VIDEO | B3, Director of Data & Analytics: Data Usage Is Supposed To Bring Business to the Company

(Latin America) Ricardo Leite Raposo, Director of Data & Analytics, B3, speaks with Maria Espona, Professor ArgIQ, and CDO Magazine Editorial Board Member, about the elements of a data governance framework, data quality, and risk management, and the “people” aspect of governance.

Raposo says data-driven is the first step in implementing a data governance framework. Data usage is supposed to bring business to the company and can be used for the business or as a business. Next, governance is adaptive. Companies must set up boundaries, and the industry must be allowed to work within these boundaries without controlling every step of the journey.

He then points toward the need to change the ownership — governance is supposed to allow everyone to use data without silos. The stakeholders also need to learn about data and its use for business.

Raposo talks about how to incorporate data quality and risk management. He says it is necessary to be obsessive about the return on investment. He also suggests that the investment will be more focused. For risk-based governance, it is not necessary to apply the whole governance. It can be done in smaller parts to learn and prove value. 

Sharing his views on the “people” aspect of governance, he says that this requires data ops with data governance. That way, data people can follow new product development or new data users, ensuring everything is running according to design.