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Data Management 101
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Ten steps to a maturity assessment driven Data Strategy, for your Bank

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

 

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Regulation & Compliance Retail banking

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Data Management 101
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Tejasvi Addagada

Tejasvi Addagada

Data Governance Head

Fortune 500 financial service provider

Member since

02 Sep 2014

Location

Mumabi

Blog posts

15

Comments

6

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