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Generally Accepted Information Principles

November 15, 2021

Prerequisite: None

Doug Laney

Data and Analytics Innovation Fellow

West Monroe

Almost every industry sports a set of guiding principles and standards for how certain assets should be managed. For physical assets, financial assets, technology assets, and even human capital, accepted standards regulate the handling, flow, and utilization of resources. Yet no comparable overarching set of principles and standards exists for data. Rather, perhaps for lack of an authoritative data standards body, they are scattered across and buried with industry regulations. Moreover, we data professionals, rather than paying homage to the way other assets are managed, have been making it up as we go, creating an obtuse vernacular that further distances us from the business people we serve. 

One set of approachable frameworks, however, comes from the world of accounting: Generally Accepted Accounting Principles (GAAP)—a simple set of assumptions, constraints, and tenets that form the basis of all accounting. Borrowing this framework and sponging from other asset management standards, Mr. Laney will share and discuss the set of Generally Accepted Information Principles (GAIP) he developed that can and should underpin any data strategy, data management organization, or data governance initiative.

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