Data Stacks—a 25 Year Journey that Began with MISMO

With the world focused on the upcoming presidential election, the mortgage industry is undergoing its own “watershed” series of transformations impacting regulatory landscapes, market dynamics, and of course, technological advancements.  Focusing on the last category, industry leaders typically highlight AI (artificial intelligence), data, and skills as enablers to future compliance and market opportunities.  However, maybe the most critical of all the evolving innovations and advancements within the industry revolve around a 40-year challenge—data.

Still today, data is the most common yet misunderstood set of challenges and opportunities facing an industry trying to determine a) where to invest their capital dollars, b) what cloud (i.e., non-premise) solutions to adopt, and c) how all the siloed applications with their own tightly coupled data can be used to deploy event-driven AI capabilities. 

Because of traditional application approaches, the terminology utilized to model the inherent modern-day data complexities and its continuous management tends to make for unfamiliar, esoteric industry discussions.  Applications are familiar, and easily internalized especially when considering incremental improvements or operational efficiencies.  From traditional industry approaches, data products without an application (mindset) are analogous to creating a home foundation without any blueprints on what to build upon it. 

It is this transformative unfamiliarity, which often makes data-driven discussions appear like academic theory or intellectual time sinks.  Yet, across technology disciplines, beyond industry events, and within research enclaves the focus is transfixed on data, stacks of data linked together.  Standardization of elements and interoperability are being used as building blocks (e.g., MISMO) for complex reuse, governance, and efficiencies well beyond the borders of their original principles of intent.

For the complete article, please see –> Mark Dangelo: Data Stacks—a 25-Year Journey that Began with MISMO – MBA Newslink