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Introduction to Data Management Functions and Tools: IDMA 201 Course Textbook

Book Description

This textbook is for the IDMA 201 course in the IDMA Associate Insurance Data Manager (AIDM) designation program.

This course defines data management, describes the functions of data managers, provides the business case for data management and introduces the student to concepts and tools used by data managers.

Whether you are an actuary, a claims professional, business analyst, or almost any of the other key functions, knowledge of data management can help you do your job better and help you prepare, understand, and protect the raw material-the data-so critical to your organization.

IDMA courses, workshops, and forums are highly recommended for a broad audience including new hires, IT and data modeling professionals who want to broaden their knowledge of the business side of insurance data management, anyone who manages and governs data in the industry (statistical, or management information data), and anyone who needs to use or communicate good quality data/information - from actuaries to underwriters, and claims and analytics professionals.

Students who complete the four IDMA-developed courses and successfully pass the examinations are awarded an Associate Insurance Data Manager (AIDM) designation. The IDMA courses may be taken in any order; there are no prerequisites. However, the courses are numbered to indicate a recommended sequence.

Table of Contents

  1. Introduction
    1. Using this Textbook
    2. Exam Information
    3. Student Resources
    4. Contributors
  2. Assignment 1 Data, Information, and Knowledge
    1. Educational Objectives
    2. Data, Information, and Knowledge
    3. Data and Information as Assets
    4. How Managers Use Information
    5. Organizational Change
    6. Data Quality
    7. The Data Lifecycle
    8. Defining Data Architecture
    9. Defining Organizational Memory
    10. The Components of Organizational Memory
    11. Summary
    12. Bibliography
  3. Assignment 2 Introduction to Data Management
    1. Educational Objectives
    2. Data Management
    3. Data Management Functions
    4. Roles of Individuals in Data Management
    5. Groups Involved in Data Management
    6. Organizational Behavior and Data Management
    7. Enterprise Data Management
    8. Data Managers
    9. Data Management Best Practices
    10. Summary
    11. Bibliography
  4. Assignment 3 Data Standards
    1. Educational Objectives
    2. Standards
    3. Standards Development Organizations (SDOs)
    4. Reporting and Sharing Data
    5. Electronic Data Interchange (EDI)
    6. Standard Data Element Names
    7. Standard Data Element Rules
    8. Summary
    9. Bibliography
  5. Assignment 4 Data and Information Integrity
    1. Educational Objectives
    2. Data and Information Integrity
    3. Introduction to Relational Databases
    4. Data Integrity Issues
    5. Transaction Management
    6. Maintaining Data Integrity
    7. Disparate Data
    8. Integrated Data Resources and Common Data Architecture
    9. Summary
    10. Bibliography
  6. Assignment 5 Metadata and Metadata Management
    1. Educational Objectives
    2. Defining Metadata
    3. Metadata Management and Associated Challenges
    4. Semantics and Taxonomy
    5. Categories of Metadata
    6. Metadata Examples
    7. Metadata Quality
    8. Data Lineage
    9. Using Metadata
    10. Metadata Strategy
    11. Accessing Enterprise Metadata
    12. Summary
    13. Bibliography
  7. Assignment 6 Reference Data and Master Data Management
    1. Educational Objectives
    2. Reference Data and Master Data
    3. The Golden Record
    4. Drivers of Reference Data and Master Data Management
    5. Reference Data and Master Data Management Activities
    6. Principles in Implementing Reference and Master Data Management
    7. Data Integrity and Quality
    8. Summary
    9. Bibliography
  8. Assignment 7 Data and Information Governance
    1. Educational Objectives
    2. “Lumpers” and “Splitters“
    3. Governance
    4. Data and Information
    5. Data Governance and Information Governance
    6. The Importance of Data Governance and Information Governance
    7. Data and Information Governance within Corporate Governance
    8. Information Technology (IT) Governance
    9. Implementing a Governance Program
    10. Data Governance Roles
    11. Data Stewardship and Information Stewardship
    12. The Importance of Data and Information Stewardship
    13. Challenges in Implementing a Governance Program
    14. Responsibilities for Data Governance Decisions
    15. Summary
    16. Bibliography
  9. Assignment 8 Information Security
    1. Educational Objectives
    2. Classifying Information
    3. Personally Identifiable Information (PII)
    4. Laws and Regulations Regarding Personally Identifiable Information (PII)
    5. Implications of Poor Data and Information Security
    6. Loss of Data and Information
    7. Instituting a Data and Information Security Program
    8. Security Controls
    9. Backup and Recovery Procedures
    10. Roles and Responsibilities
    11. Summary
    12. Bibliography
  10. Assignment 9 Data Modeling Fundamentals
    1. Educational Objectives
    2. Basic Data Modeling Concepts
    3. Data Modeling
    4. Types of Relationships
    5. Understanding Relationships Among Entity Types
    6. Conceptually Illustrating Relationships Between Entity Types
    7. Judging Data Model Quality
    8. Summary
    9. Bibliography
  11. Assignment 10 Document and Content Management
    1. Educational Objectives
    2. Document and Content Management
    3. The Document Management Lifecycle
    4. Document Management Activities
    5. Content Management Activities
    6. Indexing for Retrieval
    7. Document and Content Management Risks
    8. Document and Content Retention and Destruction
    9. Audit Protocols
    10. Guiding Principles of Document and Content Management
    11. Structured and Unstructured Data
    12. The Importance of Unstructured Data
    13. Summary
    14. Bibliography
  12. Assignment 11 Business Analytics and Predictive Modeling Overview
    1. Educational Objectives
    2. Business Performance Management (BPM)
    3. Data Warehousing
    4. Processing Data for Business Intelligence
    5. Strategic, Tactical, and Operational Business Intelligence
    6. Defining Terminology
    7. Predictive Modeling
    8. Business Intelligence, Predictive Modeling, and Database Development
    9. Summary
    10. Bibliography
  13. Assignment 12 Data Management Trends, Technologies, and Frameworks
    1. Educational Objectives
    2. Facilitating Data Management
    3. Categories of Tools
    4. Buying vs. Building Data Management Tools
    5. Tool Evaluation
    6. Tools to Facilitate Data Exchange
    7. The Impact of XML
    8. Frameworks
    9. Enterprise Data Strategy
    10. Summary
    11. Bibliography
  14. Assignment 13—Course Textbook What We Learned From IDMA 201
    1. Educational Objective
    2. The Data Management Environment
    3. An Enterprise Data Management Culture
    4. Data Information and Knowledge
    5. Introduction to Data Management
    6. Data Standards
    7. Information Integrity
    8. Metadata and Metadata Management
    9. Reference and Master Data Management
    10. Data and Information Governance
    11. Data and Information Security
    12. Data Modeling Fundamentals
    13. Document and Content Management
    14. Business Analytics and Predictive Modeling Overview
    15. Data Management Trends, Technologies, and Frameworks
    16. Bibliography
  15. Index