Recent years of disruption caused by the Covid pandemic, Russia-Ukraine war and climate change have accelerated the journey to data digitalisation and making better data-driven decisions – but what are the key steps along the way and how can firms use disruption as an opportunity to reimagine their data?
Philip Dutton, co-founder and co-CEO at Solidatus, addressed the question at A-Team Group’s recent Data Management Summit London, where he presented a keynote on how a data blueprint can deliver knowledge and context for better decisions. He set the scene noting that while firms cannot control external disruptive factors, they can move forward internally to resolve data problems upfront, rather than fixing them after the event.
Describing a blueprint for an onward data journey, Dutton suggested firms should consider where they are, the future state they want to achieve, and the roadways to get to there, the destination often being the ability to solve very complex data problems and make better decisions in context.
The Solidatus data blueprint includes data fabric and visualisation, and was designed with time in mind to allow scenario planning and provide required evidence to the business. Dutton explained: “It’s about building an end-to-end holistic model of the organisation that is built for purpose. Data points are collected from across the organisation, including people, regulations, processes and apps, and linked together to provide actionable insights. This is about connecting data points, not databases and fields.”
Use cases of the Solidatus blueprint at a typical bank include managing multi-jurisdictional privacy data requirements during a move to cloud, using data lineage to achieve compliant financial reporting, and tracking portfolio performance to ensure EU ESG disclosure compliance.
Dutton concluded: “By turning the challenges of disruption into opportunity by implementing the Solidatus blueprint, firms can be well into their data journey and making better decisions in days.”
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