2017 DCAM Data Management Benchmark Data Now Available In Pellustro

The EDM Council has just released the results of the 2017 Data Management Benchmarking Survey.

This marks the 2nd survey, after the introduction of the DCAM Data Management Benchmark in 2015. The DCAM Data Management Benchmark enables for the first time the measurement of progress of the financial industry in establishing data management capabilities.

The survey is based on the Data Management Capability Assessment Model (DCAM) and includes responses from over 150 financial organizations across the global industry for the following 22 questions:

Setting Up the Data Management Program
1Our organization has a defined and endorsed data management strategy
2The goals, objectives and authorities of the data management program are well communicated
3The data management program is established and has the authority to enforce adherence
Obtaining Commitment from Stakeholders
4Stakeholders understand (and buy into) the need for the data management program
5The funding model for the Data Management Program is established and sanctioned
6The costs of (and benefits associated with) the Data Management Program are being measured
7The data management program is sufficiently resourced
8Data management operates collaboratively with existing enterprise control functions
Implementing Operational Governance
9Data governance structure and authority is implemented and communicated
10Governance “owners” and “stewards” are in place with clearly defined roles and responsibilities
11Data policies and standards are documented, implemented and enforced
12The “end user” community is adhering to the data governance policy and standards
13The business meaning of data is defined, harmonized across repositories and governed
14Critical data elements are identified and managed
15Logical data domains have been declared, prioritized and sanctioned
16End-to-end data lineage has been defined across the entire data lifecycle
17Technical architecture is defined and integrated
Control Processes for Data Quality
18All data under the authority of the Data Management Program is profiled, analyzed and graded
19Procedures for managing data quality are defined, implemented and measured
20Root cause analysis is performed and corrective measures are being implemented
Collaboration with Information Technology
21Technology standards and governance are in place to support data management objectives
22The data management program is aligned with internal technical and operational capabilities

 

Data from the EDM Council’s 2015 and 2017 Data Management Benchmarking Survey can now be accessed and analyzed at no cost in PellustroTM – Element22’s cloud-based platform for DCAM assessments and benchmarking.

Follow this link https://benchmark.pellustro.com to access the results of the survey.

Within PellustroTM you will be able to compare the Data Management Benchmark between 2015 and 2017, but also  filter and compare results by region, tier and firm type, state of data governance, age of data management program, data management drivers and where data management program resides and by participant role or title.

With DCAM and this benchmark, the EDM Council ensures consistent measurement of data management programs, enabling firms to compare themselves with the industry, peers or any other grouping listed above.

Existing Pellustro clients have full access to premium features and can already benchmark their capability against the state of the industry with their existing accounts.

New users have the opportunity to upgrade from the free access to perform their own DCAM Sentiment and DCAM Capability Assessments and compare their scores with the industry and custom peer groups.

A detailed guide on how you can navigate the 2015 and 2017 Data Management Benchmarks with Pellustro can be found in the Pellustro Blog.

A market commentary provided by

Rohit Mathur, PartnerElement22

Thomas Bodenski, PartnerElement22

The opinions expressed are as of July 2017 and may change as subsequent conditions vary