Setting up a data middle office is an effective way for an organization to harness big data capability. Not only can it help tackle the issue of data isolation, it also facilities front-office innovations.
The basic idea is to gather main data sets that are most critical and used most frequently within an organization.
This will not only reduce redundant work, improve efficiency and reduce errors, but also make the public layer data become more streamlined.
Let’s take a look at OneData, Alibaba’s data middle office. The system has brought about five major benefits.
First, unification of standards. By standardizing data collection and development procedures, data consistency is enhanced.
Second, it has strengthened the support for numerous business units within the organization, including the need for customization.
Third, all business units can access these data resources in a more efficient way.
Fourth, by streamlining the data bank, data management costs can be reduced.
Fifth, it enhances R&D efficiency and let engineers better cooperate with one another.
This article appeared in the Hong Kong Economic Journal on Aug 14
Translation by Julie Zhu
[Chinese version 中文版]
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