Data governance refers to a wide range of policies and procedures that control the management of data. Data governance ensures data is:
- Secured
- Trustworthy
- Documented
- Managed
- Audited
Simply put, data governance is the ability to ensure that data management in enterprises is of high quality throughout all phases. (Learn more about the differences in data governance and data management.
Organizations must have effective data management policies and procedures to improve business results and drive growth in a competitive market. There is a huge amount of information that businesses collect from both internal and external sources. Effective data governance is necessary to manage risk, use data efficiently, and reduce costs.
Why is data governance so important?
Data is, without doubt, the most valuable asset organizations possess. Data governance is about ensuring that data can be used, accessed, and protected. Good data governance results in better data analysis. This leads to better decisions and operations support. Additionally, it prevents data inconsistencies and errors that could lead to poor decision-making, integrity issues, and other problems.
Data Governance is fundamentally about improving data quality, decreasing data management costs, and increasing data access for all stakeholders. It leads to better business outcomes and decision-making.
A solid data governance strategy
A strong data governance framework is a great thing. However, there are specific organizational goals that you should keep in mind as you create and implement one that suits your needs. Every organization will have its unique plans. However, some key objectives can be used to guide you in the development and implementation of effective data governance systems. Here are some key objectives
Ensuring proper data use this prevents data errors and misuse of personal or sensitive data. Clear policies and procedures for monitoring and enforcement of those policies are the best ways to achieve this goal.
Conforming to all regulatory requirements, this is an accepted principle when it comes to data governance. But, it is something you should remember at all stages of development and implementation.
Data governance consultant helps in improving data security. It’s about ensuring all data is safe and that unauthorized access to data is prevented.
Implementing and monitoring data distribution policies. Although it is related to data security, this point is worth highlighting in its own right. A solid data governance plan should include details about how data can be distributed. These policies play an important part in preventing unauthorized access or use of data. They should be a focal point of any data governance framework.
These objectives will make it easier and more productive to create and implement a data governance structure. As you think about these objectives, be sure to include any additional goals that are specific to your company or may be required to meet certain organizational goals.
What should your data governance strategy include?
Data governance is a broad topic, as mentioned. Many elements make up a solid data governance system. It should start with policies, rules, procedures, and structures for data governance.
It is a good idea for these documents to be used as a guideline to help make sure that the procedures are directed and focused. These documents should include the following:
- A mission statement
- Quantifiable data governance goals
- Metrics that will measure the success of the goals
- Clear guidelines that detail who is responsible for each aspect of data governance
- Additionally, it is crucial to document the entire process and share it with all employees.
- To help with implementation and enforcement, some companies use data governance software. This is not an absolute requirement but many organizations choose to make use of this software for support.
- Program and workflow management
- Creation of data catalogs
- The development of policies
- Documentation
These software tools can help you ensure that your plans are effectively developed, implemented, and enforced.
Who is involved in data governance?
As you can see, building a strong and effective data governance team is crucial to the success of this process. Some key roles should be included on any data governance team, even though every team looks different.
The data manager is responsible to lead the design and execution of policies and systems as well staffing the data governance group. This role may be the chief information officer for some organizations. However, many prefer to have a manager of data governance.
Responsible for overseeing design and implementation
A data strategy that creates and implements strategic planning
A compliance specialist that ensures compliance with all regulations
Other than the core governance team and finance executives, data governance stakeholders include the board, directors, operations, marketing, sales, the CIO, as well as IT management. It is important to involve all stakeholders in the process. This can help you achieve better results.
