Master Data Management in a Big Data World

Report Summary

Master Data Management in a Big Data World

Mitch Wein
Head of Financial Services CIO/CTO Advisory

June 2017 - Data is a key enabler of the insurance industry’s evolution into a fully digitized provider of risk services focused on customer, not product. Once data is collected, the CIO becomes responsible for its storage, management, and use. This is highly complex in today’s world; the data is both structured and unstructured and is controlled by various legal and regulatory considerations as well as internal security and risk policies.

MDM is ultimately a program of work involving an assessment of business needs, a data sourcing strategy, a data cleansing strategy to address quality, an architecture and integration initiative, data documentation and classification, as well as an organizational evolution for data governance and ownership.

This report provides a checklist for CIOs and chief data officers on best practices in MDM for a big data world.

 

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