Exploiting Data Value
Data governance and management are required to respond effectively to increasingly stringent regulatory requirements but at the same time can yield business opportunities.
Within a banking group there is plenty of data that must be protected (in terms of integrity, privacy and security) but has to be, at the same time, available to the different corporate functions.
For this reason it’s fundamental to address IT organization and architecture efforts in order compose a data warehouse to spread information efficiently.
- Governance: developing structures in synergy with the data management models, moving from distributed and dedicated structures to centralized structures serving all units
- Data hub: implement integrated databases, extensive and flexible in order to respond to the increasing information needs of management and the regulatory authorities
- Tools: develop the existing instruments to extract knowledge from the data, facilitating improvement in the capabilities in terms of phenomenon analysis and reporting
- Skills: develop specialist skills and expertise in the data management area
The Group has also launched development programmes to design and create a data management unit and a structured data warehouse, as well as systematic data governance processes(e.g. data quality, business glossary).