Data anarchy sounds like a new television series, but in reality it has serious consequences for the information world. DATAVERSITY brought this interesting information to us in their article, “Boost Data Management to Stop Data Anarchy.”
During the financial crisis a decade ago, important mortgage-related data was lost as it flowed through the process. This affected the ability to measure true instrument risk. This “break in the data supply chain” resulted in the inability to gain insight into underlying collateral even as new instruments were created faster than data functions were able to manage them. This began a chain of events that resulted in the financial crisis of 2008.
If we have learned anything from the past, we know that technology is a part of the solution, regardless of the industry. To have confidence in data requires a flexible, adaptable data infrastructure that enables organizations to respond appropriately to threats as well as opportunities.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.