Everyone Eats: Data Catalogs Serving Data Consumers

Sometimes the most unexpected transformations are the most profound.

For years, efforts to improve data quality and governance have relied on top-down programs and siloed solutions. Yet, these approaches often fall short for those who need data the most: data consumers. Data analysts, actuaries, and business leaders frequently struggle to effectively find trusted data that they can use to drive business decisions.

Shifting to a consumer-focused approach can have far-reaching effects. By prioritizing modern data catalog and data quality tools, insurers can empower their teams to make better decisions.

Unified data catalogs integrate business and technical metadata for all data assets across the enterprise. Instead of fragmented datasets, information is consolidated into a single intuitive interface. Modern data catalogs collect metadata from asset inventory systems, database platforms, reporting tools, data transformation/movement tools, and data quality tools. Some of the key benefits of this are:

• Streamlined discovery: Users can discover relevant data without the labyrinthine navigation that comes with traditional systems. Reducing inefficiencies allows teams to focus on insights rather than search efforts.

  
  

• Forums for collaboration: Data consumers can ask questions, comment on, and flag datasets across teams. Collective problem-solving can minimize redundant efforts in data analysis.

  
  

• Clarified stewardship: More granular access settings demarcate roles and responsibilities. Stewardship assignments workflows provide a way for users to easily assign and manage stewards.

  
  

• Cloud-enabled accessibility: Modern data catalogs support integration with cloud-native platforms, ensuring scalability and enabling access to distributed data sources.

  
  

• Enhanced Governance: Automated monitoring and metadata-driven workflows ensure compliance with regulatory requirements and internal standards.

  
  

• Self-Service Analytics: Users can independently explore and utilize data through search, visualization, and analysis tools integrated into the data catalog. Data consumers can reduce their reliance on other teams for data access and preparation.

Making data accessible prompts another problem - assessing which data to trust. Data quality tools are just as important, providing the confidence in information through:

• End-to-end lineage: End-to-end lineage maps the journey of data, ensuring users understand its origins and transformations. This visibility builds trust and allows teams to address issues proactively.

  
  

• Matured data quality processing: Modern data quality tools reduce the complexity of data quality processing while increasing the performance of data quality rule execution. Data quality rules are executed as close to the production of data in transactional applications as possible.

  
  

• Seamless Integration: Data quality tools are often partnered with data cataloging tools, allowing an accessible ecosystem between both.

  
  

• Observable Data Health: Observability helps track key metrics like data freshness, accuracy, and reliability, enabling teams to detect anomalies, prevent downstream issues, and maintain trust in their data pipelines.

As insurance firms wrestle with a growing volume and complexity of data, investing in data catalog and data quality tools are proving indispensable. We can embrace the irony – the future of data is not just about more data, but better data.

At PremiumIQ, we bring deep expertise in P&C insurance data, helping insurers use the full potential of their data assets by modernizing data catalog and data quality tools. From planning roadmaps, migrating data ecosystems, and deploying new solutions, we guide clients through every step of the journey. Our governance and stewardship operating models are tailored to client organizations, improving enterprise data strategy, governance, and quality.

Everyone can benefit from improving the data consumer experience. Data consumers themselves have greater opportunities to make better decisions, foster collaboration, and build trust in the enterprise’s data environment. In turn, insurers can build more personalized policies and enhance trust with their customers. Everyone eats – when data consumers are well-served, the whole enterprise thrives.