Across all industries, firms are embracing cloud technologies to advance their digital transformation and business strategies. Yet there is a gap in understanding and applying the optimal data management capabilities required for successfully migrating and managing sensitive data in the cloud, and leveraging the cloud for data enablement to drive business value across the enterprise.
To address this issue, the EDM Council formed the Cloud Data Management Capabilities (“CDMC”) working group. The CDMC working group was managed by the EDM Council and co-chaired by Morgan Stanley and LSEG, with participation from the world’s top Cloud Service Providers (CSPs) AWS, Microsoft Azure, Google Cloud, IBM and 100+ leading cross-industry firms. CDMC v1.1 was released September 2021 and is now available to all companies and establishes a data risk governance and control framework for cloud, multi and hybrid cloud environments.
