Just Say 'AHHH' - the IV&V Checkup for Your Data Portfolio
In life's journey, what do you, your car, HVAC systems, and digital components have in common? Each should have a routine check-up to ensure both you and the systems on which you rely are performing at peak performance. An independent review from which the results give you feedback on whether you keep doing what you are doing or apply corrective measures. You rely on your HVAC to keep you warm in the winter and cool in the heat of summer. You rely on your data services to ensure your data loads in high transport times and keeps the business cool to accommodate high data usage times in perhaps the heat of quarter end.
This is where an IV&V (Independent Validation and Verification) offering from Opening Bell Ventures (OBV) for your digital journey can help. It includes such items as:
Objective Data Model, ETL, Data Asset Portfolio Analysis and Services Review
Assessment of Data Allocation, Efficiency, Fees and Expenses
Technical assessment of the code base across tools that are used for the development of data components.
An independent expert adviser
Go past the one-point-in-time dynamic
While code reviews can be done prior to your initial go-live per your development lifecycle, they are specific to the requirements of the project in one-point in time. Data related coding and tool configurations can vary widely between projects, and vendor programming pools with dispersed teams. The purpose of data code portfolio review is to check whether the data and resource investments are in tune with your data strategy and objectives.
The IV&V check-up takes a more holistic approach and goes past the project dynamic. It may include your data model, ETL, resource allocation goals, horizon of utility, suitability as per your data risk appetite and risk-return profile of the data under management, and the allocation to various asset categories, etc.
Long term wellness
Verification that the total assets are in tune with your data strategy and objectives to deliver business value. It may include your budget goals, horizon of investments, and risk appetite, etc.
To maintain a data enterprise for the long term, this perspective from project-based feature only review may need to be adjusted to support the long-term data potential of your cross-functional business and informational assets.
The IV&V results of the check-up do not necessary result in changes needed. Changes need only be done if the results are mis-aligned with the strategy. As part of the deliverables OBV deliverables output to include actional blueprints and planning recommendations.
Is IV&V for me?
To see if you need an IV&V (Independent Validation and Verification) of your digital components you may ask yourself questions such as these:
Is your data portfolio optimized for ETL efficiency, or can further steps be taken to avoid unnecessary defects?
Do you know what you are paying in fees and expenses, and are you paying too much for substandard data services?
Are you aware of the use of and risk of carrying tech-debt or oversized data assets for limited throughput slow loading and inefficient coding, where data is not reaching your business users in-time to act on the information?
Do You Need a Second Opinion on Your Data Related Coding?
Have the data asset allocation and vehicles around data builds been continuously updated to reflect changes in your data and business value circumstances? Is the allocation appropriate now?
Can your digital assets scale to keep up with performance?
Just like receiving a second opinion from a doctor, sometimes getting another well-informed perspective on a digital portfolio can deliver greater certainty and give you the confidence you need to take action for your own benefit to deliver on your digital strategy.
Check out Independent Verification and Validation and visit our website at Data Everywhere | Opening Bell Venture (openingbellventures.com)