Enterprise Data Asset and Information Services Knowledge Capture.
Business, Technical, and Statistical Data Collaboration.
Search and Discover Enterprise Data and Information Assets.
Consistent Data Asset Reference for Consensual Decision Making.
Recent customer privacy legislations have mandated that businesses be fully acquainted with the data they capture and use in conducting operations their organization. Businesses are required to be aware of the data in their possession, and be able justify the purposes for which it was acquired, retained, and utilized.
They need to ensure necessary controls are in place to manage how, where, when, and by whom the data is used in conducting business operations. Organization’s failing to comply with the requirement are susceptible to significant financial penalties, and potential legislative proceedings.
Financial and regulatory reporting expects a transparent information supply chain capable of being vetted from the sourcing of transactional data, through to processing of intermediary calculations, and storage of the results prior to being reported.
The expansive growth in the varieties and volumes of data generated and captured within a modern business environment has increased the complexity of assuring compliance with financial, legal, and regulatory reporting mandates. The data management has extended beyond the traditional IT managed databases. The modern business data environment extends to include dynamic No-SQL databases, self-serve data lakes, and big data repositories.
Transitioning from centralized to decentralized data processing operations has increased the risks businesses are exposed to with respect to managing sensitive data.
Metadata management provides a means for businesses to mitigate against data management related risks. It allows to trace and govern provides business data supply chains. This is achieved through tagging and classifying the data upon its initial occurrence, and tracking it over the duration of its life-time within the organization. Enabling data stewards to ensure organizational compliance with privacy, legal, and regulatory data management and reporting obligations.
Metadata technologies are able to automatically source metadata from data storage and data processing technologies such as databases and ETL tools and store it within its repository. The harvested data is automatically correlated, generating a data lineage of the data movement between data stores, data processing applications, and reporting environments. Allowing internal data stewards and external auditors to understand where, when, how, and by whom business data is handled, processed, and accessed over its life-time in the organization.
The automatically captured metadata content can be further enriched by business stewards. They’re able to interactively elaborate the recorded information with their own expertise. Providing further context with respect to privacy, confidentiality, and important criteria with respect to the data resource. As a result, the metadata repository becomes the holistic enterprise wide reference upon corporate data.
Introducing metadata capabilities into an organization improves operational efficiencies through reducing costs and accelerating delivery of information systems. It provides business stewards and technology custodians with capabilities to verify the availability of data resources across the organization. Avoiding data redundancies, and the data management complexities that go along with it.
It allows data consumers to easily identify enterprise master data and other forms of standardized corporate reference data. Preventing the burden of having to reconcile inconsistently sourced core reference data in the delivery of integrated applications. Additionally it allows to evaluate the integrity and quality of the data by referencing the calculated statistical metrics stored about the data within the metadata repository.
Metadata management solutions can be utilized in countering business risks experienced as a result of loss of knowledge when experienced employees leave the organization. Their departure can result in delayed, less reliable decisions, introducing significant risk each time an ill-informed judgement call is made. Capturing human corporate knowledge within the metadata repository ensures it’s readily available for future decision making needs.