EDM Council launches a Cloud Data Management Capabilities Framework to ensure the better future of the Cloud. To make it happen, big tech giants of the present market- Google, Amazon Web Services, IBM, and Microsoft have joined their hands for a brand new Cloud Data Framework. These tech giants will design a new Cloud Data Management Capabilities Framework i.e. CDMC framework.
About CDMC Framework Project
Talking about the history of this project, over 100 companies have already worked on the same project as per the data published by the EDM Council. These companies have developed comprehensive cloud management capabilities, implementation of multi-cloud, cloud, best practices for cloud, and other capabilities for a smooth integration of the cloud services.
The President of the EDM has officially released a statement regarding their new project which partners with the world’s mega tech giants. As per the official statement, “The EDM Council is honored to have facilitated the development of the CDMC framework to provide an auditable and certified cloud data management best practice available as a free license for all industries.”
The company aimed to design these new Cloud Data Management Capabilities for the financing sector only. However, later on, the council has said that the new CDMC will be widely available for other industries and not limited to the financing sector.
Talking about the current scenario, businesses of all sizes utilize cloud-based services for easy transformation of their data. The cloud acceleration has boomed over the last few months. With cloud acceleration, companies can share and interact with big data easily.
Google’s director of Product Management for Data and Analytics has clearly stated that cloud-based services are more reliable for companies of all sizes. The use and demand of such services will be higher than what it is now in the coming years.
“The speed at which businesses are able to respond to change is the difference between those that successfully navigate the future and those that get left behind,” Eryurek said. “The CDMC framework is going to be a tremendous resource for companies as they continue to accelerate their digital transformation and reimagine their business through effectively leveraging the power of real-time data.”
After hearing the names of these mega tech giants, people become curious to know more about this ongoing project and its deadline. As per the official words from EDM Council, this is the first time that four mega tech giants have decided to work on a single project collaboratively.
Morgan Stanely along with LSEG is leading this project with other group members. The CDMC workgroup has spent over 18 months on this particular project.
Furthermore, the CDMC framework is split into six components so that the teams can work easily and accomplish their given tasks on time. The project has over 14 capabilities and 37 sub-capabilities. These capabilities will be designed to make the management of the cloud and their deployments for companies easier.
This means shortly, enterprises can implement and deploy cloud-based services on their own without technical help from professionals. The framework will make the deployment of cloud-based services much easier and faster with accuracy.
What are the six components of the CDMC Framework?
As noted above, the EDM Council has split the Framework’s project into six components which are listed below:
- Data Governance and Accountability
- Cataloging and Classification
- Data Accessibility and Usage
- Data Protection and Privacy
- Data Lifecycle and
- Technical Architecture
Amazon Web Services is a leading platform in cloud-based services. The platform offers a variety of cloud-based services at affordable rates. According to the managing director at AWS, the new CDMC Framework will be the primary resource for data management for all types of enterprises that use any of the cloud-based services.
The valuable resource will provide up-to-date information with best practices about the current trends and upcoming trends in various industries.
CDMC Framework’s Availability
The CDMC Framework will be made available for free for all the members of the EDM Council. The Framework will be distributed to each member of the EDM Council as a free license. It will also be available for non-members for some time for testing purposes.
The Global Financial Services Industries are facing different types of problems as they are unable to manage their data. For that reason, the EDM Council had decided to design an easy-to-use framework to simplify the processes for the Global Financial Services Industries. However, the framework will be made available for all the industries and not this particular industry.
About EDM Council
The EDM Council acts as a leading advocate for data management and analytics for businesses of all sizes. It focuses on the deployment and implementation of data standard cards, certification programs, and other sectors that need to be managed properly. The council has over 10,000 members with 250 member organizations across the globe.