Nowadays, organisations stock incredible amounts of data about customers, clients, suppliers, patients, employees, and more. The better those information are used, the more the organisation will be successful. However, those data should be trusted, well-documented, easy to find and access within the organisation, must be kept secured, compliant, and confidential.
With today's fast-moving and highly competitive enterprise environment, market research and audience targeting rely a lot on data collection. Organizations have the opportunity to capture massive amounts of diverse internal and external data, that they can use to maximize their value, mitigate risks, and reduce cost.
Data governance (DG) is the process of managing the availability, usability, integrity and security of the data in enterprise systems, based on internal data standards and policies that also control data usage. Data governance is a collection of processes, roles, policies, standards, and metrics that ensure the effective and efficient use of information in enabling an organization to achieve its goals.
Effective data governance ensures that data is consistent and trustworthy and doesn't get misused. It's increasingly critical as organizations face new data privacy regulations and rely more and more on data analytics to help optimize operations and drive business decision-making. It establishes the processes and responsibilities that ensure the quality and security of the data used across a business or organisation. Data governance defines who can take what action, upon what data, in what situations, using what methods.
Typically, a data governance program includes a governance team, a steering committee and a group of data stewards. They work together to set up the standards and policies for governing data, implement and enforce procedures. They will ensure that roles related to data are clearly defined, and that responsibility and accountability are agreed upon across the enterprise. A well-planned data governance framework covers strategic, tactical, and operational roles and responsibilities.
While data governance is a core component of an overall data management strategy, organisations should focus on the desired business outcomes of a governance program instead of the data itself. Investments in data governance should minimise risk of data breaches and maximize the chance of desired outcome.
If you think that your organization need to review its data governance strategy, contact us. We will help you set up your data governance strategy and implement measures to secure your information system. If you want to know more about data creation, please follow the link below.