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Data usage Optimization

Data usage Optimization

Data usage Optimization

For a financial services company active in the banking sector we had the project to optimize data usage.

We supported our client with its need for improved Data Management & Governance as well as the new challenges of automation in the banking.

Client Challenges

In the challenging context of increased data-intensive regulatory pressure, the need for improved Data Management and Governance and a new wave of automation in banking, our client wanted a reduction in FTEs spent on low-value data usage activities.

Approach

KPMG defined four different project streams:

  • Governance & Organization: KPMG co-created a new Target Operating Model for Data Usage with representatives from the end-to-end Operations departments. Key concepts were aligned with key stakeholders (CDO, central BI team, Data Governance, IT, etc.) in order to ensure a future-proof Target Operating Model (TOM) that is easily integrated with other organization-wide initiatives. The new TOM was tested and deployed using a pilot-based approach to ensure its applicability in the client’s environment. Key components included the definition of (new) roles and responsibilities, a uniform Demand Management Process (for data and reporting needs), among others.
  • EPM & Optimization: We supported the client in re-thinking their Strategic Value Drivers and provided a framework aimed at appropriately cascading the right key performance indicators to steer the business towards those strategic objectives.
  • Reporting & Dashboarding: A deep-dive reporting exercise was conducted, revealing a widespread existence of (redundant) reporting whose relevancy was uncertain and related effort spent data usage activities (extraction, transformation, distribution), indicating significant time spent on manual and low-value activities. A structured optimization approach (delete, merge, automate and recycle) resulted in rationalized data usage activities and an automation action plan, which was deployed simultaneously with a centralization of data usage activities for a Reporting & Analytics Team. This resulted in a rationalized, up-to-date Report Catalogue, reaching the “get clean” objective. The related “stay clean” is ensured by the new Target Operating Model.
  • Tooling & Architecture: We supported the bank in redefining its target Reporting Architecture, including the distinction between a prototyping environment, migration project and industrialization techniques for reporting flows.

Benefits

  • By adopting the new TOM, our client was able to achieve significant FTE savings in its Data and Reporting development effort.
  • Shortened time to market for new BI solutions.
  • The project resulted in business value creation, operational cost cutting, better regulatory compliance and overall end user satisfaction.

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