Episode Title : Deep Dive on Data strategy, Data management, Data Governance with Jay Zaidi
Episode Summary: Any digital transformation requires a strong focus on data strategy and data management. Jay lays out a blueprint on how to engage in a data management initiative starting with a data maturity assessment. The episode covers key success factors for a data management initiative and goes over why most data initiatives fail.
AlyData overview (01:32): AlyData is a boutique strategic data management and advisory services company with focus data management, data governance & analytics. Most of the advisory work is in maturity assessment for data strategy, setting up data governance of excellence, and ensuring compliance.
How data initiatives start in organizations? (03:15): Organizations engage in data-driven initiatives when (1) they have a pressing challenge or a mandate to meet (2) they have a complex data ecosystem/data debt in the form of data quality, lack of master/reference data/data governance etc. (3) they have a major digital organization that relies on data.
Main causes of failures of data initiatives (10:52): (1) Lack of a change management in parallel with the digital transformation (2) Lack of clear alignment with stakeholders (business & technical) with respect to ROI (3) Lack of a data culture starting at the top (4) Lack of a strong execution focus.
Drive to start a data advisory company, AlyData (21:36): Jay worked at Fannie Mae for 13 years and the last 5 years from 2008 to 2013 as the point person for Fannie Mae’s data initiatives. After the 2009 crash, Fannie Mae was designated as too big to fail and tasked with fixing 6 key compliance areas. Jay’s experience as the point man helped him gain valuable experience but also identified the need for similar effort within the industry. That led him to start AlyData.
Typical data management journey (23:31): Typically, the journey starts with a data maturity assessment. The assessment identifies key areas for organizations to focus on with respect to data quality, data governance, data architecture, business intelligence etc. Then the key task is ensuring that key business stakeholders are aligned to business outcomes and putting together a change management structure along with program/project management.
Resources mentioned in this episode:
AlyData.Com
Call To Action:
Connect with Jay Zaidi: https://www.linkedin.com/in/javedzaidi/
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