BoE updates on data and analytics strategy

The BoE has provided an update on its data and analytics strategy, aimed at making it easy for everyone at the BoE to work with and analyse data which should lead to many benefits including more effective decision making, efficiency gains and risk reduction (its “mission”). The foundations it has laid for the success of the strategy are using the cloud for access and effectively managing the necessary changes in business, skills and culture.

The BoE feels it has made significant progress in its aims and in the next year is looking to:

  • establish cloud capabilities and deploy them for priority use cases
  • enhance D&A policy compliance
  • deliver on use cases for AI and machine learning
  • enhance support for business change and D&A skills and culture
  • improve availability of data
  • collaborate with other organisations and
  • develop a roadmap for reporting.

James Benford, the BoE’s Chief Data Officer and Executive Director for Data and Analytics spoke on the strategy and its desired outcomes.

Emma Radmore