In this webinar, financial consultant Norman Wren explains how your data can become a valuable asset to your business, drive competitive advantage, and transform your customer experience – all by leveraging smart technology.
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Strategize a Smooth Tenant-to-tenant Migration and Copilot Takeoff
[Webinar Slides] Data is a Ticking Time Bomb: How to Successfully Defuse it by Leveraging Smart Technology
1. Underwritten by:
#AIIMYour Digital Transformation Begins with
Intelligent Information Management
Data is a Ticking Time Bomb:
How to Successfully Defuse it by Leveraging Smart
Technology
A Case Study on Transforming
Customer Experience in Banking
Presented March 20, 2019
Data is a Ticking Time Bomb:
How to Successfully Defuse it by Leveraging Smart
Technology
A Case Study on Transforming
Customer Experience in Banking
An AIIM Webinar presented March 20, 2019
2. Underwritten by:
Today’s Speakers
Norman Wren
Leading Financial Services Analyst
David Jones
VP of Product Marketing
Nuxeo
Host: Theresa Resek, CIP
Director
AIIM
4. Underwritten by:
Introductions
4
David Jones
§ VP of Product Marketing
§ Nuxeo
§ @InstinctiveDave
2
Norman Wren
§ Former Technical and Operations Director
§ Santander
Digital Transformation
A Reality Check
6. Underwritten by:
Digital
Transformation
in Financial
Services
Massive Spend
Average $42M in 2018
Rising to $45M in 2019
Purpose
66% Customer facing innovations
Success?
88%
Project delayed, reduced scope, or cancelled
26%
Digital Transformation= Insurmountable Task
Statistics courtesy of Couchbase
7. Underwritten by:
“Everyone who hears these words of mine, and doesn't do them will be
like a foolish man, who built his house on the sand. The rain came
down, the floods came, and the winds blew, and beat on that house;
and it fell—and great was its fall.”
— Matthew 7:24–27
9. Underwritten by:
#AIIMYour Digital Transformation Begins with
Intelligent Information Management
Data is a Ticking
Time Bomb
How to Successfully
Defuse it by Leveraging
Smart Technology
–
Norman Wren
10. Underwritten by:
Why is this
important? Customer expectation:
Customer in control
Unlimited data access
Always on 24 x 7
Real time
Added value services
Regulation :
Customer rights
Data portability
Open access to third parties
Remediation of historic practices
Internal driver:
Exploit data assets
11. Underwritten by:
Legacy Data
Challenges
• Fragmented data ; not real time; internal view; unstructured
data; access limited
• Multiple formats; limited documentation; knowledge gap
• Integrity within applications not across; degradation over time
• Security and data leakage
• Obsolescence
• Compliance with regulation
• Cost of Change; time to market ; consolidation of data stores.
• Architecture and technology compatibility
• BAU Running costs
• No scalability; access limitations; poor schema design
Access
Data Quality and
Integrity
Risk
Cost
Performance
12. Underwritten by:
Value:
3 Basic
Requirements Ø Find data
Ø Document attributes and meaning
Ø Understand usage and context
Ø Define architecture
Ø Set usage, access and security rules
Ø Build governance and ownership
Ø Organize around common business purposes
Ø Make accessible through common access layer
Ø Use metadata to organize and add value
Ø Build new capabilities – data driven
Understand the
Data
Manage the Data
Exploit the Data
3
1
2
13. Underwritten by:
Considerations
Archaeology:
Find and document data and
how used
Architecture:
Define data architecture and
principles
Data ECO system:
Distributed data
Define data usage:
Update; query; analytics
Common Layer:
To bridge technologies
Scaleability:
Cloud processing; distributed
data
Ownership:
Governance and accountability
14. Underwritten by:
Key Points
“Data as an Asset” needs:
• Clear ownership and accountability
• Knowledge and documentation metadata
• Clear understanding of usage and value
• Data architects and engineers
• Architectural readiness
• Capability
• Data strategy
15. Underwritten by:
Stick or Twist?
Ø Obsolescence
Ø Security
Ø Maintenance
Ø Cost
Ø Risk
Ø Cost
Ø Risk
Ø Data quality
Ø Integrity
Ø Business case
Ø Less Risk
Ø Unlock assets
Ø Bridge old and new
Ø Create data eco system for the future
Do Nothing
Big Bang
Migration
CO-Existence/
Common Layer
16. Underwritten by:
Summary
• Data knowledge and documentation fundamental
• Hard work and time consuming
• Clear target architecture addressing data
• Technology stack and data usage
• Common layer to separate data from business processing
• Avoid migration if possible
• Avoid pitfall of access in situ
• Define common business purposes
• Build road map
• Balance value, cost and risk
• Invest in capability