More and more vendors in 2009 will be taking what they learned from past engagements in data governance and formalizing the offerings and maybe even find a way to have it adopted for their particular industry.
Case in point,
IBM Data Governance Council leads XBRL initiative to create new reporting standards for risk measurement.
IBM just recently announced (December 18, 2008) it is seeking input from banks and financial institutions, corporations, vendors, and regulators to create a standards-based approach to risk reporting.
So what is XBRL? [from the article]
The IBM Data Governance Council is exploring the use of Extensible Business Reporting Language (XBRL), a software language for describing business terms in financial reports, to risk reporting. XBRL could be used to provide a non-proprietary way of reporting risk that could potentially be applied worldwide. It is already widely used for financial reporting throughout Europe, Australia and Japan. The widespread use of this standard ensures adequate skills and understanding among firms and regulators.
For the complete article: Click Here
If your company is working on other industry-specific approaches, please share.
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