4.3. Shared Assets Name: Shared Assets Statement: Information and Data are Shared Assets. Rationale: • Information and Data are valuable enterprise assets, with clear accountability, and treated as ‘our’ data not ‘my’ data to fully deliver on its benefits. Implications: • Information / Data are enterprise assets, much like capital, human or intellectual property assets. • Most enterprise assets require careful management, and Information / Data are no exception. • Information / Data assets exist to respond to business needs, support decision-making, enhance operational efficiencies and provide effective service delivery. • Ownership resides at the enterprise level or higher, not at the individual or business line level. • Clearly assigned stewardship is key to managing day-to-day data activities and data quality but requires the authority and the means to do so to ensure authoritative decisions are taken by the right parties. • Discussion and decision forums and approaches must be inclusive, transparent, holistic and at the enterprise level and no longer strictly by business line or limited scope. • Value is derived from sharing by reducing the number of authoritative sources, obliging data quality, permitting horizontal use / re-use and aggregation / dissemination to tap into unknown potential, and by allowing faster yet secured access. • Managing and sharing requires policies, procedures, standards, roles & responsibilities, to govern data management capabilities and a significant cultural change at all enterprise levels. • Various artefacts and tools such as an enterprise data model and a business glossary will assist with management, communication and sharing in support of the enterprise mandate. References: • CDO