New York based cross-industry trade association for data management and analytics, the Enterprise Data Management (EDM) Council, has published a new Cloud Data Management Capabilities (CDMC) framework for managing data in the cloud. The framework hopes to provide a set of standards, best practices and cloud data management capabilities for hybrid cloud and multi cloud implementations.
The EDM council said that the framework was developed over the last 18 months by the organisation’s CDMC workgroup along with participation from companies such as Google Cloud, IBM, Microsoft and Amazon Web Services.
"As the Cloud increasingly becomes a foundational 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,” said Scott Mullins, Director, Worldwide Business Development, Financial Services at Amazon Web Services.
The framework consists of six components, 14 capabilities and 37 sub-capabilities that will help companies manage their cloud environments. These six components are cataloguing/classification, data governance and accountability, data accessibility and usage, data privacy, technical architecture and data lifecycle.
The 14 capabilities provide key controls for managing sensitive data in the cloud, which include finding the purpose for data consumption, assessing the impact of data privacy, measuring the quality of data, managing data retention, archiving and purging, and proper cataloguing of cost metrics, among other points.
"A critical next hurdle for the global financial services industry is the adoption of a standard set of best practices regarding the management of data in multi-cloud environments,” said Rajiv Chodhari, Vice President and Financial Services Data & AI CTO at IBM.
Chodhari pointed out that the dramatic rise in cybercrimes and increased regulatory scrutiny made a compelling case for significant coordination and investment in the space.
The framework will be available to EDM Council members and non-members. The EDM council currently has members from more than 250 organisations globally.