Data governance is the most important, yet most overlooked, part of creating an enterprise-level analytical system. It’s the key to making data-driven business decisions, but many enterprises don’t do it right – or not at all.
Data governance is defined as the specification of decision rights and an accountability framework to ensure the appropriate behavior in the valuation, creation, consumption, and control of data and analytics. It’s an umbrella term that covers distinct tasks, enabling a business to preserve, sustain, and extract value from data.
Why enterprises need Data Governance?
The goals and advantages of data governance are too many to name, but some of the most important are:
- Make confident, data-driven decisions
- Decrease the risk of regulatory fines
- Improve data security and minimize the risk of a breach
- Maximize your data’s income generation potential
- Designate accountability for information quality
- Enable better planning by supervisory staff
- Minimize or eliminate re-work
- Optimize staff effectiveness
- Establish process performance baselines to enable improvement efforts
Curious about how the Data Maturity Assessment can take your Data Governance to the next level?