Data Strategy within BIS Innovation 2025 program Hiren Jani Head of Platform Engineering hiren.jani@bis.org Restricted
BIS Innovation 2025 strategy has particular emphasis on data management as, ✓ The value BIS can derive from it’s data is unlimited, ✓ How we manage data has direct impact on the services we offer BIS data strategy is embedded within the business strategy consists of multiple work streams focusing on enhancing Bank’s data and analytics capability 2 Restricted
Use Cases Technology Flexibility Scalability Skills Ingredients of Team Governance Data Data Data data strategy Data Data Data Data Data 3 Restricted
Business objectives of BIS data strategy Expand existing strength Improve services Enable novel capabilities Expand potential of the Bank’s statistical Increase profit potential and client Enable new business capabilities that exploit and research capabilities services in Banking modern data and advanced analytics technologies and practices in the Bank Extract value from Bank's data assets to Enhance collaboration in economic support business decisions research and Banking activities Provide economies-of-scale and economies-of-scope for Bank's data management needs Data-driven digital business Agility Operational excellence Encourage and promote culture of data- Increase agility and reduce time-to- Improve cyber security and IT operational driven decision making market for introducing new banking excellence products and services Increase trust in data and reporting Deliver cost and resource efficiency in Enable agile data analytics by delivering delivering and managing data initiatives insights earlier and more frequently 4 Restricted
Implementation of BIS data strategy Expand existing strength Improve services Enable novel capabilities Provide self- service ‘data lab’ and ‘data Provide next generation collaboration Develop new data platforms that allows to discovery’ tools that allows researchers to tools for exchanging data, research collect, organise and process large volume analyse disparate data sources and find methodology and confidential and diverse types of data new insights quickly documents Enhance data science and data visualization Use alternative data sources for economic Provide real-time reporting to the central practices in the Bank research and banking risk & investment banks on their positions strategies Improve data dissemination channels to communicate insights effectively Agility Data-driven digital business Operational excellence Implement ultra modern business Establish effective data management Implement real-time analytics and machine intelligence platform(s) to deliver framework, including governance learning to detect cyber attacks accurate business insights faster, better Develop bank-wide communities to promote Implement predictive analytics for IT system Implement a data transfer backbone to best practices and knowledge sharing monitoring harmonies data collection and data Implement bank-wide market and reference Automate data quality checks, exception dissemination processes allowing for data system handling and reporting processes agility in meeting new business demands 5 Restricted
Why do cars have Breaks? So we can go faster .. Data Governance provides the same function for a data strategy. Effective Data Governance processes and framework allows to implement the strategy faster and monitor the progress. 6 Restricted
Data Strategy and Governance (Iterative approach) Matured Scope of data Functional Foundation 7 Restricted
Data Strategy implementation approach 8 Restricted
Plethora of data analytics technology 9
Thank you Q&A 10 Restricted
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