Top Professional Tips For Better Data Governance

top professional tips better data governance analytics

Data governance sounds like something that the government has a hand in. Maybe it invokes a feeling of Big Brother spying on your personal or business data.

So, what is data governance in reality? It includes data assets and a governing body. It can be considered data stewardship. It comprises a council or a governing body that has procedures and a plan on executing them. Data stewardship works to help others gain a better control over data assets. This includes methods, technology and behaviors around the proper management of a company’s data. It is the act of protecting data. Especially data that includes people's personal information. This includes security, privacy, integrity, compliance and management of the internal and external data within a company. 

Data is an organizations most valuable asset and it must be watched over carefully. This is the job of the data steward. From the time of the first computer data has been important. Starting with punching cards data should have been governed daily. Technology has advanced so that punching cards is a thing of the past, but data has not changed. With the importance of data being kept safe we need a data governance framework

Data governance can shape the corporate philosophy of how data is acquired along with its management and how the data is archived. It is necessary that both the business and the IT sides of a company blend together so they can decide on the rules that govern the data applications. A comprehensive data governance framework touches on every part of a company’s data. It even affects the process that is used to create and keep data. When you use the rules, created it helps a company to make faster smarter decisions. 

When companies do not have a framework in place, it could lead to its collapse such as what happened to Enron. Regulations such as the Sarbanes-Oxley Act and the Dodd-Frank Act are making companies’ take better care of their data. 

The first thing that needs to be done is to realize that data is about people along with both empowerment and accountability. Governing data requires risk management and information security. Any time a concern or recommendation comes up we should take it into consideration. We can do this through open dialog and workshops. It is necessary for a company to provide training to the people who will access the data. 

Data cataloging and data literacy are important for maximum security, quality and value of the data. When cataloging data which includes automated metadata harvesting and data mapping the data will be unified under business requirements. A company also needs to make sure that the people who will access the data or even managing the data know exactly what the data is and what data is available. 

There needs to be standardized terms in place. This is because elements of data mean different things to different people and their different roles. A business glossary would answer this problem. 

Governing data is an on-going process. It is important for a company to prioritize the first areas for focus. Then build from there for better data.

Official Bootstrap Business Blog Newest Posts From Mike Schiemer Partners And News Outlets