull it together? ! Can you identify duplicates? 23

Know your data ! Is it accurate? – Variations – Misspellings – Old information – Transpositions

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Know your data ! Can you pull it together? – Inconsistent abbreviations – Unusual titles – Misspellings

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Know your data ! Can you identify duplicates? – Business rule development • What business rules do you have in place to identify dupes? • Is it working properly? – You should shoot for a 90% accuracy rate, or 10% kick-out for manual review

• If you input data has changed significantly, have you updated your business rules?

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Data Hygiene ! Scrubbing – Options • Database solutions – Combines algorithms with reference tables

• Non-database solutions – Relies solely on algorithms

– Address Cleansing • USPS – NCOA – LACS – DSF 27

Matching and Consolidation ! Logic options – Key-code matching – Soundex – Similarity matching – Weighted matching – Special purpose algorithms – – – –

Special-case logic General-case logic Special-case multi-field logic General-case multi-field logic

– Combining approaches 28

Keys “take-aways” ! The future of business requires successful data/information management ! Corporations must provide data quality, security and sharing needed to enable strategic goals ! Corporate data and information are intellectual assets key to managing Corporate knowledge ! Must have a support network 29

Keys “take-aways” ! Must understand the impact of data on the enterprise

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Thank you! Dave Harkins Co-CEO Taylor- Harkins Group [email protected] www.taylorharkins.com

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