The Council has been conducting a formal benchmark of the state of data management within the financial industry since 2010. The benchmarking research covers both quantitative and qualitative measures and is used to gauge the level of data management maturity across the investment banking, asset management and securities servicing segments of the financial industry. The benchmarking initiative covers areas associated with:
Reference Data Strategy
Governance model and implementation approach; TCO calculations and funding model; metrics and evaluation monitoring.
Location strategy and lines of reporting; requirements capture and data flows; standards and procedures; business process and data lifecycle; operational resource allocation; procurement processes; vendor evaluation; annual budget.
Data Platform and IT
Architectural approach, distribution and messaging, data model and semantics; platform and systems of record management; integration strategy; annual budget.
Strategies for quality assurance (profiling, cleansing, QA measurement); change requests and exception management.
The Council is indebted to Genpact Headstrong - formerly Headstrong Technologies (development partner to the Council who helped initiate the EDM Council’s overall benchmarking program); Thomson Reuters (program sponsor of the 2012 industry study); and Element-22 (the strategic consulting firm that has been supporting the research and analysis methodology). Future benchmarking studies will be aligned with the assessment criteria defined within the Data Management Maturity initiative.
If you would like to discuss any aspect of the benchmarking survey results please contact Jim Halcomb.
Funding for the benchmarking research is provided through member participants and vendor sponsorship packages. If you have interest in the sponsoring future benchmarking programs please contact Patrick Leonard.