Data Governance

Data is the most valuable resource in the modern economy. This value can be unlocked with reporting, analytics, machine learning, and artificial intelligence to drive increased revenue, achieve business strategy, improve efficiency, and reduce risk. Yet all too often we focus on the technology that extracts the value from data, rather than the data itself.

The hard truth is that it takes a lot of effort to manage data well, and poorly managed data causes business problems, sometimes very big ones. But what does it take to manage data well? This is where Data Governance comes in. Data Governance is a relatively new discipline that seeks to identify what good data management practices are, and make sure the accountabilities for these practices are clearly distributed.

It was at this point that most organizations realized they needed a function to make sure that the enterprise data resource was well-managed, and Data Governance was born.

Fig.1 Data-centric projects seek to extract value from already existing production data. By contrast, process-centric projects try to automate a process. IT traditionally thinks in a process-centric way. We need Data Governance to ensure knowledge about data is captured during a data-centric project, rather than just assumed, and that it is preserved for future reuse.

DATA MILLENNIUM OFFERS FULL SPECTRUM DATA GOVERNANCE CONSULTING SERVICES.

WE CAN HELP TO:

BUILD YOUR ORGANIZATION’S DATA GOVERNANCE FUNCTION BASED ON THE MOST SUITABLE OPERATING MODEL.

PRIORITIZE AND DEVELOP SPECIFIC DATA GOVERNANCE CAPABILITIES BASED ON OUR DATA GOVERNANCE FRAMEWORK.

SUCCESSFULLY DEVELOP AND INTRODUCE DATA POLICIES AND STANDARDS.

INTEGRATE DATA GOVERNANCE WITH CLOSELY RELATED FUNCTIONS LIKE: IT, ENTERPRISE ARCHITECTURE, LEGAL, HUMAN RESOURCES, AND INTERNAL AUDIT TO AVOID CONFLICTS AND ENSURE NOTHING FALLS BETWEEN THE CRACKS.

UNDERTAKE ORGANIZATIONAL CHANGE MANAGEMENT FOR DATA GOVERNANCE, IMPROVING DATA LITERACY AND ESTABLISHING A DATA CULTURE, INCLUDING A CAREFULLY CRAFTED COMMUNICATIONS STRATEGY.

THE BENEFITS TO BE REALIZED FROM DATA GOVERNANCE ARE NOTHING LESS THAN THE ABILITY TO SURVIVE AND THRIVE IN THE INFORMATION AGE.

FOR MORE INFORMATION, CONTACT US AT

contact@datamillennium.com

Fig. 2 Data Governance has many diverse elements. The point is not to be overwhelmed by all of it, but to recognize what has to be prioritized and to build capacities that are sufficient for the organization’s needs, but no more.

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