Themes from the 2009 MDM Summit in NYC

For the third year in a row, I attended the MDM Summit in NYC with teammates from Fitzgerald Analytics and with clients whose interests dovetail with the subject matter at hand. As usual, the event was thought-provoking and at times, even inspiring.

For those of us who are passionate about the challenges, but also the opportunities, in the emergent field of data management, the event reminds us that "the wind is at our back." A mixture of technology trends and business imperatives means Data Management will continue to grow as a field, and the quality of solutions will continue to mature.

This year I was struck by several "highlight themes":

1. Emphasis on doing "first things first," which means for example:
   
   ...doing enough data profiling before data integration...
   
   and
   
   ...establishing viable data governance before rolling out major solutions or change programs...
   
   This realism was positive, and a sign that more "real cases" are leading to more consensus around "preconditions to success" in the MDM realm.
   
   
2. Linking strong Data Management with revenue upside.
   
   John Fleming, Head of Strategy & Governance for Client Data at MERRILL LYNCH, was especially impressive in articulating the connection between better integrated and managed data, and better customer retention, more innovative revenue capture, etc.

Data Management Conference

Together with teammates and clients, I'm about to head uptown for the long-awaited MDM New York Conference. Have attended annually since 2007, and find the event always thought-provoking regarding this critical topic which is becoming a fast-growing but still emergent discipline/function.

Some of the "highlight topics" we expect to be especially resonant:

1. MDM: NOUN OR VERB -- explores the key question "is Master Data Management something you buy or is it a long term commitment?.....
2. MDM in the Health Care Industry -- obviously a hugely important topic with regard to digital medical records
3. Data Governance -- and "oldie but goodie" topic, a perennial, because it's such a "key precondition" to success in data management, so essential to getting ROI on MDM investments

More to come...

Analytics Career Paths: Still a Promising Road...

While many predictions about the impact of the internet on our lives have required "heavy edits" or revisions, this article about careers in analytics seems like it could have been written yesterday. The actual dateline? July 4th 2001. (The article focused especially on web analytics, but the thesis applies more broadly in both online, offline, and hybrid contexts.)

As I mentioned in a comment to the author, at Fitzgerald Analytics we feel as certain in 2007 as she was in 2001 regarding the growing demand for Analytic experience.

For job seekers who share our interest, and confidence, in the continued growth of the analytics career path, take a look at the Analytics Career Path at Fitzgerald Analytics :-). If I can be of further assistance on this topic, don't hesitate to contact me.

Sincerely,

Jaime Fitzgerald
President
Fitzgerald Analytics, Inc.
Visit us at http://www.fitzgerald-analytics.com

Fitzgerald Analytics

Data Governance (Between Organizations)

The rules by which data from one source in integrated into another organization require thought, planning, and governance that goes well beyond what most organizations currently are capable of.

In this interesting post, author and fellow practitioner David Loshin comments further on this issue.

read more | digg story

What If You Hired Only the Best People and Paid Them Like Superstars?

Moneyball tactics (generally speaking, analytics & fact-based decisions in the context of professional sports mgt) help teams improve their Return on Investment (ROI). But the size of the investment itself (including salaries, management....even the analysis itself!) still matters in the equation.

For the rest of our commentary of high-stakes HR decisions, see our new Fitzgerald Analytics Blog on Typepad.

heers,

Jaime Fitzgerald
President
Fitzgerald Analytics, Inc.
Visit us at http://www.fitzgeraldanalytics.com

Fitzgerald Analytics

Top 10 Books on Analytics -- A "Data to Dollars" Starter Library

What books belong on our shelves as we navigate the pathway towards success via analytics? What texts offer practical reference as we design analytic processes to translate data into dollars?

At Fitzgerald Analytics, where are specialty is to help clients make their high-stakes (i.e. strategic) decisions more fact-based, more successful, and more profitable, we are often asked this question. And while books alone are unlikely to inject brand new analytic capabilities into complex, established corporations, I do find that clients who read certain books derive remarkable value from the material.

With this in mind, we have finally decided to "go public" with our "Top 10 List" of books on applied analytics (posted on my Amazon Profile).

Check out the list HERE (on my Amazon Profile)

Of course, this is a generalized list based on the needs of my past and present clients (whom in the past decade have ranged from Banks in the US, Canada, and Singapore to major firms in Health Care, Pharmaceuticals, Publishing/Media, Manufacturing, Retail Services, and Non-Profit sectors). If you'd like a customized list based on your particular interests, don't hesitate to ask...

We hope you like it. For other favorite books, feel free to visit our new Fitzgerald Analytics Book Recommendations page on Amazon.

Reflections on the Master Data Management Conference

As a firm whose "strike zone" involves the translation of raw data into high-impact decisions, the Fitzgerald Analytics Team has long been passionate about the "analytic process." And if you define it broadly enough, the so-called "Analytics Value Chain" does indeed stretch...

1. From the origins of raw data...
2. ...to it's management within established standards, governance, and processes...
3. ...to it's inclusion in core data assets...
4. ...which are used as inputs to analytic platforms...
5. ...upon which analytic tools are built and deployed...
6. ...which are used within business processes...
7. ...to systematically make better, more profitable, decisions :-)

And while step #7 is "where the money is," the chain of causality stretches all the way back to step #1.

With this perspective in mind, our team took time out from client work to attend the CDI-MDM Summit last week, here in New York City. This is the premier conference focused exlusively on Master Data Management and Customer Data Integration, and was worth every penny, minute, and calorie we spent attending.

We will be posting a more extensive summary of takeaways, but at a high level, the event did a great job of showcasing the fact that good data management remains, as it has been for several decade now, the "great precondition." What I mean by that is that since modern business processes are build on information, the management of corporate data as a precious asset is required to enable C-level strategic objectives including:

1. Compliance and Risk Management
2. Agility and responsiveness to change (for example, to pursue new markets, segments, or partnerships)
   
3. Merger integration
4. Marketing ROI
5. Sales Force Effectiveness

...and many other objectives.

For more on analytics and data management, check out our Fitzgerald Analytics book recommendations at Amazon.

Fitzgerald Analytics