This past June, RIMES hosted its third forum in Zurich, regarding Benchmark Data Governance and key findings of Deloitte’s research.
During our lively round-table discussion, attendees discussed the issues of complex data sets and data rationalization. The difficulty for most firms still resides in making data governance a reality: managing the usage, sourcing, duplication, centralization, data quality, and the increasing staff numbers are all areas highlighted by participants as increasingly challenging.
The impact of new regulation looms large on the horizon, with an expectation that key directives could generate the industry a lot of issues which could be costly to fix. At the moment Data Governance is getting higher visibility on many corporate agendas but there was a consensus that firms need to invest heavily in this through 2014 and beyond.