FDIC Information Technology Strategic Plan: 2017 - 2020: Goal 4

DESCRIPTION

As the financial system grows increasingly complex, The FDIC needs new capabilities to store and analyze large data sets that lead to the ability to make well-informed, evidence-based decisions. Using authoritative data requires improvements in stewardship, access controls, and management of structured and unstructured information.

OBJECTIVE 4.1

Further enable seamless data access, sharing, and integration

The FDIC will continue to develop, expand, and mature a high-quality, shareable, centrally managed Enterprise Data Warehouse (EDW) to support corporate reporting, analysis, and application development led by business divisions. Corporate reporting data assets will be consolidated in the EDW for access through secure, self-service capabilities. The FDIC will create standardized, enterprise-wide application programming interfaces (APIs) for all FDIC data subject areas to enable systems and users to securely access authoritative FDIC data sets. Programs will apply standard data architecture elements to facilitate sharing. The FDIC will create a centralized data security model to minimize the amount of data necessary to be stored on endpoint devices, reducing the risk of data loss.

OBJECTIVE 4.2

Mature enterprise information management capabilities

The FDIC will align its target enterprise data architecture with industry best practices and Corporate objectives to enable data access, sharing, and integration. The development, communication, and execution of an information management strategy and roadmap will facilitate the maturing of the FDIC’s information management capabilities. Developing an enterprise information governance framework will provide a forum for consistent and transparent decision-making.

OBJECTIVE 4.3

Create analytic capabilities to respond to emerging business scenarios

The FDIC will develop capabilities to analyze large data sets and unstructured information sources that have not traditionally been available for analytical research. Developing new competencies in data architecture, data analysis, and data visualization will require targeted training and hiring. Playbooks for managing and querying large, complex data sets will be developed.

OBJECTIVE 4.4

Use data analysis and visualization tools to inform and support decisions

By increasing data analysis collaboration across the FDIC, the FDIC will better leverage tools and information available to support decision-making. Expanding that collaboration to partnerships with external authorized users via a data analysis environment can further enhance the FDIC's analytic capabilities. New tools will further advance the FDIC's ability to visualize and communicate information and its implications. Internal capabilities will be advanced through workshops and other information exchanges.

OUTCOME

Data available for decision-making is well-described, properly classified, and centrally managed

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