EDM Council Launches Cloud Data Management Capabilities Framework to Ensure Trusted Best Practices to Accelerate the Cloud

EDM Council Launches Cloud Data Management Capabilities Framework to Ensure Trusted Best Practices to Accelerate the Cloud-01

The EDM Council, a cross-industry trade association for data management and analytics, has published the Cloud Data Management Capabilities (CDMC) framework for management Cloud Data Management The CDMC framework, available to all industries, represents a comprehensive set of cloud data management capabilities, standards and best practices for cloud, multi-cloud, and hybrid deployments that incorporate key automated controls for protection sensitive data.

The CDMC framework was developed over the past 18 months by the CDMC Workgroup of the EDM Council, with the participation of leading companies in the financial sector, consulting and technology companies, including Amazon Web Services (AWS), Google Cloud, IBM and Microsoft. It is chaired by Morgan Stanley and LSEG, with project management in charge of Capco.

The CDMC framework is comprised of six components, 14 capabilities, and 37 sub-capacities that enable companies across all industries to effectively manage their cloud environments. The six components cover data governance and accountability, cataloging and classification, data accessibility and use, data protection and privacy, data lifecycle, and technical architecture.

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“As the cloud becomes an increasingly critical component of emerging business models, the CDMC framework will be a valuable resource for accessing comprehensive and up-to-date best practices for data management, not just in the financial services industry, but across AWS is proud to have contributed to the development of the framework and looks forward to continuing to support this collaborative effort,” said Scott Mullins , director of worldwide business development for financial services at Amazon Web Services.

“Cloud acceleration has increased as companies of all sizes and industries become more reliant on data to drive transformation,” commented Evren Eryurek, director of product management for data analytics at Google Cloud. “The speed at which companies are able to respond to change is the difference between those who successfully navigate the future and those who are left behind. The CDMC framework will be a huge resource for companies as they continue to accelerate their transformation digital and reinventing your business by effectively harnessing the power of real-time data.”

“A critical next hurdle for the global financial services industry is the adoption of a standard set of best practices around data management across multiple cloud environments, especially controls to protect data privacy and comply with regulations. of cybercrime combined with increased regulatory scrutiny of financial institutions as stewards of their clients’ most sensitive data, constitutes a compelling case for significant investment and coordination in this space,” said Rajiv Chodhari , vice president and chief data officer and artificial intelligence from IBM’s financial services. “The EDM Council has taken an important step in aligning the financial services industry and its partners on these issues.

“We are excited to join the EDM Council to celebrate the release of the CDMC guidelines to help the industry effectively manage data in hybrid and cloud environments,” said Mike Flasko , general manager, Azure Data Governance Platform at Microsoft. “We greatly appreciate the opportunity to partner with everyone involved and are excited to see all the ways that will be used to advance data management across all industries.”

“The EDM Council is honored to have facilitated the development of the CDMC framework to deliver a certified and auditable cloud data management best practice available as a free license to all industries,” said John Bottega , President of the EDM Council. “We are very excited to launch the CDMC framework and appreciate the efforts of everyone involved in the global industry in this 18-month initiative.”

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