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Data Management Strategies

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Data management strategies for businesses to focus on developing their data quality.

Publicada em: Negócios, Tecnologia
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Data Management Strategies

  1. 1. Data management strategies Presented by: Micheal Axelsen Director Applied Insight Pty Ltd
  2. 2. INTRODUCTION
  3. 3. About this presentation
  4. 4. Agenda
  5. 5. DATA MANAGEMENT AND ACCOUNTANTS
  6. 6. Accounting compliance requirements <ul><li>The international accounting standards are strangely silent on specific issues relating to data management </li></ul><ul><li>ISA315 has the most to say about computing: </li></ul><ul><ul><li>The auditor shall obtain an understanding of the information system, including the related business processes, relevant to financial reporting, including the following areas: </li></ul></ul><ul><ul><ul><li>The classes of transactions in the entity’s operations that are significant to the financial statements; </li></ul></ul></ul><ul><ul><ul><li>The procedures, within both information technology (IT) and manual systems, by which those transactions are initiated, recorded, processed, corrected as necessary, transferred to the general ledger and reported in the financial statements; </li></ul></ul></ul><ul><ul><ul><li>The related accounting records, supporting information and specific accounts in the financial statements that are used to initiate, record, process and report transactions; this includes the correction of incorrect information and how information is transferred to the general ledger. The records may be in either manual or electronic form; </li></ul></ul></ul><ul><ul><ul><li>How the information system captures events and conditions, other than transactions, that are significant to the financial statements; </li></ul></ul></ul><ul><ul><ul><li>The financial reporting process used to prepare the entity’s financial statements, including significant accounting estimates and disclosures; and </li></ul></ul></ul><ul><ul><ul><li>Controls surrounding journal entries, including non-standard journal entries used to record non-recurring, unusual transactions or adjustments. </li></ul></ul></ul>
  7. 7. Tales from the data vault Image from Flickr User markscott .  Some Rights Reserved . Image from Flickr User www.flickr.com/justplainhope.  Some Rights Reserved . Image from Flickr User stargazer95050 .  Some Rights Reserved . Image from Flickr User krysten_n .  Some Rights Reserved . Image from Flickr User Phil Strahl .  Some Rights Reserved .
  8. 8. Definitions <ul><li>Definitions </li></ul><ul><li>Data Quality measures the data’s fitness for the intended use in operations, decision making & planning </li></ul><ul><li>Governance is a set of accountabilities, processes, and auditable and measurable controls that ensure the business is on track to achieve its objectives </li></ul><ul><li>Data Governance is a set of accountabilities, processes, and auditable and measurable controls to ensure the business is on track to achieve its data quality objectives </li></ul><ul><li>Data Quality Frameworks provide structure to data quality activities and allow assessment of data quality </li></ul>
  9. 9. Data assurance
  10. 10. The reasons why <ul><li>Compliance frameworks </li></ul><ul><li>Control Objectives for IT (COBIT) </li></ul><ul><li>Sarbanes-Oxley </li></ul><ul><li>ASX Principles (risk, value) </li></ul><ul><li>National Privacy Principles </li></ul><ul><li>AS8015-2005 (and ISO/IEC 38500) </li></ul><ul><li>Good IT governance is good for bottom line </li></ul><ul><li>MIT research shows that companies with better than average IT governance earn at least a 20 percent higher return on assets than organizations with weaker governance (Weill/Ross 2004) </li></ul><ul><li>For accountants, the most relevant and global standard to adopt is the Control Objectives for Information Technology standard, which is published by the IT Governance Institute </li></ul>
  11. 11. Accountants and spreadsheets <ul><li>Spreadsheets are a great deal of the corporate data that we have </li></ul><ul><li>It’s not ‘just a spreadsheet’ </li></ul><ul><li>The spreadsheet should have internal controls and methods of validation as well – it is still a system and needs appropriate controls, checks and balances </li></ul><ul><li>Where the spreadsheet uses data from other systems, understand where that data has come from, and its security, its integrity, its effectiveness and its efficiency </li></ul>
  12. 12. CONCLUSION ALIGNING EFFORT AND NEED
  13. 13. Do what the business needs
  14. 14. Corporate governance and data
  15. 15. Governance groups
  16. 16. Integrating IT plans into business strategy
  17. 17. A business decision
  18. 18. CONCLUSION DATA GOVERNANCE STRATEGY
  19. 19. Improving data quality <ul><li>Creating active strategies </li></ul><ul><li>It is naive to think that data quality can be improved in a ‘Great Leap Forward’ on all fronts and all at once </li></ul><ul><li>To be sustainable, data quality must meet the cost/benefit test, and be important to the business </li></ul><ul><li>A data governance strategy grows organisational capability by implementing a data quality ‘floor’ for all data and focussing the most resources upon the most critical data </li></ul><ul><li>This creates less business risk, higher quality, and lower costs than a ‘big bang’ approach </li></ul>
  20. 20. Practical strategies <ul><li>Owned by the business, not ‘IT’ </li></ul><ul><li>Set core standards for all data, and focus resources on the development of data governance approaches for absolutely critical data first. </li></ul><ul><li>Do not develop over-engineered solutions for the entire organisation’s data at first. </li></ul><ul><li>Slow-burn strategies that deliver beat fast-burning failures every time </li></ul><ul><li>Build the strategic rhythm of monthly & quarterly reviews </li></ul><ul><li>Set quarterly deliverables in the program of works for ease of monitoring </li></ul><ul><li>An active strategy is a practical strategy </li></ul>
  21. 21. Strategy for delivering data governance
  22. 22. THE PROGRAM OF WORKS
  23. 23. Maturity through growth COBIT Maturity Model Level Description 0 Non-existent 1 Ad hoc 2 Repeatable but intuitive 3 Defined process 4 Managed and measurable 5 Optimised
  24. 24. Objectives of data quality COBIT: DS11 Manage Data Process Description DS11.1 Business Requirements for Data Management DS11.2 Storage and Retention Arrangements DS11.3 Media Library Management System DS11.4 Disposal DS11.5 Backup and Restoration DS11.6 Security Requirements for Data Management
  25. 25. Improving the data quality framework
  26. 26. Invest in security according to your needs
  27. 27. DATA QUALITY POLICY FRAMEWORK
  28. 28. Data management lifecycle
  29. 29. Data quality policy framework
  30. 30. CONCLUSION
  31. 31. Conclusion <ul><li>More information </li></ul><ul><li>www.cpaaustralia.com.au </li></ul><ul><li>www.isaca.org </li></ul><ul><li>www.itgi.org </li></ul><ul><li>Speaking Notes </li></ul><ul><li>Speaking notes for this presentation may be downloaded from www.appliedinsight.com.au </li></ul><ul><li>Questions and answers </li></ul><ul><li>Questions from the audience </li></ul>
  32. 32. CONTACT DETAILS Micheal Axelsen Director, Applied Insight Pty Ltd m: 0412 526 375 t: +61 7 3139 0325 e: [email_address] web: www.appliedinsight.com.au Applied Insight Pty Ltd PO Box 603 Toowong DC 4066 AUSTRALIA
  33. 33. References <ul><li>Gillies, C, and Broadbent M. IT Governance: A Practical Guide for Company Directors and Business Executives. CPA Australia. 2005. </li></ul><ul><li>IT Governance Institute. Board Briefing on IT Governance (Second Edition). Rolling Meadows, Illinois. 2003. </li></ul><ul><li>IT Governance Institute. COBIT 4.1. Rolling Meadows, Illinois. 2007. </li></ul><ul><li>Standards Australia. AS8015-2005 Corporate Governance of ICT. Standards Australia. 2005 </li></ul><ul><li>Weill, P., and Ross, J. W. “IT Governance: How Top Performers Manage IT Decisions Right for Superior Results”. Harvard Business School Press. 2004. </li></ul>
  34. 34. About the speaker <ul><li>Services </li></ul><ul><li>Micheal Axelsen provides business systems consulting services in the governance of information technology, and development and implementation of IT business strategy </li></ul><ul><li>Position and qualifications </li></ul><ul><li>Director, Applied Insight Pty Ltd </li></ul><ul><li>Chair, CPA Australia IT & Management Centre of Excellence </li></ul><ul><li>Member of ISACA </li></ul><ul><li>Qualifications </li></ul><ul><ul><li>Bachelor of Commerce (Hons) </li></ul></ul><ul><ul><li>Masters of Information Systems </li></ul></ul><ul><ul><li>FCPA </li></ul></ul>

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