Innovation in Compliance - Is Data Fit for Purpose? with Malcolm Hawker

Thomas Fox - Compliance Evangelist
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Is your company’s data fit for purpose? In this episode of the Innovation in Compliance podcast, I welcome Malcolm Hawker of Profisee, a company that creates MDM software, to discuss the importance of data quality, master data management (MDM), and data governance. We also explore how proper data management can drive exceptional results, reduce costs, and ensure compliance.

Malcolm Hawker is a seasoned data management and governance See more +

Is your company’s data fit for purpose? In this episode of the Innovation in Compliance podcast, I welcome Malcolm Hawker of Profisee, a company that creates MDM software, to discuss the importance of data quality, master data management (MDM), and data governance. We also explore how proper data management can drive exceptional results, reduce costs, and ensure compliance.

Malcolm Hawker is a seasoned data management and governance professional with over 30 years of experience. Malcolm spent 15 years in product leadership, including a stint as Chief Product Officer at a software startup in Austin, Texas. He also led an IT organization at a $2 billion publicly traded company. Malcolm has since specialized in data management, master data management, and governance, working as an analyst for Gartner before joining Profisee as the Head of Data Strategy. Malcolm’s passion is helping organizations leverage data to drive results.

You’ll hear us talk about these ideas:

Data must be accurate, complete, timely, and unique to be fit for purpose within an organization’s business processes.

Master data management (MDM) solves the “single version of the truth” problem, helping organizations maintain consistent and trustworthy data across various systems and departments.

Effective data governance involves creating and implementing policies and procedures related to data management to optimize value, reduce costs, and ensure compliance.

High-level, cross-functional, and functional levels all require tailored governance strategies.

A CDO should define how data governance drives the three levers of revenue, cost savings, and risk mitigation within an organization.

Corporate governance is typically the focus of boards of directors, while data governance is more of a functional or operating-level concern.

Data privacy plays a significant role in data governance and must be addressed with robust policies and procedures.

Data governance can contribute to ESG initiatives, with one example being the reduction of carbon footprint through better data management and retention policies.

Regardless of technology trends, the foundation of accurate, consistent, trustworthy, and fit-for-purpose data remains essential for successful decision-making and operations.

“Modern younger business leaders are turning to LinkedIn, and they’re turning to YouTube, to podcasts for these types of insights [about business]. I need to be where the business leaders are.” Through his CDO Matters LIVE podcast, Malcolm shares best practices from a data management, data quality, and MDM perspective.

Malcolm’s experience at AOL during its rapid growth on his innovative approach. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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