This year I will be joining FIMA: Europe’s Premier Financial Reference Data Management Conference for Data Management Professionals. The conference is held in London from 8th to 10th November.
I will present “Diversities In Using External Registries In A Globalised World” and take part in the panel discussion “Overcoming Key Challenges In Managing Client On-Boarding Data: Opportunities & Efficiency Ideas”.
As said in the panel discussion introduction: The industry clearly needs to normalise (or is it normalize?) regional differences and establish global standards.
The concept of using external reference data in order to improve data quality within master data management has been a favorite topic of mine for long.
I’m not saying that external reference data is a single source of truth. Clearly external reference data may have data quality issues as exemplified in my previous blog post called Troubled Bridge Over Water.
However I think there is a clear trend in encompassing external sources, increasingly found in the cloud, to make a shortcut in keeping up with data quality. I call this Data Quality 3.0.
The Achilles Heel though has always been how to smoothly integrate external data into data entry functionality and other data capture processes and not to forget, how to ensure ongoing maintenance in order to avoid else inevitable erosion of data quality.
Lately I have worked with a concept called instant Data Quality. The idea is to make simple yet powerful functionality that helps with hooking up with many external sources at the same time when on-boarding clients and making continuous maintenance possible.
I’m looking forward to present and discuss these challenges and getting a lot of feedback.