Data governance is the process of managing the data’s usability, security, availability, and integrity within an organization using internally set and enforced rules and policies. Effective data governance ensures that data is consistent, accurate, and secure and that it is not misused.
Why does it matter?
Data governance is a must for any organization that seeks to use its data for analysis. It creates an environment where data can thrive as a source of actionable insights that enable the organization to thrive. Without it, data may fail to meet the quality standards required for usable insight extraction or may be exposed to security threats that compromise its integrity, putting the enterprises at risk of legal action.
Data governance improves reliability across all the organization’s businesses thereby making efficient data integration possible. For instance, a distributor’s name may be mentioned differently in the procurement office and the factory’s database. Analysts who have never interacted with the supplier may pose a challenge during data integration.
Governance ensures that there is uniformity and that the analyst does not need to consult the departments generating the data in order to gain an understanding of the data. It goes beyond insight extraction and security by governing who within the organization has access to the data and how they do so. It is therefore important to understand what data each individual member of staff needs before setting the rules or policies of accessing the data internally.
1. A key goal of data governance is to break down data silos in an organization.
2. Ensuring proper use of data.
3. Improve data quality
4. Ensuring compliance
Data Protection regulations such as GDPR, PCI DSS, and US HIPAA are very strict on how data should be managed. Failure to comply with these laws can lead organizations to incur hefty fines and damaging their reputation. Data governance takes into consideration applying laws early on thereby protecting the organizations’ data.
Strong governance ensures that all points of data creation function with data quality as a priority. This leads to an overall improvement of data quality within the organization.
Data governance works like an address book for all the data in the organization. This ensures there is no data that is isolated by errors of commission or omission from the overall organization’s rules and policies.
The code of conduct and rules established by governance ensure that data management is made easier. It makes it possible for the management of the data’s security and legal compliance.
Strong governance ensures that the data is secure in storage when it’s being accessed and high quality when being created. The governance matters to an organization that intends to use their data for analysis and remain compliant because it ensures consistency, integrity, and security of the data. By improving data quality and proper data use, increases efficiency within the organization and saves a lot of time for the data users.
To successfully implement it in an organization, the data users should be trained on the policies of governance to ensure they understand what will be required of them. DQLabs’ agile data governance tool makes it easier for an organization to set up strong governance by providing a framework that is comprehensive and is guaranteed to increase the organization’s data value as well as ensure compliance.