Global Transformation Readiness, Part 3
Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
Data and Reporting Standardization
Even with a sound business model and governance framework in place, the organization will be disadvantaged without the appropriate level of data standardization to make informed decisions. The nuances and level of data standardization required for an organization's optimal future state varies. Data and reporting standardization requirements are partly dependent upon the organization's operating environment. Common metrics require common data definitions. Chemical companies, for example, drive a high level of standardization in reporting because they leverage common materials, processes, and customers globally. To help determine the optimal future target for data and reporting transformation, consider the following readiness checklist:
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