Business partnering between Finance and Data Management through driver-based modeling and data lineage.

In this article I would like to talk about one possible area where cooperation between FP&A and Data management professionals can deliver mutually beneficial results. This area combines two independent concepts from FP&A and Data Management: driver-based modeling and data lineage...

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Scope your data management initiative by using Critical Data Elements

Recently, the concept of critical data has caught the attention of a lot of data management professionals. I myself was no exception, so I decided to dive deeper into this subject and do some research. In this article, I would like to share some results of my research and my experience with definitions of critical data and critical data elements (CDEs), reasons to use CDEs and key...

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Data lineage 105: Implementation guidelines

If by now you have decided that you and your company are ready to continue this journey and start the implementation of data lineage, let’s draft the key steps you need to take.Before we start, it is worth mentioning that an established data management framework and collaboration between data management professionals and stakeholders are a prerequisite for successful...

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Data Lineage 104: Documenting data lineage

In this article, I would like to discuss and give my answer to the most complicated question: how should data lineage be documented? Before you even start thinking about documenting data lineage, there are a few crucial decisions to be made beforehand? What is the scope of data lineage in your situation?What method of documentation will you choose...

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Data Lineage 103: Legislative requirements

Let's take a look at the requirements from the viewpoint of legislation.BSBC239 (PERDARR) and GDPR as key legislative triggers for data lineageAs an example, we will take requirements of the Basel Committee on Banking Supervision's standard number 239 “Principles for effective risk data aggregation and risk reporting” (BCBS239 or PERDARR)1and the EU General Data Protection Regulation (GDPR)2...

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Data Lineage 102: Definition and key components

Nowadays, when someone starts talking to me about data lineage, the first question I ask is: ‘what do you mean by “data lineage”’? What is your understanding of data lineage? Believe it or not, but so far, I haven’t met a person whose definition and understanding of data lineage has perfectly corresponded with mine, or others that I have encountered over the years. The reason for that is that you...

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Data Lineage 101: What’s so special about data lineage?

During the past few years, I have noticed a quick growth of interest towards data lineage. Data lineage has become a hot topic in the data management community. Being deeply involved in practical implementation of data lineage for the past two years, I would like to share my knowledge and experience with you...

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What does data management have in common with… an orange?

The analogy of an orange and data management (DM) models came to my mind when I was writing about my analysis of well-known data management metamodels and different maturity models of data management. The orange symbolized my attempts to...

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Data Management maturity models: a comparative analysis.

In data management (DM), we have a plenty of data management maturity models, the most well-known are: DAMA-DMBOK, DCAM, CMMI CERT-RMM (Data Management Maturity Model) by CMMI, and a few others. When I look at all of these models...

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FP&A partnering: 7 Tips for better communication with your business partners

FP&A needs to increase its value for the business and the way to do it is through of business partnering. In this article, I would rather like to address a few practical challenges, the following two in particular: who are FP&A business partners, and how we, FP&A professionals...

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How to ‘sell’ your FP&A value proposition successfully

Why does a company need FP&A, and what value does it bring to the business? I will discuss some insights which I have gained from looking at it from the perspective of the business canvas model, primarily used in Business Architecture...

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Exploring data management metamodels: DAMA-DMBOK 2 vs DCAM

If you are going to implement the data management function, your first step is to look at existing industry reference guides. Your first choice will definitely be the DAMA-DMBOK Guide by...

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FP&A from Einstein’s perspective

...or thoughts on the optimization of the FP&A value proposition. Imagine you have 3 minutes to explain to a six year old what FP&A is and what  place it takes in a business ecosystem. Tough, isn’t it? Once I came up with an analogy of...

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Let’s build an FP&A team!

The role of FP&A in business has changed drastically during the past few years. ‘Strategic advisor’, ‘change agent’, ‘business partner’ : these terms are very characteristic for the new trends that are arising in the world of FP&A. The subject of building an effective...

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What keeps CFOs awake at night?

Nowadays a lot of concerns in business environment are focused around data. There are several drivers for that, such as regulations (e.g. GDPR), the growing amount of data, new technologies in data processing and analysis etc.

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‘Brevity is the soul of wit’: DAMA-DMBOK in a nutshell

During a meeting a few days ago, I have received a challenging request: explain in 15 minutes how you can implement data management using the well-known Data Management Body of Knowledge (DAMA-DMBOK2)...

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5 GDPR tips for small business owners

‘If your company is ready for GDPR (General Data Protection Regulation), please raise your hand’: the chairman asked the participants of the GDPR congress organized by Heliview. Guess how many people raised their hands?  Right, no one...

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Data-driven FP&A: the tip of the iceberg.

Part 3 of the 'FP&A and the three-headed serpent' series. The data you deal with, is the tip of the iceberg. The major part of data processing is the part that is hidden beneath the water. And this is also the place of origin of all the data quality issues. You do not have...

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Why should FP&A be data-driven?

Part 2 of the 'FP&A and the three-headed serpent' series. There are three main challenges that FP&A currently dealing with. Data is the first component and is the blood of the whole process. Nowadays, everyone is talking about...

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FP&A and the three-headed serpent: The power dilemma.

Part 1 of the 'FP&A and the three-headed serpent' series. How far can you go with improving your FP&A practices? Recently, I have encountered a paper by Prophix where the authors are...

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New vision on Data lineage/ flow in DAMA DM-BOK 2.

...and how it relates to BCBS 239 and GDPR requirements.   What unites Data lineage, BCBS 239 and GDPR? Data lineage has become a hot topic in the data management

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‘Let’s speak the same language…’

‘Let’s speak the same language’, was once said at the Amsterdam FP&A Board. Do you know what your FP&A Colleagues meant with this expression? And do you also find it

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FP&A: Advanced analytics & Software solutions

Once in a while I spot interesting discussions on Advanced Analytics and FP&A, online and among my colleagues. And each time I keep wondering: “How can I apply it? Which

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Making sense of Data-related roles

What are Data-related roles? If you do a search on Google, you will most probably get a long list of roles, such as Creator, Consumer, User, Owner, Steward, Collector, Analyser

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FP&A: What data do I own?

A couple of weeks ago I joined the meeting of the Amsterdam FP&A Board where we discussed the subject of the FP&A analytical transformation. In the course of the meeting

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BCBS 239: Data Lineage or Information Value Chain?

If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for

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FP&A: Maturity model and Data management.

As promised in one of my previous articles, let us go deeper into the relationship between FP&A and Data management (DM) and see how Data management enriches your FP&A role

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Lessons learned: Data management and the Three Lines of Defense concept (3LOD)

Several months ago I got a task to investigate how to position Data management function in relation to the Three Lines of Defense .My first reading was the article 'Data

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FP&A: everything twists around data

...or Why all FP&A Roads go to Data management.Even if for the last six years I have been specialising in Data management, I still follow (thanks to the FP&A club)

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How mature is Data Management in your company?

The question looks simple. To promote an idea of data management (DM) development the following questions about DM maturity are to be answered: what is the current level?what is the target

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Am I a successful Data Manager?

We, data management professionals, are lucky. There are plenty of well-developed international standards in place, like COBIT, TOGAF, and of course DAMA-DMBOK. Internet provides numerous articles and endless advice on the subjects.

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