AFTAs 2017: Best Data Management Initiative—Deutsche Bank
Since its launch two-and-a-half years ago, 7,800 data issues have been registered; 4,900 data issues have been consolidated; 1,100 data issues have been resolved; and 1,800 issues remain open and visible, each with a descriptive business case allowing prioritization for remediation.
![2017 AFTAs](/sites/default/files/styles/landscape_750_463/public/2018-01/18.%20Deutsche%20Bank.jpg.webp?itok=dSGnAVTl)
DQ stands for “Data Quality” and that’s what this initiative is all about—a project aimed at creating a common language to describe data problems in order to improve the firm’s data on a global basis. “It creates a common platform as a catalyst to allow people to collaborate and talk in a common language—that’s the number one thing,” says James White, director of Deutsche Bank’s Data Quality Management unit, which is overseeing this project. “It takes disparate problems and issues and creates something that’s joined,” he says.
While 2016 was more about proving the worth of the project and setting the strategy, 2017 was about rolling out DQ Direct globally. This initiative—and the underlying platform—aims to improve data quality by transforming the way that the bank’s 100,000 employees think, feel and act toward its data. As such, there are six steps involved in this change of culture. First, there’s initial training as to the “whats and whys”. Then they identify a DQ Direct “champion”. From there, they gain feedback regarding the quality of issues loaded into the tool. Next, there’s a presentation of management information. After that, they confirm that all known and well-formed data quality issues are loaded into DQ Direct. And, finally, there’s a presentation of data quality issues to the data governance council.
Over the last 12 months, Deutsche Bank has completed the six steps across 56 of its 59 coverage areas—which is not a legal designation, but rather a way that the bank views its various operations, from business areas, products, processes to regions and key projects.
Since its launch two-and-a-half years ago, 7,800 data issues have been registered; 4,900 data issues have been consolidated; 1,100 data issues have been resolved; and 1,800 issues remain open and visible, each with a descriptive business case allowing prioritization for remediation.
For 2018, the bank will finish rolling out DQ Direct to the other three outstanding coverage areas. Beyond that, the Data Quality Management team will look to develop a way to better measure performance versus expectations so they can better show the impact of the project, directly, and so that people can “tell a story” about the data issues they encounter.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Waters Rankings 2024: All the winners
WatersTechnology readers voted to determine the winners in 35 technology and data categories comprising this year’s virtual Waters Rankings.
Waters Rankings 2024: Best reference data provider—Association of National Numbering Agencies (ANNA)
Product/service: ANNA Service Bureau (ASB)
Waters Rankings 2024: Best corporate actions solution provider—SIX
Product/service: Global Corporate Actions service
Waters Rankings 2024: Best cybersecurity provider—AI Risk
Product/service: AIR-GPT platform
Waters Rankings 2024: Best transaction-cost analysis (TCA) system provider (highly commended)—S&P Global Market Intelligence
S&P Global Market Intelligence’s Transaction Cost Analysis tool is highly commended in the best transaction-cost analysis (TCA) system provider category of the 2024 Waters Rankings.
Waters Rankings 2024: Best reporting system provider—S&P Global Market Intelligence Cappitech
Product/service: Cappitech
Waters Rankings 2024: Best trading floor communication system provider—Cloud9
Cloud9 wins the best trading floor communication system provider category in the 2024 Waters Rankings.