Nicholas Calcanes understands the importance of data management
having worked at Bank of America for several years. After graduating
with a Bachelor’s Degree in both Economics, and Government, he started
working at First Union Brokerage, and later at The Prudential before
moving over to Bank of America. Nicholas Calcanes is the Chief
Information Officer at the bank and offers these data management tips.
Data Quality Assessment
Data builds up over time and needs to be regularly accessed. Information that has errors, inconsistencies, missing fields, or duplicates can often become a problem if not identified and corrected. You will need to have an independent analysis of the data to provide you with in-depth, accurate, and detailed information of your firm’s data. Data quality assessment is an important part of data management and one that cannot be overlooked.
Firewall
Data is strategic information that a firm has, and it should be properly protected. The data in your organization has financial value and it increases and relates to those who make use of it. You will need to have an efficient data firewall in place to block bad data at the point it enters the system. Cyber crimes and data theft are on the rise and protecting your data from the various threat out there are crucial.
Make Business Users Data Stewards
Several organizations have realized the importance of making business professionals take responsibility for the data they help create and feed into the system. This has helped several firms to create a unique system of data governance to effectively manage data quality. Data stewards take a leading role in managing data integrity issues and act as liaisons with the team that manages the data management infrastructure.
Nicholas Calcanes believes it is important to maintain proper a data management system, and regularly analyze data in the system.
Data Quality Assessment
Data builds up over time and needs to be regularly accessed. Information that has errors, inconsistencies, missing fields, or duplicates can often become a problem if not identified and corrected. You will need to have an independent analysis of the data to provide you with in-depth, accurate, and detailed information of your firm’s data. Data quality assessment is an important part of data management and one that cannot be overlooked.
Firewall
Data is strategic information that a firm has, and it should be properly protected. The data in your organization has financial value and it increases and relates to those who make use of it. You will need to have an efficient data firewall in place to block bad data at the point it enters the system. Cyber crimes and data theft are on the rise and protecting your data from the various threat out there are crucial.
Make Business Users Data Stewards
Several organizations have realized the importance of making business professionals take responsibility for the data they help create and feed into the system. This has helped several firms to create a unique system of data governance to effectively manage data quality. Data stewards take a leading role in managing data integrity issues and act as liaisons with the team that manages the data management infrastructure.
Nicholas Calcanes believes it is important to maintain proper a data management system, and regularly analyze data in the system.
