March 29, 2011 – The Object Management Group (OMG) and the Enterprise Data Management (EDM) Council are working together to help organizations transform their data into “actionable intelligence” in an effort to support systemic risk assessment and analytics.

We found this interesting topic on Finextra in their article, “OMG and EDM Council forge data management standards partnership.” They are addressing the interoperability issues in the global financial system by working together to develop a common language and symbology. The lack of high quality data has an adverse impact on business and especially IT operations.

OMG and the EDM Council are bringing together EDM’s domain expertise and OMG’s standardization expertise to complete, maintain and build a semantic repository standard that will dramatically increase efficiency in financial services firms serving capital markets.

Melody K. Smith