Inflation is on everyone’s minds, with consumer prices soaring by 7.9% versus a year ago, according to the most recent consumer price index (CPI), released March 10. While the mounting cost of raw materials may not be the culprit, enterprises are simultaneously watching the cost of data starting to rise as well. What do I […]
What Insurers Need to Know About the Risks of AI and Machine Learning
Artificial intelligence (AI) and machine learning (ML) are continuing to transform the insurance industry. Many companies are already using it to assess underwriting risk, determine pricing, and evaluate claims. But if the proper guardrails and governance are not put into place early, insurers could face legal, regulatory, reputational, operational, and strategic consequences down the road. […]
5 Ways Data Leaders Can Improve Data Reliability
Businesses today collect and store an astonishing amount of data. According to estimates from IDC, 163 zettabytes of data will have been created worldwide by 2025. However, this data is not always useful to business leaders until it is organized to be of higher quality and reliability. Despite its importance to effective data analysis, most business leaders […]
The Impact of Data Governance in Cybersecurity
Data is a critical asset that supports operations, drives decision-making, and gives businesses a competitive advantage in the marketplace. Unfortunately, today’s data can also be easily targeted by cybercriminals looking to access and tamper with sensitive information. This is why cybersecurity is increasingly becoming a top strategic priority for enterprises of all sizes. As concerns of cyberattacks […]
Empower Your Third Line of Defense for Effective Data Governance
Data Governance practitioners must incorporate all aspects that bind data to the organization. Internal audit, referred to as the third line of defense against risk, should actually be top of mind for implementing effective governance programs. The “Three Lines of Defense” model is an industry-recognized approach to enterprise risk management. The ultimate goal is to […]
Evaluating Data Lakes vs. Data Warehouses
While data lakes and data warehouses are both important Data Management tools, they serve very different purposes. If you’re trying to determine whether you need a data lake, a data warehouse, or possibly even both, you’ll want to understand the functionality of each tool and their differences. This article will highlight the differences between each and how […]
What Data Practitioners Need to Know (and Do) About Common Language
“Unless and until all members of a team have a common understanding of the problem, attempts to solve the problem are just so much wasted energy.” –Gerald M. Weinberg [1] In March 2019, one of us (Thomas C. Redman) served as the judge in a mock trial of a data architect (played by Laura Sebastian Coleman) […]
How to Prepare Data for AI and ML
Regardless of how clever the machine or how brilliant the algorithm, the success of intelligence-based solutions is intrinsically tied to the quality of the data that goes in. That’s why, aside from its people, data is the most important thing an organization owns. Data must be the first stop on the journey to implementing artificial […]
When It Comes to Data Quality, Businesses Get Out What They Put In
Imagine you’ve invited your boss over for a dinner party to try to show off your culinary skills (and perhaps get a promotion). The stakes are high, so you search the web and find the most revered chicken parmesan recipe around. At the grocery store, it is immediately clear that some ingredients are much more […]
Make the Journey to the Data Intelligence Promised Land, Securely
To take your organizations to the next level, C-level executives are faced with the compelling need to make sense of your data, generate data intelligence, and create a higher-level understanding of your customers and your business. The only way to get there is to combine your distributed data sets into a consolidated, holistic view of […]