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Nowadays everyone agrees on the importance of the data governance. The understanding that it is critical to deliver trust, regulatory compliance and that it is a key element to deliver improved business has been well-accepted.

Successfully implementing data governance requires changes and investments in several domains:

  • People will need get trained and get support with their change. Don’t forget that certain co-workers will take up a new role (i.e. data steward), some people will need to share data ownership, etc. The necessary attention to change management is required.
  • Your business process will for sure benefit from optimizations but also require change. Important to realize in the data governance – process context is that you will become capable to tilt your organization from system or application silos to an approach where data is governed from a process point of view across your organizational landscape.
  • Also on a technology level you will need to optimize what you already have in place and most likely acquire data governance specific functionality that you currently lack. Think about a data governance capable business glossary, data catalog, etc.



Making it tangible

Understanding investments is one facet, getting value out of data governance is something else. How do you make all this tangible?

The most successful of our data governance clients focus on the next important areas:

Revenue Impact. 

Focus on identifying and addressing new business opportunities through data analytics & data science use. The only hard requirement is obviously that your data governance foundations should be in place. You might have the fanciest and most powerful analytical tooling available but without data governance, it remains like finding the magnetic north point with a faulty compass. Calculating the return of this comes down to considering the cost of the data related efforts and the potential business outcome. This is an exercise that will require input from all the involved stakeholders – both business and it. 


Business User Productivity.

Proper Data Governance is primarily an enabler. The business user area is a great example to illustrate this. Allowing them to move from finding data to applying data, directly results in increased their productivity and value to the organization. They are enabled to focus their core business instead of wasting huge amounts of time before they can start. A recent IDC study calculates the productivity gains will have an average value of €1572 per impacted user per year.

Operational Productivity.

Having better data quality, improved data controls, a connected data speech community, … will also generate operational benefits. No more waste of time due to ping-pong games caused by unclear roles and responsibilities, rework and churn due to dirty or incomplete data, …

Risk Mitigation. 

Data governance is key for compliance and audit purposes. Having visibility on data lineage, ownership and track and trace of data consumption is elementary for GRC teams. Having a proper data governance platform facilitates this and allows your teams to act more quickly and efficient. Governed automation vs ad-hoc manual effort is what this is all about. In this area IDC projects, in the same study, that organization can realize a benefit of €1280 per impacted user per year.

Besides operational efficiency, the direct cost elements of the overall risk can be calculated quiet easily. Think about the GDPR legislation where penalties are set up to €10 million, or 2% of the worldwide annual revenue of the prior financial year, whichever is higher.

Calculating the indirect costs elements is a bit more complicated. Think about the same GDPR example. The penalty issued for an infringement is clearly specified but imagine that your organization is active in a market vertical where reputation and being a trustworthy party is extremely important. In that type of scenario, getting a GDPR penalty will also have a big impact on your revenue and generate substantial costs to brush up your reputation. Calculating these costs requires organizational and market vertical specific insight.

 

With this info, you’re off to a good start. If you would require some practical advice and expertise, reach out to us.




Interested in the Data Governance?

Would you like to know how Datalumen can also help you with tour Data Governance initiative?  Contact us and start our data conversation.

Summer is here and the longer days it brings means more time available to spend with a ripping read. That’s how it ideally works at least. We selected 3 valuable books worth your extra time.

 

The Chief Data Officer’s Playbook

The issues and profession of the Chief Data Officer (CDO) are of significant interest and relevance to organisations and data professionals internationally. Written by two practicing CDOs, this new book offers a practical, direct and engaging discussion of the role, its place and importance within organisations. Chief Data Officer is a new and rapidly expanding role and many organisations are finding that it is an uncomfortable fit into the existing C-suite. Bringing together views, opinions and practitioners experience for the first time, The Chief Data Officer’s Playbook offers a compelling guide to anyone looking to understand the current (and possible future) CDO landscape.

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Data Virtualization: Going Beyond Traditional Data Integration to Achieve Business Agility

Data Virtualization: Going Beyond Traditional Data Integration to Achieve Business Agility, the first book ever written on the topic of data virtualization, introduces the technology that enables data virtualization and presents ten real-world case studies that demonstrate the significant value and tangible business agility benefits that can be achieved through the implementation of data virtualization solutions. The book introduces the relationship between data virtualization and business agility but also gives you  a more thorough exploration of data virtualization technology. Topics include what is data virtualization, why use it, how it works and how enterprises typically adopt it. 

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Start With Why

Simon Sinek started a movement to help people become more inspired at work, and in turn inspire their colleagues and customers. Since then, millions have been touched by the power of his ideas, including more than 28 million who’ve watched his TED Talk based on ‘Start With Why’ — the third most popular TED video of all time. Sinek starts with a fundamental question: Why are some people and organizations more innovative, more influential, and more profitable than others? Why do some command greater loyalty from customers and employees alike? Even among the successful, why are so few able to repeat their success over and over? 
 
People like Martin Luther King, Steve Jobs, and the Wright Brothers had little in common, but they all started with Why. They realized that people won’t truly buy into a product, service, movement, or idea until they understand the Why behind it.  ‘Start With Why’ shows that the leaders who’ve had the greatest influence in the world all think, act, and communicate the same way — and it’s the opposite of what everyone else does. Sinek calls this powerful idea The Golden Circle, and it provides a framework upon which organizations can be built, movements can be led, and people can be inspired. And it all starts with Why.

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Summer Giveaways

We’re giving away 50 copies of ‘Data Virtualization: Going Beyond Traditional Data Integration to Achieve Business Agility’.  Want to win? Just complete the form and cross your fingers. Good luck!


Winners are picked randomly at the end of the giveaway. Our privacy policy is available here.

Getting a good understanding of the requirements but also the opportunities and business value is not easy. We designed a GDPR business value roadmap to help you with this and also make you understand what capabilities you need to get the job done.  


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  • How will you understand what in-scope data is used for, for what purpose and by whom?
  • How will you demonstrate how you’re aligning to the principles?
  • Is your approach mostly manual, using interviews, questionnaires & static documentation?
  • Is your approach inaccurate, time consuming, resource consuming, out-of-date –or all of the these?


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  • Do you understand where in-scope data is across your organisation and how it is shared?
  • How will you demonstrate you understand the size & shape of the data problem across domains and data subjects?
  • Is your approach mostly manual, using interviews, questionnaires & static documentation?
  • Is this approach inaccurate, time consuming, resource consuming, out-of-date –or all of the these?

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  • How will you capture, manage and distribute consents across channels and business units?
  • How will you demonstrate you have captured the lawfulness of processing across all in-scope data sources?
  • Do you have anything in place already? Or are you planning on extending existing preferences capabilities?

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  • How will you put protections and controls around identified in-scope data?
  • Can you demonstrate you have relevant control over the relevant in-scope data?
  • Are you planning to manually apply controls? Or apply masking, deletion & archiving solutions as required?
  • Will this approach give you a holistic view around the protections & controls you have in place?





Complete the form and download this Datalumen infogram (A3 PDF).



The Datalumen privacy policy can be consulted here.

More info on our Advisory Services?

Would you like to know what Datalumen can also mean to your GDPR or other data governance initiatives?

Have a look at our GDPR or Data Governance
contact us and start our Data Conversation.



In 2013 cyber insurance was still a brand new product on the insurance market. At the time, only a negligible minority considered this policy to be useful. In the meantime, the number of online processes in the business world has steadily increased and the risks are no longer under discussion. Furthermore, Europe is placing cyber security high on the agenda with its new privacy legislation (GDPR).

Most companies already know that the GDPR requires a multi-facet initiative. Approaching data privacy risk from a legal, process and data point of view is fundamental. Cyber insurance can be an extra component in this approach and can be the missing link that gives companies the extra guarantee to cover its end to end privacy risk.

We interviewed Tom Van Britsom, cyber insurance expert at Vanbreda Risk & Benefits, to give you insight in the Cyber Insurance state of business. Vanbreda Risk & Benifits is a well known independent insurance broker and risk consultant.

Tom Van Britsom, Vanbreda Risk & Benefits

The business world and cyber criminals have both changed. Can you explain?

The increased importance of cyber insurance is a direct consequence of a metamorphosis that has unfolded in two areas over the past few years. First of all, the business world has become largely digitized. Major steps have been taken not only in production processes, but in terms of invoicing and finance. The B2C market has become highly digitized too, with virtually everything now being able to be ordered online.

Second, cyber criminals themselves have become much more professional. In the past, individuals represented the greatest threat in this area. They explored the boundaries of what was possible and tried to corner companies. This initial form of cyber crime has now given way to a more professional form which defies belief. For example, today there are gangs that employ an entire army of hackers and an accompanying call center to hold companies to ransom with maximum speed and efficiency.

How is a cyber policy tailored to this new reality?

Cyber insurance covers damage incurred by a company following a cyber incident. This can be caused by exposure to malware, viruses or hackers, as well as human error by an employee. The consequences are often severe: from loss of income due to interrupted operations, overtime logged by IT staff and the deployment of other professionals to sizeable claims from customers or suppliers affected by the data leak.

Today, cyber insurance is a comprehensive policy which – spurred on by the insurance industry – has adapted to the new context. Initially, there were two separate policies: one covered the insured party’s liability – from fines and notification fees to claims from companies that incurred damage as a result of a data breach or a virus via the insured party’s servers. A second policy was designed to cover personal damage incurred by the insured party, e.g. after operations were interrupted.

Now, however, both elements are combined into a single cyber insurance policy.

In recent years, the policy has been further expanded with new coverage, including cover against cyber theft and telephone hacking. The triggers of this policy have also become broader. Cyber insurance as it stands now can cover the financial consequences resulting from a security breach, human error or natural causes such as lightning.

Furthermore, many extra services have been added to this policy. Insured parties can now turn to helplines for legal assistance, crisis management and IT and PR support. Free scans are also offered that provide insight into a company’s vulnerability to cyber attacks and hackers.

The number of policies is obviously increasing exponentially – But what about the damage incurred?

In 2016, cyber insurance made its definitive breakthrough. Our experts at Vanbreda i.e. noticed that in 2017, the number of cyber policies taken out doubled in comparison to the year before.

The new European privacy regulation (GDPR) clearly creates an incentive for this, as there are substantial fines for those companies that do not comply. Today, administrative fines – along with all costs associated with the obligation of notification – can be insured in a cyber policy.

Unfortunately, many companies have recently been confronted by (attempted) cyber crime. This has also served as a wake-up call.

Vanbreda’s damage figures, and those of a few major cyber insurers, do not lie: one in thirteen of those insured have submitted a claim in the past five years. Our own figures (see graph below) show that 43% of the cases involved CryptoLockers. A data breach was the cause of just 5% of the claims, although that number will undoubtedly increase in 2018. From May 2018 onwards, an obligation of notification will apply for data leaks under the GDPR legislation.

There are two damage categories. One involves CryptoLockers. Although they are now quite common, the damage is fortunately limited to up to EUR 10,000. The other form of damage is increasing all the time, with instances of cyber theft where one million euros disappears or operations are interrupted for a period of days or weeks. The financial impact of this is huge. In Europe, there have been several well-known examples of cyber damage leading to millions of euros being lost.



What does the cyber insurance future hold?

The previous graph, with data from 2017, will almost certainly look completely different within a few years.

Due to the obligation of notification for data leaks, this type of damage will join the top three. In addition, Europe will impose fines amounting to up to 4% of global turnover in the event of data leaks following non-compliance with the GDPR regulation. This will also become evident in the amount of damages paid out.

It is clear that legislation is tightening and ignorance will no longer be accepted. Neither the government nor the business world is in any doubt of the current risks. In short, the usefulness of cyber policies is no longer under discussion.

 


More info on our Advisory Services?

Would you like to know what Datalumen can also mean to your GDPR or other data governance initiatives?

Have a look at our GDPR or Data Governance
contact us and start our Data Conversation.


By 2021, the CDO Role Will Be the Most Gender Diverse of All Technology-Affiliated C-level Positions.

As the role of chief data officer (CDO) continues to gain traction within organizations, a recent survey by Gartner, Inc. found that these data and analytics leaders are proving to be a linchpin of digital business transformation. 

The third annual Gartner Chief Data Officer survey was conducted July through September 2017 with 287 CDOs, chief analytics officers and other high-level data and analytics leaders from across the world. Respondents were required to have the title of CDO, chief analytics officer or be a senior leader with responsibility for leading data and/or analytics in their organization. 

“While the early crop of CDOs was focused on data governance, data quality and regulatory drivers, today’s CDOs are now also delivering tangible business value, and enabling a data-driven culture,” said Valerie Logan, research director at Gartner. “Aligned with this shift in focus, the survey also showed that for the first time, more than half of CDOs now report directly to a top business leader such as the CEO, COO, CFO, president/owner or board/shareholders. By 2021, the office of the CDO will be seen as a mission-critical function comparable to IT, business operations, HR and finance in 75 percent of large enterprises.” 

The survey found that support for the CDO role and business function is rising globally. A majority of survey respondents reported holding the formal title of CDO, revealing a steady increase over 2016 (57 percent in 2017 compared with 50 percent in 2016). Those organizations implementing an Office of the CDO also rose since last year, with 47 percent reporting an Office of the CDO implemented (either formally or informally) in 2017, compared with 23 percent fully implemented in 2016. 

“The steady maturation of the office of the CDO underlines the acceptance and broader understanding of the role and recognizes the impact and value CDOs worldwide are providing,” said Michael Moran, research director at Gartner. “The addition of new talent for increasing responsibilities, growing budgets and increasing positive engagement across the C-suite illustrate how central the role of CDO is becoming to more and more organizations.” 

Budgets are also on the rise. Respondents to the 2017 survey report an average CDO office budget of $8 million, representing a 23 percent increase from the average of $6.5 million reported in 2016. Fifteen percent of respondents report budgets more than $20 million, contrasting with 7 percent last year. A further indicator of maturity is the size of the office of the CDO organization. Last year’s study reported total full time employees at an average of 38 (not distinguishing between direct and indirect reporting), while this year reports an average of 54 direct and indirect employees, representing the federated nature of the office of the CDO design. 

Gartner CDO Survey Results

Key Findings

CDO shift from defense to offense to drive digital transformation

With more than one-third of respondents saying “increase revenue” is a top three measure of success, the survey findings show a clear bias developing in favor of value creation over risk mitigation as the key measure of success for a CDO. The survey also looked at how CDOs allocate their time. On a mean basis, 45 percent of the CDO’s time is allocated to value creation and/or revenue generation, 28 percent to cost savings and efficiency, and 27 percent to risk mitigation. 

“CDOs and any data and analytics leader must take responsibility to put data governance and analytics principles on the digital agenda. They have the right and obligation to do it,” said Mario Faria, managing vice president at Gartner. 

CDO are responsible for more than just data governance

According to the survey, in 2017, CDOs are not just focused on data as the title may imply. Their responsibilities span data management, analytics, data science, ethics and digital transformation. A larger than expected percentage of respondents (36 percent) also report responsibility for profit and loss (P&L) ownership. “This increased level of reported responsibility by CDOs reflects the growing importance and pervasive nature of data and analytics across organizations, and the maturity of the CDO role and function,” said Ms. Logan. 

In the 2017 survey, 86 percent of respondents ranked “defining data and analytics strategy for the organization” as their top responsibility, up from 64 percent in 2016. This reflects a need for creating or modernizing data and analytics strategies within an increasing dependence on data and insights within a digital business context. 

CDO are becoming impactful change agents leading the data-driven transformation

The survey results provided insight into the kind of activities CDOs are taking on in order to drive change in their organizations. Several areas seem to have a notable increase in CDO responsibilities compared with last year:

  • Serving as a digital advisor: 71 percent of respondents are acting as a thought leader on emerging digital models, and helping to create the digital business vision for the enterprise.
  • Providing an external pulse and liaison: 60 percent of respondents are assessing external opportunities and threats as input to business strategy, and 75 percent of respondents are building and maintaining external relationships across the organization’s ecosystem.
  • Exploiting data for competitive edge: 77 percent of respondents are developing new data and analytics solutions to compete in new ways.

CDO are diverse and tackling a wide array of internal challenges

Gartner predicts that by 2021, the CDO role will be the most gender diverse of all technology-affiliated C-level positions and the survey results reflect that position. Of the respondents to Gartner’s 2017 CDO survey who provided their gender, 19 percent were female and this proportion is even higher within large organizations — 25 percent in organizations with worldwide revenue of more than $1 billion. This contrasts with 13 percent of CIOs who are women, per the 2018 Gartner CIO Agenda Survey. When it comes to average age of CDOs, 29 percent of respondents said they were 40 or younger. 

The survey respondents reported that there is no shortage of internal roadblocks challenging CDOs. The top internal roadblock to the success of the Office of the CDO is “culture challenges to accept change” — a top three challenge for 40 percent of respondents in 2017. A new roadblock, “poor data literacy,” debuted as the second biggest challenge (35 percent), suggesting that a top CDO priority is ensuring commonality of shared language and fluency with data, analytics and business outcomes across a wide range of organizational roles. When asked about engagement with other C-level executives, respondents ranked the relationship with the CIO and CTO as the strongest, followed by a broad, healthy degree of positive engagement across the C-Suite. 


More info on our Advisory Services?

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Have a look at our Services Offering
contact us and start our Data Conversation.


Fishing in a lake and a data lake are much the same.
Data scientists must not only go where the fish are for big data insights, but also find a way to quickly build the data pipeline that turns raw data into business results.

When fishing it doesn’t matter how good of a fisherman you are—you’re not going to catch anything if you’re not fishing where the fish are. This same bit of advice extends to data lakes. 

Not even the best data scientists in the world can find insights in data lakes that are nothing but data swamps. But that’s what most data analysts are using today—swamps filled with databases, file systems, and Hadoop clusters containing vast amounts of siloed data, but no efficient way to find, prepare, and analyze that data. That is why ideally you have collaborative self-service data preparation capabilities with governance and security controls.

With this in mind, Informatica launched Big Data Management, which included a Live Data Map component to collect, store, and manage the metadata of many types of big data and deliver universal metadata services to power intelligent data solutions, such as the Intelligent Data Lake and Secure@Source. Intelligent Data Lake leverages the universal metadata services of Live Data Map to provide semantic and faceted search and a 360-degree-view of data assets such as end-to-end data lineage and relationships.



In addition to smart search and a 360-degree-view of your data, Intelligent Data Lake provides analysts with a project workspace, schema-on-read data preparation tools, data profiling, automated data discovery, user annotation and tagging, and data set recommendations based on user behavior using machine learning. These capabilities make it much easier for analysts to “fish where the fish are” for big data insights.  

In order to “land the fish” and turn these insights into big value, there needs to be a way to quickly build the data pipeline that turns raw data into business results. Intelligent Data Lake does this automatically by recording all the actions of a data analyst as they prepare data assets in what is called a “recipe.” These recipes then generate data pipelines (called mappings in Informatica) that IT can automatically deploy into production. What better way to turn insights into business value and fry up those fish you just caught?

If you want to see how an Intelligent Data Lake works through a live demo, please contact us or have a chat with us at the upcoming Big Data & Analytics 2017 event.