St. James’s Place hosted a data meetup on the 29 January in collaboration with DAMA UK - the international Data Management Association and the premier international organisation for data management professionals, bringing together data professionals from many different organisations to discuss the importance of culture within data governance.
The recent event was kicked off by Lynn Pope, our own Head of Data at St. James’s Place Wealth Management, speaking to a packed room of enthusiastic data professionals and demonstrating the passion of St. James's Place to bring like-minded communities together to share and learn.
The full agenda included Charles Wood, Executive Finance Director at St. James’s Place, who discussed “Baking data thinking into company culture”, followed by Chris Bradley of DAMA UK who built on this by exploring “What a data owner needs to do ” The event ended with a workshop covering both topics and their relationship.
Charles has always been passionate about data and was delighted to speak about how we define a company's culture and how data thinking needs to become part of it. He highlighted how a company's culture is primarily about people, and as people are not always rational or logical, a company's culture may reflect this. If undertaking the challenge of changing a company culture, it is important to understand that this means working with people and the way they think, which takes time.
Pondering on what data thinking means, Charles remarked how he actually had no idea. Even if there was a definition, it is likely to be just one of many, so which should we use? If we consider the many data roles within a company – for example, the end user, the contractor, the owner, the customer - their experiences with data help shape what they are thinking at any given time. Therefore, Charles encouraged us all to engage with others in different ways: be it fun, be it serious, but all must be meaningful to the individual.
Charles expanded to share some experiences; as an actuary he recalls insurance firms with hundreds of clerks who spent the day processing policies, with one person to initially write in pencil and another to subsequently go over in pen. This required many people; contrast that to today where there are few as technology has taken their place. He also compared organisations such as Amazon, Tesco, a local school and the NHS where culture is very different, even though the importance of data is at their heart. Today, Charles chairs the data working group at St. James's Place. This educational forum brings together likeminded people working in a rapidly-developing industry where tools, data science and data visualisations are continually evolving.
Charles ended by encouraging us all to have confidence in our purpose, as data is not going away. Our efforts, in time, will assist in baking data into company culture.
Chris Bradley followed Charles by exploring the role of data owners. Chris has over 38 years of data governance experience and, as a DAMA UK committee member, he commenced by reacquainting us with the DMBok 'wheel' which places governance firmly in the centre and key influencer of all aspects of the operation. Chris defined governance as “the process of managing and improving data for the benefit of all stakeholders”. Furthermore, he noted that it is not a one-off tactical project or the responsibility of the IT department alone. He continued to describe the three stages of data maturity: reactive (generally tactical, often in response to a problem or data breach), pre-emptive (often driven by regulatory needs - at this stage you are can only hope to be compliant) and proactive (improved capability to resolve risks/data issues and part of the broader information strategy).
Chris clarified how the role of the data owner brings with it a key responsibility in a company's data governance strategy and that being accountable for a data subject area requires a wider focus than just the impact on their department. They need to act on behalf of the whole organisation by working closely with the data stewards and looking to maximise the business value of data through deploying good communication techniques and stakeholder management skills. Chris stressed the need for a clear understanding of roles and responsibilities, and utilising tools such as a communication plan. He also accentuated that any ensuing success needs to be measured and reported.
With refreshments in hand, informal working groups were established, working in teams to discuss whether there is a link between data owners and culture. For our teams, there was never a doubt that they were intrinsically linked. Data owners should understand the company vision to set clear data objectives, with the understanding they will be accountable for delivering these; they need to be advocates for data, delivering clear messaging through appropriate communication channels to the business areas. A debate ensued as to whether data owners need to know the detail of the data, or is it enough to have the right governance framework and stewards in place?
As we all headed home on a cold January night with our thoughts from the evening we thanked all who attended, and leave you with some final words from Charles : "We are all responsible for the outcome; keep talking and sharing and learning from each other."