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Ten steps to a maturity assessment driven Data Strategy, for your Bank

19 April 2020 Be the first to comment

Tejasvi Addagada

Tejasvi Addagada

Enterprise Data Head

Fortune 500 financial service provider

Here are ten steps to defining a data strategy based on a data capability maturity assessment, for a Financial Institution

Identify and Simplify Maturity models, and customize the yardstick as well as benchmarks based on local study and future organization strategy
Conduct workshop with leaders and grassroots to sensitize the assessment and questionnaires
Perform Individual interviews with specific stakeholder groups like PMO and Finance
Definitely required are two follow-ups to stakeholders for results on questions.
Analyze responses from stakeholders and stakeholder groups. A weighted average of responses gives a cumulative score for aspects like Data Quality and Architecture.
Publish Business Capability Maps, with capabilities - Gaps, Risk, Value, Outcome 6. Cascading Vision, Organization BSC to Data strategy
Map strategy to existing data capabilities and provisioning for new capabilities to reach the objective.
Sensitize the Data Strategy through Strategic Roadmap with everyone
Put an Operational roadmap for the immediate one year.
Sensitize Operational Roadmap by breaking down into projects and working groups.

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A community blog about data and how to manage it

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Tejasvi Addagada

Tejasvi Addagada

Enterprise Data Head

Fortune 500 financial service provider

Member since

02 Sep 2014

Location

Mumbai

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