Greater control = greater business benefits
To a lot of people the word governance means lots of red tape and restrictions, but it doesn’t have to be like this. In fact, it’s often the lack of sound data governance that prevents an organisation getting the most value from the data they hold.
So what are we talking about here? Data governance deals with the process of controlling the integrity, use, availability, usability and security of all data owned by or controlled by an enterprise. It’s like an insurance policy that protects you from bad decision making, loss of reputation, duplication of tasks, siloing and inward thinking.
Getting a grip on your data makes good business sense. Metadata – labelling and cataloging your data – makes it easier to locate and gives a better picture of what’s available, saving you time and money.
And remember, there’s no substitute for quality data. Poor data accounts for many failed business initiatives and reduced efficiency. It can even lead to penalties, fines, bad P.R. and loss of trust. Good quality data on the other hand will deliver greater insights, increasing business agility and productivity. Data governance helps you maintain sound processes and best practices to ensure the quality of your data at all times. It’s definitely not a one-off, but very much an ongoing process.
Tracking and tracing where your data came from and how it’s been used comes easily to hand under an effective data governance programme, so in a highly regulated industry, where auditing is a regular occurrence, it offers additional protection on another level.
Data governance is a protection against breaches too. It might not stop a hacker bent on accessing your data, but it will help to highlight exactly what has been compromised so you can best deal with it swiftly. No one wants to be fined or sued after all.
So a well-managed data governance programme, that’s run with the total buy-in of both senior management and key personnel within an organisation, delivers quality, organised and traceable data that is readily available to those who can turn it into business value.
Now that makes sense, surely?