![]() ![]() Also, at this time, Schultz’sĭepartment brought credibility and communicated about Data Stewardship through Much of this phase involved listening closelyĪnd narrowing down challenges to address. During this stage, Schultz’s team consulted stakeholders,Ĭo-workers, the internal audit department, compliance, and the privacy office Ready : Laying the groundwork and establishing.She included business and executive buy-in to this Data Stewardship, into the overall objective. Jenny Schultz, from Freddie Mac, described how Freddie Mac developed the Data Stewardship framework “Ready, Set, Go,” to leverage data for competitive advantage and enhance business value. Data Stewardship success depends on the framework choice and implementation to the system strengths and constraints. Likewise, Data Stewardship can be described by different systems. While there are some shared principles (e.g., deriving power from the core muscles) each requires a different mindset and consequently, different techniques. ![]() Karate, kung fu, capoeira,a and Vigny’s canne de combat exemplify different systems. Like martial arts, Data Stewardship operates within different frameworks. In his webinar Getting (Re)Started with Data Stewardship, Peter Aiken describes frameworks or models as a: Either way, strategies and tactics need to blend into frameworks. Data Stewardship can come under a formal Data Governance program or a Non-Invasive Approach™ (coined by Robert Seiner), where governance is applied to existing processes rather than redefining all of them. The combination of Data Stewardship’s strategy/tactical decision-making patterns form models and frameworks. This means that Data Stewardship falls under both strategies (plans of action designed to achieve an overall aim-or the “what”) and tactics (actions planned to achieve a specific end-or the “how”). Stewardship can be formalized through job titles and descriptions, or it can be a less formal function driven by people trying to help an organization get value from its data.” ![]() “The most common label to describe accountability and responsibility for data and processes that ensure effective control and use of data assets. The Data Management Body of Knowledge (DMBoK) defines Data Stewardship as: Demand and supply is misaligned.” What is Data Stewardship? “More and more organizations are adding the role ‘information steward,’ but they are not asking for the right solutions of the vendors to help them do their job. Freddie Mac took four or five attempts before getting a successful Data Stewardship Model. No wonder some organizations try to be data-driven and get the most of their data assets yet see initiatives crumble or die. “Hard to answer really basic but important questions-such as who are the most profitable customers and what are the most profitable channels-when different parts of the business may be classifying product, customer, and channels in different ways.” Despite this growth, businesses lack both satisfaction in their Data Quality and energy in extracting data, as 68 percent said they were either neutral or disagreed when asked if they had a high level of trust in the quality of their data assets.Īndy Hayler, CEO of the analyst firm The Information Difference, said it becomes: The report shows that around 39 percent of companies have been practicing Data Stewardship from 1-5 years, while only 7 percent said the role of data stewards “is recognized and maintained.” An overwhelming 90 percent said that both Data Governance and Data Stewardship had more interest and were more important today than 10 years ago. The DATAVERSITY® Trends in Data Governance and Data Stewardship report reveals companies’ growing understanding in the value of Data Stewardship. ![]()
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