In 2008 we saw many events that spoke to the need for greater transparency regarding financial institutions and markets. Bear Sterns, AIG, Lehman, Madoff…need we list more?
Given previously implemented regulations such as Sarbanes Oxley and Basel II…and still there were issues…what will 2009 bring? In short, what can we do with regulation that will stop corruption and lack of knowledge? This is a debate I’m not about to initiate.
For more expert opinion on 2009 you can navigate to the podcast by BriefingDirect’s Dana Gardner. Please join noted IT industry analysts and experts Jim Kobielus, senior analyst at Forrester Research; Tony Baer, senior analyst at Ovum; Brad Shimmin, principal analyst at Current Analysis; Joe McKendrick, independent analyst and prolific blogger; Dave Linthicum, founder of Linthicum Group; Mike Meehan, senior analyst at Current Analysis, and JP Morgenthal, senior analyst at Burton Group.
My interest is in what changes these events may result in for (hopefully improved) Data Management. I need to stay focused on my area of expertise and what it means to readers of this blog. I have no misguided illusion of my ability to fix the overall problem. I’ll let the ‘experts’ handle that. For the record I agree with Oscar Rodgers of Saturday Night Live (about 2/3rds through the Weekend Update) in his “Fix It!” video. If you are at the office turn down the volume! The problem may not be IT caused but you can be sure the steps will be the same:
- Fix
- IT
- Fix It!
Regardless of how much further visibility will aid in exposing or preventing future occurences, management will be under pressure in 2009 to implement more controls. In fact more controls, as relates to MDM or Reference Data Management, can provide better capabilities for governance. The technologies and processes exist for greater consistency and visibility. However, their enforceability and stewardship are not implicit in having implemented an IT or Data Governance program.
In summary, look for 2009 to be a lot more talk in the area of transparency, governance and stewardship of data assets. How much of that results in implemented solutions we’ll have to wait until 2010 to see.
Welcome to 2009! And in case you wondered, yes, I am repeating the year (2009) quite often in this article so that I can get used to writing it. The best to all of you in this new year.
