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Information Management Strategy from Business and IT Viewpoints

This article explores the importance of integrating business and information architecture in order to develop a robust information management strategy. It discusses key capabilities, building blocks, and principles that organizations can adopt to ensure clean, secure, and unified data.

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Information Management Strategy from Business and IT Viewpoints

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  1. Information Management Strategyfrom Business and IT Viewpoints Mike Myhrom Director, Research, Analysis and Consulting Marina Kerbel Principal Architect / Director of Information Architecture Thrivent Financial The Twin Cities Business Architecture Forum (TCBAF)May 15, 2012

  2. November 2011 “Integrated BA And IA Artifacts Are Valuable — And Hard To Find” Most Organizations With Formal BA And IA Practices Link Their Architectures

  3. Architecture for Business Results Bus Arch: Define Movie Watching Capability & Roadmap Tech. Arch: Define tech. components that enable Wi-Fi TV streaming Info. Arch: Define Movie Catalog for Movie Subject Area and where and how viewers can access it Without a movie catalog a viewer who wanted to see 5-stars Romantic Comedy may instead get 2-stars Horror Movie Business Goal: Grow Membership thru Movie Viewers Satisfaction

  4. About Thrivent Financial … • Faith-based, not-for-profit financial services • Nearly 2.5 million members strong • Fortune 500 organization, >$73 billion in assets under management • Largest fraternal benefit society in the U.S. • Full complement of financial products and services • Mission: strengthen Christian communities by helping members be wise with money and inspiring them to live generously

  5. Information Management Strategy is focused on maturing key business capabilities Example of selecting key capabilities Cross-sell to Existing Customers Initiative/Campaign ROI Calculation New Customer Acquisition High-Value Customer Retention Agent Recruiting High-Value Agent Retention Underwriting Pricing Etc.

  6. Five Rulesguide our work partnership support focus framework language Business + IT partnership. (Early and throughout.) Executive supportbased on ROI + expanded capabilities. Constant focuson supporting key business strategies. A frameworkthat’s holistic, simple, iterative. Common language.

  7. Business, Technology, Datagrowing complexity, diversity and volume partnership support focus framework language

  8. From Business to Data bringing order to complexity Find data. Trust it, access it. Business Strategy Business Capabilities Enterprise Information Management (EIM) Can’t find data. Don’t trust it. Can’t access it. Easier, more efficient, minimizing cost. Leverage what’s there. Complex, redundant, costly. Can’t leverage what’s there. Keep making more and not sharing it. Connect, share, draw insights. partnership support focus framework language

  9. The EIM Strategy Building Blocks: subject areas & capabilities Subject Areaslarge groupings of data (such as Customer, Contract, Employee) Capabilities large groupings of functions (such as Business Intelligence, Data Warehouse, Data Services, Master Data Management / Customer Data Integration, ECM, Data Governance) Building Blocks available for the right people at the right time. clean, secure, unified, sharable data EIM ensures partnership support focus framework language

  10. The EIM Building Blocks: subject areas Each subject area consists of one or more sub-areas. • Used to: • Provide common framework and language across business and IT. • Establish clear boundary of data ownership and stewardship. • Identify common data needs across projects. • Provide basis for designing, managing and documenting data. partnership support focus framework language

  11. The EIM Building Blocks: capabilities available for the right people at the right time. clean, secure, unified, sharable data EIM ensures EIM Capabilities • IT B U S I N E S S Business Intelligence Data Warehouse & Data Marts Data Integration / Data Services Master Data Management (MDM) / Customer Data Integration (CDI) Enterprise Content Management (ECM) Data Governance: Metadata ,Quality, Security partnership support focus framework language

  12. EIM Principles for subject areas and capabilities partnership support focus framework language • All data is classified into Subject Areas to logically divide it into manageable pieces. • Each subject area has Data Owner/Stewards assigned as a critical part of the Data Governance program. • Data is sourced from the System of Record or Certified Copy to ensure integrity and known quality. • Each system that maintains sharable data provides Standard Interface to this data to support common data definitions and data reuse. • Data Reusability Approach is used to identify common data needs across all projects so optimal enterprise solutions can be developed. • Information Management Strategy that defines and promotes key principles is maintained and all projects adhere to it.

  13. EIM Principles: • Each subject area has Data Owner/Stewards assigned as a critical part of the Data Governance program partnership support focus framework language

  14. EIM Principle: • Data Reusability Approach is used to identify common data needs across all projects Goal: Implement data solutions that are most beneficial for enterprise rather than a single project Approach: look at data needs across programs (high priority business capabilities) and develop common data solutions, prioritized by how many programs need the same data Data Requirement Matrix partnership support focus framework language

  15. Roadmaps for Reuse (using EDW as Data Capability example) • ROI due to reuse: • Cost to build for reuse = 2.5 X cost to build a silo • Positive return if 3+ consumers use the same solution Build sharable data by subject areas EDW R100 – Campaigns Compliance R10 Marketing R40 CRM R100 EDW R20 – Contract Term Life Fraternal R20 Marketing R30 EDW R1– Customer Groups Consume data by Programs (Business Capabilities) Marketing R1 Fraternal R1 Self-Service R1 Compliance R2 CRM R1 Compliance R1 2007 2008 …….. 2012 +

  16. Projects Implement Common Solutions based on Reuse roadmap • Customer Data Integration (MDM) • Provide sharable Customer data • Policy Admin Systems • Provide sharable Contract Data • Enterprise Data Warehouse (EDW) • Integrate sharable data 30+ major initiatives participated in Data Reuse Many Others… • CRM • Leverage sharable MDM Customer & EDW Contract data • Compliance • Leverage EDW Customer, Contract, Agent data • Marketing • LeverageEDWCustomer, Product, Agent data • Self Service • LeverageMDM Customer, EDW Contracts

  17. EIM Story bring order to data complexity, enable business results Self Service Fraternal 2 1 Member logs on to company website to review points earned to date, updates personal preferences Loyalty program rewards Members for Fraternal product ownership and engagement with organization Fraternal Tools thrivent.com Benefit Points Preferences Marketing 3 Marketing conducts analysis on customer information to identify members and prospects for offers and communications DW & Marts Policy Admin Contracts Segmentation Compliance Package Sales Suitability 5 SalesForce.com Compliance CRM 4 Financial representative responds to lead sent to SalesForce, meets with member, sells new contract Suitability analysis completed on new business contracts

  18. Business Use of Data:Some Examples

  19. Five Rulesguided our work Business + IT partnership. (Early and throughout.) Executive supportbased on ROI + expanded capabilities. Constant focuson supporting key business strategies. A frameworkthat’s holistic, simple, iterative. Common language.

  20. Information Management Strategy is focused on maturing key business capabilities Example of selecting key capabilities Cross-sell to Existing Customers Initiative/Campaign ROI Calculation New Customer Acquisition High-Value Customer Retention Agent Recruiting High-Value Agent Retention Underwriting Pricing Etc.

  21. Cross-Sell Model identifies each household’s likelihood to purchase each product • Each existing household assigned a probability of purchase • Households rank-ordered based on probability of purchase; placed in one of twenty groups based on rank • Lift for top group over 7x average

  22. Household Assigned a Number of Starsfor each product based on its model group Top 10% Next 10% Next 10% Next 50% Remaining 20% 4 stars 3 stars 2 stars 0 stars 1 star

  23. Model Output Delivered to Agentsvia salesforce for cross-sell success Household – Bob Jones – HHID: 12345 Variable Annuity Term Life Cash Value Life Mutual Fund Health

  24. Scorecard automatically calculates and displays ROI of each campaign / event / initiative

  25. New Member Acquisition Model and Pilot Campaignin progress: an example of projected ROI Data: $80,000 Model Development: $70,000 Printing and Mailing Costs: $100,000 Management and Agent Time: $200,000 Total Expense: $450,000 Member Households Contacted: 100,000 X Projected Response Rate Range: 0.3% to 1% X Average Value per Response: $1,800 = Total Revenue Range: $540k to $1.8M Net Return Range: $90k to $1.35M

  26. Five Rulesguided our work Business+ IT partnership. (Early and throughout.) Executive supportbased on ROI + expanded capabilities. Constant focuson supporting key business strategies. A frameworkthat’s holistic, simple, iterative. Common language.

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