Key takeaways:
- Determine the most valuable data set to ensure successful adoption of a data catalog.
- Renee Langeness at Principal Financial Group created two paths for managing their data catalog: an offensive data strategy to enable people to have access to quality data and a defensive strategy to protect the data.
- Establish a formal governance policy and an organized domain-based structure before the technology part of managing a data catalog.
- Use data quality tools to connect data and metadata from different systems to create an accurate enterprise-wide catalog.
Establishing a data catalog can provide a centralized inventory of an organization’s data assets, which is crucial for elevating data governance. However, data strategy leaders face multiple challenges in selecting the right catalog, such as considering the life cycle and ensuring the accuracy of data points for enterprise-wide use.
In a recent Enterprise Data Strategy Board panel discussion, data leaders from Principal Financial Group, American Express, and Envestnet shared their insights on selecting the most accurate catalog to advance data strategies and best practices for its implementation.
Implementing your catalog from creation to adoption
Lisa Novier, Head of Governance, Risk, and Compliance of Data Analytics at Envestnet, has used various methods to set up data catalogs across organizations. She noted how the starting point for many companies is identifying the most valuable data set, often related to customer data.
Her team at Envestnet used the newest data and highest value points to start their journey.
“It’s a great place to start, but adoption is really the critical piece,” Lisa said. “If you’re not starting with what is of the highest value to the organization, then the adoption is going to be a little bit slower.”
She said there’s often a rush to begin before launching the catalog. However, it’s crucial to establish accountability and organize the data domains first.
“Before you can start with the catalog, you have to have your accountability model,” Lisa added. “You have to understand how you’re going to organize your data. The data domains are critically important to how you set up your accountability model.”
Hydrating the catalog, or working with specific areas of the business, should only begin after understanding how accountability intersects with the data domains. Success depends on comprehending this intersection before the catalog’s creation or curation.
“If you’re not starting with what is of the highest value to the organization, then the adoption is going to be a little bit slower.”
– Lisa Novier, Head of Governance, Risk, and Compliance of Data Analytics at Envestnet
Managing your catalog for accuracy
Renee Langeness, Director of Data Governance at Principal Financial Group, talked about how her team created two paths to manage their data catalog to ensure the most accurate information was used at their organization.
“We have one path where we’re focusing on the offensive data strategy and what we need to enable people to have access to quality data,” Renee said. “We’re looking at our modern platforms to build out that view of our data catalog to get it in people’s hands to maximize the value of our strategic initiatives.”
The other approach her team took was for a defensive strategy to protect their data. She said her team looked at the minimum action items needed to manage any risks to their data.
“We’re using the same technology solution right now, which may diverge at some point,” Renee said. “But we haven’t taken a deep look at all of the different data catalog solutions, because there’s different things that will drive you depending on whether you have an offensive strategy or a defensive strategy.”
“We’re looking at our modern platforms to build out that view of our data catalog to get it in people’s hands to maximize the value of our strategic initiatives.”
– Renee Langeness, Director of Data Governance at Principal Financial Group
Organizing a domain-based structure can help improve your data catalog accuracy
Scott Zinn, Vice President, Enterprise Data Governance at American Express, emphasized the importance of accountability and an organized domain-based structure before the technology part of managing a data catalog.
He suggested allowing data management members to maintain their metadata and catalog, but also said establishing a formal governance policy is key.
“We govern where we know we’ll have more of that formalized accountability and discipline to it,” Scott said. “Have that flow in and do it in a way that’s flexible and allows business units to maintain their glossaries. But feed it in a way where we can start to paint an enterprise glossary.”
He mentioned the complexity of integrating different database types and the need to build to make the process easier. Scott noted the value of data quality tools to connect data and metadata from different systems to create an accurate enterprise-wide catalog.
“The whole value of these tools, again, whether you procure it or build it, is that it can pull the data and the metadata in from these systems,” Scott said “But only if that value comes to life can you actually make that connection. And when you have non-relational database types, and you have a slew of different types within that, we have found that we’ve had to do some builds to make that kind of activity easier.”
“The whole value of these tools, again, whether you procure it or build it, is that it can pull the data and the metadata in from these systems.”
Scott Zinn, Vice President, Enterprise Data Governance at American Express
Gain actionable peer insights from senior data leaders to ensure you select the best data catalog in your company
Lisa, Renee, and Scott shared more on selecting efficient data catalogs during the Enterprise Data Strategy Board panel discussion.
They also gave insights on assigning accountability for data quality, building a data governance council for long-term success, selling governance as a value proposition, and more steps to elevate data governance at a large organization.
Enterprise Data Strategy Board members meet weekly to benchmark their strategies and have access to peer insights to help advance their initiatives in our confidential, vendor-free community.
If you lead data governance, management, and analytics at a billion-dollar company, you can apply to join your peers in our community to learn how to elevate data governance and establish successful data catalogs.
