Data Governance But How?
- Posted by: Candaş Üçer
- Category: Blog
Data governance refers to the policies and processes by which an organization manages the definition, use, quality, consistency, usability, security, and availability of its data and information. It is about knowing the quality of data and that it is fit for use.
Data governance ensures the right people are involved in setting data standards and defining data usage and integration across projects, subject areas and lines of business. It will influence IT strategies and technologies but must be driven by business needs and not by technology.
Data Governance is meant to address common enterprise data issues including:
Management of data as a Corporate asset
Data quality issues
Projects executed in silo fashion with limited data sharing across functions and lines of business
Inefficient (costly) management of data
A data governance program will allow for the management of information-centric processes across the enterprise and standardization of shared or common concepts, such as consistent and sustainable definition of business terms across systems or applications.
Employing a data governance framework and instilling diligence in a diversified organization will require significant and sustained executive sponsorship, business collaboration and change management. In addition, several key process decisions will need to be made and new approaches considered.
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.
- Increased profits:
The corporation will experience an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
- Higher business values:
The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
- Lower staff turnover:
This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organization.