Governance, ownership and pain points. Meeting presentations
Download presentations and live polling results from the NAREIM Data Strategy meeting 2020 here:
During the NAREIM Data Strategy meeting, members were polled on the greatest pain points within their firms relating to data governance, provisioning and usage. The areas scoring highest on the pain monitor were verifying results, manipulating data, populating templates and acquiring information. One issue potentially exacerbating these areas is the fact 70% of NAREIM members do not have data compliance processes in place to ensure the accuracy and consistency of data.
Discussion on the challenges and opportunities of implementing a data governance strategy
Maintaining ongoing maintenance and improvements
Think about data strategy through five key elements – with each stage of the data strategy dealing with:
Enterprise Data Management: Relating to data governance, warehousing and quality management
Information Management: Relating to data architecture and security, privacy, information lifecycle and taxonomy
Business intelligence reporting and analytics: Relating to predictive analytics, patterns and trends as well as information reporting. One key element is to also ensure you understand who is asking for the data and who is accountable for the data; and to conduct due diligence on the usage of the data.
Digital Business Processes. The ability to digitize internal processes, data and begin robotic process automation for standardized reports.
Data Culture: Executive officer buy-in, training and change management and enabling data for enterprise innovation.
Discussion with Saxony Partners, including:
Show the ROI of data strategies by proving potential reductions in the rate of head count growth through improved data provisioning, governance and usage.
Always talk to the why before the how
Using robotic process automation to streamline processes within a real estate investment management firm.
Discussion with ReDirect Consulting