Tag Archives: delivery
In my last blog post I discussed why an understanding of corporate financial concepts is so important to data quality success. In this blog, I will examine knowledge of commercial enterprise applications as a key enabler of effective data quality delivery.
Packaged applications for ERP, CRM, MRP, HCM, etc. were first introduced decades ago to provide tightly integrated business management functions, standardized processes and streamlined transaction processing. While one can argue whether or not these applications have lived up to all of the hyperbole, the reality is that they have been successful and are here to stay. As these backbone systems continued to evolve and mature, lessons learned from thousands of implementations were incorporated into the model solutions as best practices. These best practices spawned industry standard processes and specialized variants were born (e.g. vertical systems solutions). With the widespread adoption of these solutions, the days of custom building an application to meet the business’s needs have largely disappeared (although exceptions do persist to support specialized needs). (more…)
In my previous post I discussed effective stakeholder management and communications as a key enabler of successful data quality delivery. In this blog, I will discuss the importance of demonstrated project management fundamentals.
Large-scale, complex enterprise Data Quality and Data Management efforts are characterized by numerous activities and tasks being performed iteratively by multiple resources, across multiple work streams, with high volume units of work (i.e. dozens of source systems and data objects, hundreds of tables, thousands of data elements, hundreds of thousands of data defects and millions of records). Without the means to effectively define, plan and manage these efforts, success is nearly impossible. (more…)
What are you doing to prepare?
“All loans, without exception, must use the MISMO-based loan delivery data requirements on or after September 1, 2011.” Where is this coming from? The Federal Housing Finance Agency (FHFA) is mandating a joint uniform loan delivery data (ULDD) standard for single-family loans using MISMO 3. According to FreddieMac, these MISMO based loan delivery requirements “…represent a significant change from our current loan delivery data requirements …”
Stated benefits of this new delivery format include:
- Strengthening risk management capabilities.
- Improving transparency and confidence in the loan decision by using the same root data in our processes that lenders use in their processes
- Improving data accuracy and confidence in loan quality.
- Supporting greater data consistency while maintaining each GSE’s ability to independently set credit and pricing policies and business terms. (more…)