Country for PR: United States
Contributor: PR Newswire New York
Thursday, July 30 2020 - 23:53
EDM Council Launches Cloud Data Management Work Group to Develop Best Practice Framework to Accelerate Cloud Adoption
NEW YORK and LONDON, July 30, 2020 /PRNewswire-AsiaNet/ --

EDM Council, the leading trade association for data management, has launched 
the Cloud Data Management Capabilities (CDMC) Best Practices Work Group. This 
new group includes participation from Amazon Web Services (AWS), Google Cloud, 
IBM Cloud, and Microsoft Azure, as well as over 20 leading financial industry 
firms. The Work Group has been formed to develop an open source CDMC Best 
Practice Framework to accelerate Cloud adoption and automate the associated 
controls. The EDM Council Work Group is being co-chaired by Morgan Stanley and 
Refinitiv, with project management provided by Capco.

Cloud implementations typically face a common series of complex data, 
technology, operational and control challenges. Industry also lacks a common 
end-to-end Cloud data management best practice framework. This Work Group will 
address these gaps by developing an open-source best practice framework based 
upon the EDM Council's Data Management Capability Assessment Model (DCAM®). 
DCAM is a formal framework used to assess a firm's data management capabilities 
and is maintained by the EDM Council. DCAM utilizes a consistent scoring model 
which has been adopted by 60% of financial organizations globally that use data 
management frameworks.

While the initiative is currently focused on the financial services sector, it 
will expand cross-industry to help firms in multiple verticals to navigate the 
growing complexity of Cloud adoption. Data security and privacy rules have 
become an even greater focus worldwide as the COVID-19 pandemic has forced 
firms to work remotely and reassess business strategies. This has increased 
cost and margin pressures, driving companies to accelerate Cloud adoption and 
leverage new data management practices. 

"We're experiencing a transformational moment in data management. Industry is 
rapidly evolving the need to securely access and extract value from exponential 
volumes of data via the Cloud," said John Bottega, President, EDM Council. 
"It's imperative that firms implement data management best practices in their 
Cloud strategies. We're confident that the CDMC Work Group will play a major 
role in crafting this best practice framework to benefit all industries."
About EDM Council
EDM Council is the global non-profit association created to elevate the 
practice of data management and analytics as a business and operational 
priority. The Council is the leading, global advocate for the development and 
implementation of data standards, best practices and comprehensive training and 
certification programs. With over 200 member global organizations representing 
over 10,000 data professionals from the Americas, EMEA and Asia-Pacific, the 
EDM Council provides a venue for data professionals to interact, communicate, 
and collaborate on the challenges and advances in data management and analytics 
as critical organizational functions. For more, visit

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