BACKGROUND IMAGE: iSTOCK/GETTY IMAGES
The Data3Sixty Inc. data governance platform helps organizations centralize metadata from multiple data sources into one repository. It provides features for documenting, defining, searching, and analyzing the data and sharing information and updates, offering the full capabilities of a master data management tool. Because it's cloud-based, all updates, maintenance and backups are handled by Data3Sixty while subscribers pay a set fee based on the number of employees using the software.
How does Data3Sixty support data governance tasks?
Data3Sixty's emphasis is on collaborative management of data assets. It provides users with social media-style features such as the ability to create and join communities, subscribe to events and items of interest, and follow people much like you would on social media platforms.
Data3Sixty provides several tools for defining and documenting data types, terms and tables. Its business glossary includes data definitions, synonyms, attributes and key business process relationships, as well as data lineage capabilities. This enables users to identify the owner, dependencies, origins and workflow associated with their data.
Data experts and users each have defined roles that provide different levels of access to different categories of data, as well as specific authorization actions. Some predefined roles include data steward, business owner, procurement owner, rule creator, reviewer and technical custodian. The roles are customizable so that each can be fine-tuned or new roles created specific to an employee's requirements.
The platform includes a set of standard reports that can be customized as needed. In August 2016, Data3Sixty added a real-time business intelligence capability that enables users to get quick answers to data queries as well as data visualization and drill-down capabilities for analyzing more complex issues.
Data3Sixty can also analyze data in terms of its compliance with corporate or external regulatory policies, such as Solvency II in the EU, the Fair and Accurate Credit Transactions Act in the U.S., and additional international regulations.
Data3Sixty's Fusion module makes it possible for users to import different types of metadata from a variety of enterprise applications. It does this through either application-specific connectors or a web service API. The Fusion component monitors for changes in the metadata in the source systems.
Who benefits from using Data3Sixty?
Financial services companies are the primary market for Data3Sixty, however the platform is suited for companies in search of a low-maintenance, cloud-based product that's designed for nontechnical users. Business analysts can quickly locate data and determine its suitability for their needs and identify and collaborate with subject matter specialists. The real-time querying and visual analyses capabilities are other benefits to business users, particularly executives and financial analysts who need quick answers to critical questions or need to monitor the health of their company's data at an aggregate level.
Data3Sixty is targeted at midsized and large companies. Its cloud-based subscription model provides a grow-as-you-go approach designed for organizations that can't invest in or aren't interested in investing in a major data governance implementation or have worries about costly, timely and complex upgrades.
How is this data governance platform licensed and priced?
The 2016 Q2 version of the platform is available as a cloud application running on Microsoft's Azure cloud service. The base price is $60,000 annually, which provides the full Data3Sixty infrastructure for 20 users as well as unlimited data storage and data feeds. Additional users may be added to the license at a tiered fee structure in which the incremental cost per user is reduced as volume is added. Companies can also purchase additional services such as software configuration or user training.
Companies can use information governance processes to tap into business intelligence
Avoid these data governance pitfalls
Sallie Mae shares insights on key data governance best practices