It is important for businesses to implement the concept of data governance into practice for a variety of reasons. It ensures the security and integrity of the information your company holds and produces each day are documented, managed, and audited to prove compliance with laws and regulations.
Our Data Governance Process
As part of our systematic procedure, we create a report that lists the responsibilities and roles within the company. A domain owner is assigned to create a data domain that is included in the operating model and then added to the report. Using the report, we create a data workflow that prioritizes the data. Roles and responsibilities are then determined. From here, based on our experience, we can set the appropriate thresholds. We can identify the data sources that will be authoritative in the future and develop a roadmap for the business. After completing the report, data governance is implemented across the organization.
It Starts With Information
What is Data Governance?
The objective of data governance is to create a system of processes, roles, policies, standards, and metrics that help businesses ensure that information they have access to is used effectively and efficiently to reach their goals. It specifies which data can be acted upon, when it can be, and which methods to use while acting on the data.
What are the benefits of Data Governance?
There are many benefits to data governance for businesses:
- By doing so you achieve a consistent view of data and a common terminology, while business units retain their flexibility
- Data accuracy, completeness, and consistency are ensured
- As people find their way to unknown landscapes, it creates a physical landscape and makes data assets accessible and easier to connect with business outcomes
- Customer information and other business entities are viewed from a 360-degree perspective
- It complies with government regulations (GDPR, HIPAA, PCI DSS)
- Through consistent establishing of codes of conduct and best practices in data management, it brings the human dimension into the mix. It goes beyond conventional data and technology areas such as legal, compliance, and security.
Why should businesses implement Data Governance?
Businesses today have access to an incredible amount of data. They have information about their customers, clients, suppliers, employees, and more. By adhering to data governance, you ensure that your organization’s data is well-documented, easy to find, compliant, and secure. This reduces the risk of a data breach.