PowerPoint Presentation

Note: These slides were prepared for presentation at Open Government Forum. These slides are intended only as a primer on the basic topics covered; they reflect the authors views and not necessarily those of the Federal Reserve Board or anyone else associated with the Federal Reserve System. Open Data Efforts from aChief Data Officers Perspective

4/23/2014Federal Reserve Board2

Open Data 500 Study; Joel Gurin, Sr. Advisor, Governance Lab, http://www.opendata500.com/We have better and better evidence that the commercial application of open data is widespread and comes in many forms. 2014 feels like the year open data is coming of an age as a source for business ideas. Joel Gurin2 Introduction 4/23/2014Federal Reserve Board3Federal Reserve Board (FRB, Board)Mission to provide the nation with a safer, more flexible, and more stable monetary and financial system

Micheline CaseyFirst FRB Chief Data OfficerReport to FRB Chief Operating OfficerFirst U.S. State Government Chief Data Officer (Colorado)

Office of the Chief Data Officer (OCDO) was created through the Boards Strategic Framework, 2012-2015

. Introduction Office of the Chief Data Officer4/23/2014Federal Reserve Board4Started in May 2013Mission OCDO supports the Boards interdisciplinary approach to monetary policy, supervision, and financial stability through strategic thought leadership, policy setting, advisory services and collaborative outreach to optimize enterprise data and information assets. Enterprise data governance and data management services across Board and Board-delegated functions

United States Open Data Efforts Start at the Top4/23/2014Federal Reserve Board5

http://www.whitehouse.gov/sites/default/files/omb/assets/memoranda_fy2009/m09-12.pdfhttp://www.whitehouse.gov/sites/default/files/omb/memoranda/2013/m-13-13.pdfhttp://www.whitehouse.gov/sites/default/files/omb/memoranda/2014/m-14-06.pdfMaturation of U.S. Federal Government Open Data Efforts

64/23/2014Federal Reserve Board7Board Efforts in Support of Open Data74/23/2014Federal Reserve Board8Data Governance In Support of Open Data Data governance is the exercise of authority, control, and shared decision-making (planning, monitoring, and enforcement) over the management of data assets over their life cycle. Data governance efforts support the quality and integrity of open data efforts, resulting in enhanced public trustFederal Reserve Board data governance efforts include:OCDO data governance teamBoard Data CouncilSpecific data governance policies, processes, and standards for data management activitiesThe Board consumes data from other federal organizations and other open data sources so quality and access is important to us too!Data Governance supports Data Interoperability 4/23/2014Federal Reserve Board9Data governance supplies the discipline to deal with both the predictable and unpredictable nature of new data acquisition and data distribution across the organization. Systems can connect to one another, often through an explicit, agreed-upon interface.

OCDO94/23/2014Federal Reserve Board10Board Open Data Efforts Today Data TypesMacro-economic dataMicro-economic dataStatistical informationBanking and financial dataInternational economic dataPolicy making information

Board Open Data Efforts Todayhttp://www.federalreserve.gov/bankinforeg/default.htmhttp://www.federalreserve.gov/econresdata/default.htm114/23/2014Federal Reserve Board12

http://www.federalreserve.gov/datadownload/Board Open Data Efforts Today12

Board Open Data Efforts Todayhttp://www.federalreserve.gov/econresdata/notes/feds-notes/2014/a-tool-for-macroeconomic-policy-analysis.htmlhttp://www.federalreserve.gov/econresdata/workingpapers.htm

Board Open Data Efforts Todayhttp://www.ffiec.gov/nicpubweb/nicweb/nichome.aspx

Board Open Data Efforts Today

http://www.federalreserve.gov/monetarypolicy/fomc.htm15Users of Boards data4/23/2014Federal Reserve Board16

Open Data 500 Study; Joel Gurin, Sr. Advisor, Governance Lab, http://www.opendata500.com/164/23/2014Federal Reserve Board17The Future of the Boards Open Data EffortsStrategic activitiesDevelopment of open data strategy and planImprovement of user experience and usabilityOperational activitiesData governance efforts to support data quality and publication effortsStandards settingData portal creation and consolidation of existing web sitesSocial media efforts Leveraging social media to support communication out and engagement with the publicCrowd sourcing priorities for publications and enhancements17Transparency And The Government

Government should be transparent. Transparency promotes accountability and provides information for citizens about what their Government is doing. Information maintained by the Federal Government is a national asset. My Administration will take appropriate action, consistent with law and policy, to disclose information rapidly in forms that the public may readily find and use. Executive departments and agencies should harness new technologies to put information about their operations and decisions online and readily available to the public. Executive departments and agencies should also solicit public feedback to identify information of greatest use to the public. -Barack Obama, President of the United States.

"The complex challenges we face as a nation are best addressed in an environment of informed public discourse, which is only possible when policy decisions are made in as transparent a way as possible.-Ben Bernanke, Former Chair of the Federal Reserve 2006-2014

"The level of transparency and communication has increased by an order of magnitude (since the mid-1990s). -Janet Yellen, Chair of the Federal Reserve 2014-Present

4/23/2014Federal Reserve Board19Micheline CaseyChief Data OfficerFederal Reserve Board Micheline.Casey@frb.govThank you!http://www.federalreserve.gov/Follow us: @federalreserveFollow me: @michelinecasey