The typical large enterprise has thousands of application systems. Each system has thousands of concepts (tables, columns, attributes, elements etc.). Collectively each large firm is managing millions of such concepts which drives complexity in systems, integration and procedures. Most firms continue to accept this as inevitable.
Over the last ten years we have evolved a methodology for finding and implementing an elegant model of the information in large firms. All the large firms we have worked with have a core enterprise model that consists of less than 500 concepts. Implementing this core, and then leveraging over the existing data-scape has many emergent benefits:
- The entire data landscape becomes understandable. No one understands 1 million concepts, but a motivated analyst can learn 500 concepts over the weekend
- Data can be combined into an enterprise knowledge graph, that has the best features of a data warehouse and a data lake. Complex graph analytics can be performed without needing to be a data scientist.
- Existing data can be left where it is, mapped and queried as needed, in a federated fashion
- New applications can be built with a fraction of the complexity and cost
- Understanding where your data is, what it means, how it has been differently structured and named is a key enabler of digital transformation and legacy modernization.
We call this approach “The data-centric revolution.” We are currently helping Broadridge Financials, Standard & Poor’s, Discourse.ai and Morgan Stanley make this transition. We have the capacity to help one or two more.