According to an Ernst & Young survey titled “The DNA of the CIO,” many CIOs struggle to gain credibility among their C-level colleagues. This challenge arises from the perception that IT operates as a “business as usual” function, rather than a strategic “business enabler.” While the CIO may be deemed competent as long as IT functions smoothly, they are not recognized as drivers of business change or contributors to the overall strategy.

The Power of Data Management

Data management is a discipline that bridges the gap between business and IT.

In today’s dynamic landscape, data permeates every aspect of an enterprise. It moves across systems, survives mergers and acquisitions, and is shared among various platforms, from ERP to CRM to data warehouses. Data is pervasive. As data migrates or serves unforeseen purposes, it may no longer align ideally with the business’s evolving needs.

Tactical Initiatives and Project Risks

Nearly every project involves an element of data management, whether it’s transforming existing data to fit new purposes or consolidating multiple data sources for a unified understanding. Unfortunately, these tactical initiatives are often poorly scoped and planned, as they are considered less critical than functional design. This lack of attention creates a significant project risk, where data may be missing, inconsistent, or inadequate when brought into the new system.

Moreover, these tactical initiatives may overlap, resulting in redundant efforts. In the best-case scenario, this leads to wasted resources, while in the worst case, it generates multiple conflicting views of truth, causing complexity and confusion for subsequent users.

Embracing Data Governance and Quality

Businesses are increasingly recognizing the importance of data governance, data quality, and master data management. In response, some organizations have even introduced a new C-level position: the Chief Data Officer, highlighting the growing need for managing data complexity. In this scenario, the role of the CIO may shift primarily to providing infrastructure.

The Key to Success: Multifunctional Teams

The most successful data management approaches involve multifunctional teams that blend business members, who possess deep insights into data’s operational role, and IT members, who excel in understanding data storage and movement within the enterprise. In our most fruitful engagements, our steering committees include both the CIO and key business stakeholders, such as the CFO and CRO. The emerging discipline of DataOps formalises collaboration amongst cross-functional teams to deliver relevant insights more quickly.

Beyond Buzzwords: Data Management Excellence

Data management is not solely about “big data” and “the cloud,” although these topics have relevance.

It encompasses a comprehensive discipline that empowers business excellence through data excellence. While emerging initiatives like big data analytics, machine learning and data science compete for attention, organizations must also prioritize enhancing customer experiences, streamlining operational processes, and complying with regulatory requirements.

Each of these initiatives relies on quality data to fulfil business requirements.

For nearly fifteen years, we have been dedicated to ensuring data quality. We possess the expertise to implement effective data governance and master data management programs, leveraging appropriate technology to drive excellence. Our focus remains constant, even as technologies and business needs evolve. Adopting a strategic view of data management can reduce operational costs and mitigate risks, and it is our goal to assist you in achieving these benefits.