Is Your Data Ready to Drive Your Company's Future?

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Before investing the time and money to implement a reporting and analytics solution to guide you out of the current economic crisis, make sure that your data is prepared to lead the way.

Join Edgewater Technology for a step-by-step approach to readying your data to support enterprise reporting and analytics applications.

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  • Similar automation can be put in place in Underwriting for policy applications, Loss Control service requests, outside appraisal services.
  • Is Your Data Ready to Drive Your Company's Future?

    1. 1. Enterprise Information Management Data Readiness Assessment Webinar August 18, 2009
    2. 2. Agenda <ul><li>Corporate Overview </li></ul><ul><li>Data Quality - Bigger Issue Than You Might Think </li></ul><ul><li>Data Quality - Real Life Examples </li></ul><ul><li>Do You Need A Data Readiness Assessment? </li></ul><ul><li>What is a Data Readiness Assessment? </li></ul><ul><li>Conducting a Data Readiness Assessment </li></ul><ul><li>Data Readiness Component Descriptions </li></ul><ul><ul><li>Vision & High-Level Requirements </li></ul></ul><ul><ul><li>Data Quality Assessment </li></ul></ul><ul><ul><li>Organizational Assessment </li></ul></ul><ul><ul><li>Process/Best Practice Assessment </li></ul></ul><ul><ul><li>Enabling Technology Assessment </li></ul></ul>
    3. 3. Corporate Overview <ul><li>Technology Management Consulting Firm </li></ul><ul><ul><li>Provide a unique blend of specialty IT services </li></ul></ul><ul><ul><li>Leverage proven industry expertise in strategy, technology and enterprise performance management </li></ul></ul><ul><ul><li>Focus on middle and Global 2000 market </li></ul></ul><ul><li>Founded in 1992 </li></ul><ul><ul><li>Headquartered in Wakefield, MA </li></ul></ul><ul><ul><li>300 Employees, 240 Consultants </li></ul></ul><ul><ul><li>600 Clients </li></ul></ul><ul><ul><li>Large North American Footprint </li></ul></ul><ul><ul><li>+2,000 Projects Completed to Date </li></ul></ul><ul><ul><li>Publicly Traded (NASDAQ: EDGW) </li></ul></ul>Organizational Assessment Other Customized Services
    4. 4. Data Quality – Bigger Issue Than You Might Think <ul><li>“ The cost of poor data could be attributed to be anywhere from 10-25% of the total revenues of any organization. The topmost technology reason for customer relationship management (CRM) projects to fail or miss expectations is poor Data Quality.” </li></ul><ul><ul><li>“ Principles of ROI Development for Data Quality Projects”, by Diby Malakar, Published: January 1, 2008 </li></ul></ul>
    5. 5. Data Quality – Bigger Issue Than You Might Think <ul><li>“ The Data Warehousing Institute estimates that data quality problems cost U.S. businesses more than $600 billion a year.” </li></ul><ul><li>- “Principles of ROI Development for Data Quality Projects”, by Diby Malakar, Published: January 1, 2008 </li></ul>
    6. 6. Data Quality – Bigger Issue Than You Might Think <ul><li>“ Data quality management is one of the greatest challenges of information technology. According to the experts, the cost of poor data quality can reach as high as 15- to 25-percent of operating profit.” </li></ul><ul><ul><li>- “http://www.tdwi.eu/fortbildung-zertifizierung/onsite/courses/data-quality-fundamentals.html </li></ul></ul>
    7. 7. Data Quality – Real-Life Examples <ul><li>A telecommunications firm lost $8 million a month because data-entry errors incorrectly coded accounts, preventing bills from being sent out </li></ul><ul><li>An insurance company lost hundreds of thousands of dollars annually in mailing costs due to duplicate customer records </li></ul><ul><li>An information services firm lost $500,000 annually and alienated customers because it repeatedly recalled reports sent to subscribers due to inaccurate data </li></ul><ul><li>A large bank discovered that 62% of its home-equity loans were being calculated incorrectly, with the principal getting larger each month </li></ul><ul><li>A health insurance company in the Midwest delayed a decision support system for two years because the quality of its data was “suspect” </li></ul><ul><li>A global chemical company discovered it was losing millions of dollars in volume discounts in procuring supplies because it could not correctly identify and reconcile suppliers on a global basis </li></ul><ul><li>A regional bank was unable to calculate customer and product profitability due to missing and inaccurate cost data </li></ul>Source: Data Warehousing Special Report: Data Quality and the Bottom Line, http://www.adtmag.com/article.aspx?id=6321&page
    8. 8. Do You Need a Data Readiness Assessment? <ul><ul><li>“ Our users don’t trust the data” </li></ul></ul><ul><ul><li>“ We have data quality issues that never seem to get resolved” </li></ul></ul><ul><ul><li>“ The data is not actionable when the users finally get access to it” </li></ul></ul><ul><ul><li>“ Our organization has decentralized operations and does not manage centralized applications/ environments well” </li></ul></ul><ul><ul><li>“ We know we have data quality issues, but we don’t know the extent or impact” </li></ul></ul><ul><ul><li>“ We don’t know if we have the right staff/skills to support a move to an enterprise reporting platform” </li></ul></ul>“ We know we need to better leverage our data, but we don’t know how to get started”
    9. 9. What is a Data Readiness Assessment? <ul><li>A Data Readiness Assessment is a focused review of an </li></ul><ul><li>organization’s ability to support centralized reporting and analytics </li></ul>Organizational Assessment Data Quality Assessment Other Customized Services Enabling Technology Assessment Process/ Best Practice Assessment Data Readiness Assessment
    10. 10. Benefits
    11. 11. Conducting a Data Readiness Assessment <ul><li>A Data Readiness Assessment is a focused review of an organization’s ability to support centralized data. It can be applied to an existing environment or a “green field” environment </li></ul><ul><li>A Data Readiness Assessment has 4 core components </li></ul><ul><ul><li>Organizational Assessment </li></ul></ul><ul><ul><li>Process/Best Practices Assessment </li></ul></ul><ul><ul><li>Enabling Technology Assessment </li></ul></ul><ul><ul><li>Data Quality Assessment </li></ul></ul><ul><li>A Data Readiness Assessment is highly customizable to your unique needs </li></ul><ul><li>Other focus areas can be added depending on the your organization’s unique needs </li></ul>
    12. 12. Conducting a Data Readiness Assessment Conduct Evaluation Vision and High-Level Requirements Organizational Assessment Enabling Technology Assessment Process/Best Practices Assessment Data Quality Assessment Assessment Output Assessment Results and Scorecard Summary Recommendations Areas for Additional Focus Additional Areas of Focus
    13. 13. Vision and High-Level Requirements Determining the end-state business capabilities that need to be supported by the centralized data environment GOAL <ul><li>Conduct Kick-Off Meeting with Key Business and IT Stakeholders </li></ul><ul><li>Conduct Facilitated Working Sessions with Key Business and IT Stakeholders </li></ul><ul><li>Prepare Vision and High-Level Requirements Summary Document </li></ul>MAJOR ACTIVITIES <ul><li>Presentation that Outlines: </li></ul><ul><li>The end state vision for the business capabilities that need to be supported by the centralized data environment </li></ul><ul><li>The high-level requirements for end-state reporting and analysis capabilities </li></ul>TYPICAL DELIVERABLE
    14. 14. Data Quality Assessment Determine the quality of key data critical to making business decisions GOAL <ul><li>Conduct facilitated working sessions to determine the data elements to include in the assessment </li></ul><ul><li>Determine the business data quality rules to apply </li></ul><ul><li>Conduct up to 3 passes of the data quality processing </li></ul><ul><li>Review interim results and revise business rules as necessary </li></ul><ul><li>Conduct a formal review of the assessment results </li></ul>MAJOR ACTIVITIES <ul><li>Data Quality Scorecard and Assessment Report: </li></ul><ul><li>Scorecard detailing the results of the assessment </li></ul><ul><li>Details of any data quality issues found and related </li></ul><ul><li>summary recommendations for remediation </li></ul>TYPICAL DELIVERABLE
    15. 15. Organizational Assessment Assess the current organization structure, capabilities and ability to support a centralized data environment GOAL <ul><li>Conduct facilitated working sessions/interviews with key stakeholders and subject matter experts within the data governance and data management functions </li></ul><ul><li>Review current staffing and skill set mix of the governance and data management functions </li></ul><ul><li>Review documentation related to development, production support, data management and governance </li></ul>MAJOR ACTIVITIES <ul><li>Presentation that outlines: </li></ul><ul><li>Assessment results by organizational component </li></ul><ul><li>Areas for future focus or further investigation </li></ul><ul><li>Summary recommendations </li></ul>TYPICAL DELIVERABLE
    16. 16. Process/Best Practices Assessment Assess the current processes, standards and best practices against those required to support a centralized data environment GOAL <ul><li>Conduct facilitated working sessions/interviews with key stakeholders and subject matter experts </li></ul><ul><li>Review enterprise and key departmental processes, best practices and standards </li></ul><ul><li>Review key data management processes, standards and best practices </li></ul><ul><li>Review enterprise processes for data quality, data stewardship and data security </li></ul>MAJOR ACTIVITIES <ul><li>Presentation that outlines: </li></ul><ul><li>The assessment results by area </li></ul><ul><li>Areas for future focus or further investigation </li></ul><ul><li>Summary recommendations </li></ul>TYPICAL DELIVERABLE
    17. 17. Enabling Technology Assessment Assess the enabling technologies used to support reporting and analytics in a centralized data environment. GOAL <ul><li>Evaluate the enabling technology currently used against the required reporting and analysis capabilities </li></ul><ul><li>The evaluation will be performed by business intelligence domain, including: </li></ul><ul><ul><li>Data Integration (including Data Quality) </li></ul></ul><ul><ul><li>Data Storage </li></ul></ul><ul><ul><li>Reporting and Analytics </li></ul></ul><ul><ul><li>Metadata/Master Data Management </li></ul></ul><ul><ul><li>Data/User Access </li></ul></ul>MAJOR ACTIVITIES <ul><li>Presentation that outlines: </li></ul><ul><li>The assessment results by business intelligence domain </li></ul><ul><li>Areas for future focus or further investigation </li></ul><ul><li>Summary recommendations </li></ul>TYPICAL DELIVERABLE
    18. 18. Why Edgewater <ul><li>Extensive subject matter expertise in data warehousing, business intelligence and enterprise management </li></ul><ul><li>Comprehensive EIM Reference Capabilities Map provides foundation for strategy, assessment and implementation of data warehouse and business intelligence solutions </li></ul><ul><li>Formalized offering for assessing data readiness </li></ul><ul><li>Balance in focus between process/best practices, organizational constructs and enabling technologies </li></ul><ul><li>Apply deep industry specific knowledge in the execution of the data readiness assessment </li></ul><ul><li>All of our consultants are onshore </li></ul><ul><li>We are vendor independent </li></ul>
    19. 19. Thank You For Joining Us!!! To learn more about Edgewater’s Data Readiness Assessment, contact: Mike Faloney Enterprise Information Management Practice Director 804 399-4214 [email_address] Q & A

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