Data governance provides a holistic approach to managing, improve and take advantage of the information in a way that can help us obtain information and build confidence in business decisions and operations.
The key importance of data governance
This optimal management of key data for the Business success requires a framework that encompasses data governance, understood as the exercise of designing, control and monitor everything related to data from a holistic approach, in which those involved participate, from corporate governance of the company and IT department to a data management council representing stakeholders.
The data governance function is to make all data functions perform in the most efficient way, as planned. Definitely, it is about ensuring that data meets demands, while achieving a cost reduction in terms of management and protection, this last important aspect with regard to compliance with regulations and the preservation of privacy.
Why is data governance necessary?
“Data is the most important asset of an organization and, no standards and no data quality, the organization does not work“dice Valeh Nazemoff, Senior Vice President and Co-Founder of Acolyst. Not surprisingly, the very need for a data governance policy demonstrates the importance and value of data within the organization..
David waddington, Senior Vice President and Co-Founder of The Information Difference Ldt. focuses the benefits of implementing data governance in nine aspects, that we summarize below:
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Support BI initiatives / Data Warehousing.
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Support an MDM initiative.
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Ease Legacy Data Migration.
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Comply with regulations and legislative requirements.
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Reduce business risk.
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Improve business flexibility and business agility.
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Supports operating software updates.
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Reduce costs.
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Support the management of mergers and acquisitions.
All of them, undoubtedly, are interesting reasons that, alone or together, justify data governance. Besides these, we highlight the following:
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Data accessibility: We achieve greater accessibility of the data that, at the same time, will be timely and reliable, always based on the defined policy and global significance.
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Make sure data meets demands: It refers to the timeliness and quality of the data as a result of the application of a data governance project.
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Manage data as an asset: The management and development of data as an asset will help satisfy internal users and customers, as well as to make better and faster decisions, since we will have reliable and accessible information when we need it.
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Ensuring integrity: Data governance avoids and prevents inconsistencies between different systems or applications, with the advantage that, for instance, this means that there is no lack of data when it comes to trading, carry out evaluations or offer a certain service or information.
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Respond to current demands: Establishing a framework for data governance helps us achieve greater availability, Easy to use, consistency, data integrity and security, key requirements to support the latest BI initiatives, that generally require quick applications, with real-time access to data.
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Add value: Finally, a data governance plan helps define and establish the different types of communication necessary to add value to the organization based on a global vision capable of transforming the business as a whole. Management teams will be able to make informed decisions based on more reliable data. Let's not forget that critical information is relevant, if not essential, for decision making.
When the governance data is deficient or simply missing, data is not integrated into a holistic concept of knowledge of information and its control, which is then carried out by departments or systems, becomes a pending task. Therefore, you lose that focus or overview, essential to achieve the necessary coherence.
Within this context, ignore her decisive character of the government of data is a more direct route to the lack of control in the management of data. Conversely, data governance (heart of data management), fulfills a function of control and interactive coordination between the different areas of the company, defining roles and responsibilities and setting standards, policies and processes in a consensual manner.
Image source: Stuart Miles / FreeDigitalPhotos.net
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