ECCMA’s DQS2 Day 1 is now complete.
Speakers of nine different sessions shared their experiences with Big Data and Data Quality. Numerous details were exchanged, but there are some key points stand out in my mind.
The attendees came from around the globe. United Kingdom, Canada, Germany, South Africa, Luxembourg, Brazil and Mexico were well represented. The stories were consistent. Data quality is a challenge around the world. Successful solutions for those challenges focus on value.
Do you have trouble managing data for your business divisions? Do those divisions seem to speak languages of their own? Did you know NATO has 28 members plus a couple dozen more countries which cooperate on humanitarian efforts? That means a few dozen languages with leadership that may not share a single mission statement every day. So how does NATO optimize re-supplies across those millions of material master items? The answer is the widely understood NATO Stock Number which ensures troops get the materials they need regardless of the country placing their order.
Speaking of optimizations based on a need, how about the sophisticated finances of the mortgage industry dependent upon the antiquities of property documents? Why are real estate parcels frequently described using page numbers? When was the last time you wandered to your local court house to pull out a bound book of lot maps? And yet a page number pointing to your lot map probably appears on your deed. MISMO, LEI and eProp efforts are bringing technology into the mortgage industry.
ECCMA Executive Director Peter Benson book-ended the quotes of the day. Peter began the day with “Data Quality must be resolved at the Source of the data.” As the day passed, we realized it takes time and a lot of effort to achieve that resolution. Peter closed the day with “The world runs on data. The world runs better on quality data.” We certainly could not dispute Peter’s closing statement.
Between Peter’s opening and closing remarks, each speaker shared data quality lessons learned … the successes and the failures. Most of our “failures” dealt with professional embarrassments and business financial losses. One presenter spoke of lives lost at least in part because of failures in master data. I hope to never tell that story first hand. To quote Peter Benson, “The world runs on data. The world runs better on quality data.”
I look forward to Day 2.