EDM Councils Semantics Repository – Draft is looking good!

Well as part of my learning in the domain of Finance most specifically data repository and schema standards.

As some people know I was and still am quit involved in CMM/CMMI and it was a pleasant surprise to find out that EDM council and Carnegie Mellon University have come up with a proposed data management maturity model focused on the finance industry as a whole.

This standard in the making is based on the maturity models used in CMMI and PMM, and is split into 4 Distinct areas as follows:

Core Areas of DATA Management Maturity

Operations
        Data Policies and Procedures
        Requirements Capture
        Vendor Contract Management
        Business precedence and data validation rules
        Data distribution
        Entitlement and authorization
        Archive, retention and privacy
        Business process and workflow
        links and associations of data and process
        SLA and resolution tracking
        Regulatory and client compliance
        Mapping and X-Referencing
        Extensibility and RE-use

Quality Management
        Quality Measurement and benchmarks (metrics)
        Classification (grouping/identity of metrics)
        Change and Exception Management
        Error Logging and Root Cause analysis
        Inventory (data), traceability and surveillance
        Cleansing, enrichment and validation
        Quality assurance and auditing
        Data quality strategy and objectives

Governance & Strategy
    Strategy, goals and scope
    Data content and coverage
    Funding
    Executive support/sponsorship
    Governance operating/org model/structure
    Communications/Internal marketing/PR

Platform
    Metadata repo
    Legacy reconciliation
    Architectural framework   
    Data repo standardization
    Transformation logic
    Format standards and messaging model
    semantics and definitions
    Loading and application integration
    common data model

As you can see the Maturity model is focused on 4 key area’s that are key to data management in the finance industry.

Also of special note is the Semantics Repository that has been a work in progress for quite a while now, but seems to be nearing completion.

The draft specification, excel sheets and diagrams are at the flowing link: http://www.hypercube.co.uk/edmcouncil/