Challenge
The primary challenge was to develop and implement a data and information valuation framework that aligned with enterprise architecture principles and addressed the need to quantify the value of data to rationalise the value of data, data capture and data quality across Youth Justice processes. The existing data management practices recognised the value in creating a valuation model that considered both intrinsic and cost-value metrics, not to mention addressing risks to the effective governance and utilisation of valuable data assets.
Solution
Polaris Ventures developed a comprehensive data and information valuation framework, model, and process based on cost-value, intrinsic value, and Tamariki/Child/Youth-centered methods. This framework was applied across Youth Justice processes in collaboration with various teams, including Information Management, Privacy, Information Security, and Technology & Channels.
Key aspects of the solution included:
- Development of Valuation Frameworks: Created a robust data valuation framework that incorporated cost-value, intrinsic value, and data quality indicators, tailored to the public sector.
- Application of Frameworks: Applied the framework across Youth Justice processes, ensuring alignment with enterprise architecture standards.
- Support in Data Governance Establishment: Collaborated in establishing effective data governance practices, integrating enterprise architecture methodologies to enhance data management.
Result
The implementation of this framework led to (a):
- Public-Sector Friendly Data Valuation Framework: Developed a framework that incorporated intrinsic value and data quality indicators for 39 datasets worth up to tens of millions of dollars each. This approach is uncommon in the industry, where most frameworks focus solely on cost-value metrics.
- Data Governance Outputs: Produced critical data governance outputs, including a conceptual data model for the child data entity, proposed Child Master dataset, and reports on data capability maturity.
- Presentation of Assessment Results: Presented the assessment results, insights, and recommendations to the Corporate Services senior leadership team, ensuring strategic alignment with enterprise architecture goals.
This project stands out within the industry and globally for its innovative approach to data valuation and governance at the time, particularly (or potentially a first) within the public sector in New Zealand. The inclusion of intrinsic value and child-centered methods in the valuation framework sets a new benchmark for data management practices.