Episode Title : To improve data quality, start at the source – Jacklyn Osborne
Very often, organizations focus a lot on data cleansing after the data has been captured. But any incremental effort spent on focusing on data quality at the source will reap long term benefits. In this episode, Jacklyn Osborne, Data Quality Control executive at Bank of America, talks about the importance of data education to frontline employees so they can also be stakeholders of data quality. Jacklyn talked about the role of CDO, skills necessary for CDO, and how CDO can be empowered by where they sit in an organization. With deep expertise in the financial industry, Jacklyn talked about data monetization and treating data as an asset in financial industries.
03:36: Top 3 data challenges; (1) Expanding scope (2) Ill defined CDO role (3) Data democratization
04:49 : Necessary skills for a CDO. Needs to be inquisitive. Ask questions. Problem solving by nature.
06:30: Value of data in financial industry. Is it only because of compliance or is there a data monetization beyond compliance? Yes, there is a value.
09:05: Where should CDO sit in an organization? CDO should sit closest to the business.
11:30 (Headliner): First hand experience of a CDO role moving closer to CEO role. Accountability and ownership will increase and as a result, business believes data work is for them. And Data will be seen as an asset.
14:51 (Headliner) – Advice to financial institutions on data aspects. (1) Start small and scale (2) Align to a use case.
16:32 (Headliner): How do you know what is the right data quality? Starts with data production. Are we producing the right data to start with. And then you set controls in place as data moves along.
19:42 – If the data producers understand the value of the data, they are more inclined to improve the quality of the data at the source.
Resources mentioned in this episode:
Podcast website: https://DataTransformersPodcast.Com
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