Thriving data cultures prioritize inclusion, collaboration, and transparency over command and control. They work iteratively vs. trying to "boil the ocean." But of course, this is easier said than done, right?
Dec 2022 How to fuel innovation with agile data governance
For 50 years, Verisk has been driven by a passion for using data and insights to make a difference.The company is at the forefront of developing innovations to help customers manage the risks they face. As one of the world’s largest analytics companies, Verisk has completed a number of acquisitions, and has a diverse technology stack that includes AWS, Snowflake, Databricks, Oracle, IBM, and Microsoft.
Partha Srinivasa is the chief data officer with a range of responsibilities including data governance, data optimization, monetization, and management. His search for a data catalog was driven by three key requirements:
Data discovery – Knowing what data we have, where it exists, who has access, and how it is being used. Once you have this information, you can better govern your data and reduce risk.
Data culture – By giving protected and governed data access to every single employee – not just IT – in the company, Verisk is driving the culture of data.
Data collaboration – Verisk has 1,000+ data scientists that not only need access to available information, but also to be able to collaborate across teams more effectively.
HQ: Jersey City, NJ
Industry: Data & Analytics for risk management
Ticker symbol: Nasdaq:VRSK
Challenge: Getting a holistic view of the company’s data and metadata for data governance and data monetization
Solution: data.world’s data catalog is at the core of Project Gateway, which connects the company’s ecosystem of data tools and delivers data governance, access, and collaboration.
Benefit: Because data is immediately available and easily accessible, the data.world data catalog enables Verisk to launch newer products faster and improves collaboration between business units.
“One of the biggest values from a user perspective was getting all of this information in a common place, which means a significant improvement in productivity of our data scientists. Our data scientists are always calling for new types of data that they can use in their models. This process used to take months to get that information. Now, they can go online and get this in minutes.”
data.world is also delivering on governance, inclusivity, and monetization.
“Now, because this data is immediately available, and easily accessible, it actually enables us to launch newer products. And last but not the least is basically we have seen a significant amount of collaboration between the business units.”
data.world is more of a strategic partner to Verisk than a SaaS product, which proved critical to the implementation and rollout.