Transforming Real Estate Operations through Governance
A Comprehensive Data Evolution Journey for a Leading Singaporean Bank
About the Client
Our client is a prominent financial institution based in Singapore, recognized for its global reach and diverse portfolio of financial services. It embarked on a multi-phased program to revolutionize data practices in its Commercial Real Estate Unit. Seeking a robust data governance framework, a comprehensive business glossary, automated source data processes, in-flight data quality checks, a golden state centralized data store, and the establishment of a skilled data governance team with structured incident-handling forums.
Services
Artha Value Add
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Business Use Case Driven Approach
Assisted in identifying functional areas, critical data elements, and maintenance strategies through collaborative analysis with data stewards and owners.
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Data Governance Engine Implementation
Operationalized data governance by setting up policies, integration, quality rules, stewardship, and metrics using an in-house accelerator.
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Skill Identification and Customized Structure
Recognized the importance of people in efficient data governance, conducted skill assessments, and set up a customized structure for task forces and councils.
Challenges
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Scope of Commercial Real Estate Department: Managing the bank's global physical properties, including internal space, facilities, projects, portfolios, and employee experiences. -
Historical Office Space Concerns: Addressing CEO concerns about employee office space shortages in quarterly town hall meetings before 2020.
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Data Management Challenges: Handling unstructured data from various sources, lack of quality checks, and absence of a centralized repository leads to reactive problem-solving.
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Outcome Predictability Struggle: Ensuring predictable outcomes by effectively utilizing enterprise-wide collected data is a significant obstacle for the unit.
Results
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Focused Data Quality Improvement: Addressed vital problem areas, achieving improvements in data quality (consistency, accuracy, and timeliness).
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Phased Data Automation Strategy: Executed a comprehensive data strategy, automating data processes and creating a centralized warehouse.
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Data Dictionary Implementation: Implemented a data dictionary to reduce multiple data versions across various department units.
Solution
Key Problem Areas Identification
Identified critical areas for improvement and automation through a focused use case approach.
Business Glossary Creation
Identified and defined critical data elements for building a centralized business glossary.
Automation of Data Pipelines
Automated legacy data pipelines, reducing manual processing from third-party vendors and disparate sources.
Centralized Data Store Establishment
Created a central data store with seamless connectivity to business intelligence tools.
Data Insights Platform Implementation
Implemented the Data Insights Platform® to reduce redundancy and address quality issues.
Active Data Stewardship
Initiated active stewardship for data cleansing, ensuring data consistency, accuracy, and timeliness.
Data Governance Council Setup
Established and initiated a data governance council and task force to address incidents and new data requests.
Key Problem Areas Identification
Identified critical areas for improvement and automation through a focused use case approach.
Business Glossary Creation
Identified and defined critical data elements for building a centralized business glossary.
Automation of Data Pipelines
Automated legacy data pipelines, reducing manual processing from third-party vendors and disparate sources.
Centralized Data Store Establishment
Created a central data store with seamless connectivity to business intelligence tools.
Data Insights Platform Implementation
Implemented the Data Insights Platform® to reduce redundancy and address quality issues.
Active Data Stewardship
Initiated active stewardship for data cleansing, ensuring data consistency, accuracy, and timeliness.
Data Governance Council Setup
Established and initiated a data governance council and task force to address incidents and new data requests.
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