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Data Governance is the control tower in a Data Strategy, and it facilitates an understanding of data and the information life cycle.
Companies should have a tailor-made data governance framework that aligns with their needs and is based on the following pillars: organization, processes, technology, and continuous monitoring and improvement. This framework is a "must-have," and it's essential in today's business. Without governance, an organization's entire data set and the decisions that come from it are built on a weak foundation.
A Data Governance model must be tailor-made.
Principles of Data Governance
Based on our experience with clients, we find that there are seven key principles of Data Governance.
- Build a strong foundation for the deployment of analytics and the improvement of data management by standardizing definitions and use cases, and simplifying data structures.
- Ensure the business has ownership of the data to drive change management.
- Promote a unique data language within the company.
- Establish processes that ensure data quality, accessibility, and traceability with a focus on preventing incorrect data entry.
- Ensure regulatory compliance.
- Share data between departments to add more value.
- Provide the right tools for controlling and improving data quality and traceability.
Find out how to transform your data into strategic assets.
