DCAM Assessments with Pellustro for Data Management Maturity

The Data Management Capability Assessment Model (DCAM) is a formal framework with a consistent scoring model against which current data management capabilities are assessed.

Introduction to Data Management Capability Assessment Model DCAM

36 capabilities and 115 sub-capabilities associated with the development of a sustainable data management program are in the DCAM– covering all areas of data management, from strategy to architecture:

 

DCAM Component

 

Description

 

Data Management Strategy

 

Defines the framework for the data management program including the goals, objectives and scope; why it is important; how it will be organized, funded, governed and practically implemented

 

Business Case/Funding Model

 

Provides the justification for the data management program including the rationale for the investment; the costs, benefits, risks and expected outcomes; the mechanism used to ensure sufficient allocation of resources; and the approach used to measure costs and contributions from implementation of the data management program

 

Data Management Program

 

Identifies the organizational requirements needed to stand up a sustainable data management program including the operational framework to ensure sustainability and authority as well as the mechanisms to establish and confirm stakeholder engagement related to program implementation

 

Data Governance

 

Defines the rules of engagement necessary for program implementation including the definition of policies, procedures and standards as the mechanisms for alignment among stakeholders

 

Data Architecture

 

Focuses on the core concepts of “data as meaning” and how data is defined, described and related; the identification of logical domains of data; identification of the underlying physical repositories; and the governance procedures necessary to ensure the control and appropriate use of data

 

Technology Architecture

 

Addresses the relationship of data with the physical IT infrastructure needed for operational deployment including how data is acquired, stored, distributed and integrated across the organization

 

Data Quality

 

Establishes the concept of fit-for-purpose data and defines the processes associated with establishing both data control and supply chain management

 

Data Control Environment

 

The Data Control Environment refers to the process by which the data assets of a firm are managed in order to realize their maximum value.

 

* Above definitions are the official DCAM definitions

 

DCAM is defined and managed by the EDM Council, which was formed by the Global Financial Industry to Elevate the Practice of Data Management. The EDM Council has over 200 member firms with thousands of professionals, ranging from financial institutions, service providers, consulting firms to data/technology vendors.

To learn more about DCAM, please visit our Introduction to the Data Management Capability Assessment Model (DCAM) presentation.

Institutions assess their data management program against the DCAM on a periodic basis as part of ongoing improvement programs to transform themselves into data-driven organizations.

The results of the assessment are recommendations to support the organization’s data management strategy and implementation planning activity.

Pellustro makes the management of the full lifecycle of this assessment, from setup to conclusion, as efficient as possible.

 

Data Management Capability Assessment Result Analytics with Pellustro

 

A license for DCAM is provided as part of the Pellustro subscription, which enables a quick and easy launch of any assessment cycle.

Once activated, define the participants and begin the self-assessment. Whether only a selected group of data professionals or hundreds of stakeholders and data consumers, your effort remains the same. Let Pellustro do all the work.

Once the assessment is completed, powerful analytics provide you with insights to evaluate and improve your data management practices in accordance with the EDM Council’s Data Management Capability Assessment Model (DCAM).

Also, on a bi-annual basis, the EDM Council conducts a data management benchmarking study of the global financial information industry on behalf of their members. Pellustro is used by the EDM Council to provide a consistent view of where the financial industry collectively stands against the requirements for sustainable data management (based on DCAM).

Benchmark Data Management Capabilities against EDM Council DCAM Benchmark

This enables the comparison of your firm’s data management maturity with the industry or selected peers.

Request a demo to learn more about Pellustro and how you can streamline your data management maturity assessments going forward with Pellustro.

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About Thomas Bodenski

At Element22, Thomas' focus is on simplifying work life by improving the maturity of data management organizations, or by transforming financial institutions into analytical innovators and data-driven organizations.

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