Blend, cleanse and prepare data for analytics, reporting or data modernization efforts
David Loshin defines reference data and sets up a working definition for his next set of posts.
While managing quality within the four walls of your own operation is all well and good and totally necessary, both the market and your bottom line are demanding a more holistic, quality lifecycle approach, and in support of that aim there is a treasure trove of downstream data waiting to be
Principle 13: Remedial actions and supervisory measures - Supervisors should have and use the appropriate tools and resources to require effective and timely remedial action by a bank to address deficiencies in its risk data aggregation capabilities and risk reporting practices. Supervisors should have the ability to use a range
Having spent a good part of my career “owning” the data hub in IT for analytics solutions, I think I can say, the myth that IT controls all things data has become less and less true through the years – and eventually it will be completely false. Or maybe it
Principle 11: Risk management reports should be distributed to the relevant parties while ensuring confidentiality is maintained. Early in 2013, the Basel Committee on Banking Supervision (BCBS) issued guidelines for banks regarding risk data aggregation and reporting. Known collectively as BCBC 239, these principles were designed to ensure that banks
From managing excess DVD inventory to optimizing digital distribution channels, Hollywood’s supply chain transformation in the last decade has been massive. Knowing this background, and having spent a good part of my life surrounded by the entertainment industry, I was intrigued and inspired by the recent Entertainment Supply Chain Academy
How Internal Communications got into the video business. Everybody loves video. Well, maybe not everybody, but judging by the popularity of YouTube and the ubiquity of Web videos in general, I’d have to conclude that a mighty large chunk of the population loves – or at least likes – it.
Oil companies are being forced to explore in geologically complex and remote areas to exploit more unconventional hydrocarbon deposits. New engineering technology has pushed the envelope of previous upstream experience. No guidebook existed on how computing methodologies can contribute to E&P performance at reduced risk. Until now. A new book
Principle 9: Risk management reports should communicate information in a clear and concise manner. Reports should be easy to understand yet comprehensive enough to facilitate informed decision-making. Reports should include meaningful information tailored to the needs of the recipients. While the data management and data aggregation principles have been heavily
Principle 7: Accuracy - Risk management reports should accurately and precisely convey aggregated risk data and reflect risk in an exact manner. Reports should be reconciled and validated. Successful demonstration of Principle 7 requires senior management to rely upon the information presented in risk reporting. Since forward-looking strategic decisions are
Data federation is a relatively new term used to describe a form of data virtualization. Data virtualization, however, is not new. It has been around since at least the 1960's when virtual memory was introduced to simulate additional memory beyond what was physically available on a machine. While data federation is a
I'm an avid Star Wars fan, and am cautiously optimistic about what J.J. Abrams intends to do in Star Wars VII. The cast for the movie was revealed earlier this week, and today is May the Fourth, an unofficial Star Wars holiday. You might be asking yourself what any of
I led an analytical culture track at the SAS Global Forum Executive Conference last month in Washington, DC. I talked with leaders in fields as diverse as healthcare, chemical manufacturing and government. Although these organizations have very different operating models, their challenges, comments and questions were similar. They all recognized
Principle 4: Completeness – A bank should be able to capture and aggregate all material risk data across the banking group. Data should be available by business line, legal entity, asset type, industry, region and other groupings, as relevant for the risk in question, that permit identifying and reporting risk
In our hyper-connected world, information technology plays a key role in nearly every field and industry. Higher education is no exception, and that’s where EDUCAUSE comes in. This non-profit association works to advance higher education through the use of information technology. One of the primary ways EDUCAUSE achieves its goal
Solving the mystery of Malaysia Airlines Flight 370 hinges on the finding the plane's black boxes, or flight data and cockpit voice recorder. An airplane’s black box is something we hope never has to be used, but when there’s a problem, we sure are glad that it’s there. The black
I’ve been to a fair number of SAS User Group International (SUGI) and SAS Global Forum conferences over the years, but I don’t think I’ve been to one as productive, well-organized and fun as this year’s conference in Washington DC. Part of what made the conference very relevant for many
Principle 3: Accuracy and Integrity – A bank should be able to generate accurate and reliable risk data to meet normal and stress/crisis reporting accuracy requirements. Data should be aggregated on a largely automated basis so as to minimize the probability of errors. It seems logical that banks would want
Principle 2: Data architecture and IT infrastructure – A bank should design, build and maintain data architecture and IT infrastructure which fully supports its risk data aggregation capabilities and risk reporting practices not only in normal times but also during times of stress or crisis, while still meeting the other
Principle 1: Governance – A bank’s risk data aggregation capabilities and risk reporting practices should be subject to strong governance arrangements consistent with other principles and guidance established by the Basel Committee. My colleagues and I have written a series of posts on the principles of BCBS 239. In this
Judging by the headlines like “Big Data Sparks Corporate Turf Fights” and “5 Things CFOs Hate About IT,” you might think that every IT organization is at odds with the company’s business leaders. But let me ask you, does this look like a group of people at odds with one
Interestingly, the Basel Committee’s Principles for Effective Risk Data Aggregation and Risk Reporting (otherwise known as BCBS 239) begins with a quote from T.S. Elliot’s The Rock: Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information? In this age of big
“My goal is to constantly improve the quality and stability of our software while at the same time innovating,” said Vice President of SAS Resarch and Development Armistead Sapp yesterday at the SAS Global Forum Technology Connection. Hosted by Product Management Director Michele Eggers, the Technology Connection focused not only on
Are retailers suffering a skills shortage when it comes to analytics? Nikki Baird from Retail Systems Research (RSR Group) offers some intriguing observations about the critical analytical talent shortage facing the retail industry in a recent article, “Where Have All the Data Scientists Gone? SAS Analyst Day Report Out.” Her observations
With the increasing emphasis on responsiveness, resiliency, flexibility and agility, I suppose it was only a matter of time before the “agile” concept caught up with strategy itself. While I may have hinted at this idea four years ago in two of my earliest posts for the Value Alley, “Strategy
I was recently part of team discussing enterprise architecture with a chief IT architect, and we were explaining how SAS can integrate into their existing infrastructure, add business value on top it and even fit into their future planned infrastructure. This conversation was one of the reasons I blogged about
Dylan Jones says one way to improve data accuracy is to increase the frequency and quality of reality checks.
Acronyms are funny things. Need an example? Try decoding this sentence: How is event stream processing (ESP), applied to electrical submersible pumps (ESP) in the oil and gas industry, like extrasensory perception (ESP)? Even if you had extrasensory perception you would still need some clarification if that sentence contained acronyms only.
Interest in "data" is at an all-time high. The popularity of search terms like "big data," "Hadoop" and the "Internet of Things" spiked dramatically in the past year. The fact is, organizations are more interested in the potential of big data platforms and data management solutions than ever before. That’s
In the movie, The Matrix: Reloaded, our heroes and the KeyMaker frantically navigated from world to world through a series of doors and locks trying to escape the villains. Fortunately for our heroes, the KeyMaker always had the right key on his ring, he just had to know what key
