Meaning and Objective of Data Governance

Data Governance is the ability of an organization to manage knowledge you have about your information so you can answer questions such as: what do we know about our information?, Where does the data? These data are aligned with our company policy? The data is always linked to the IT department, and so far it was exclusive. But in many cases, you cannot reduce its management to that department and the data of the entire company is being treated and the objective of the Data Governance Industry is to give them a global meaning.

The Data Governance function establishes the framework in which all other functions are included. Through this function, quality is proposed, for example, the accessibility of the data, which is later available through the corresponding function, which indicates the precise meaning of this principle that makes the data accessible.

The Key Importance Of Data Governance

Achieving good governance and enterprise data management involves addressing the management of data as they are an asset of great value both operationally and to create market value and turn them into critical business information. As noted by David Newman, vice president of research at Gartner, “a high percentage of organizations around the world are dedicated to the management and development of data as an asset of the company.”

That optimal management of key data for business success requires a framework that embraces data governance, understood as the exercise of designing, controlling and monitoring everything related to data from a holistic approach, in which those involved participate, from the corporate governance of the company and the IT department to a data management council that represents the stakeholders.

The function of data governance is to ensure that all data functions are performed most efficiently, complying with the planned. It is, in short, to ensure that the data meets the demands while achieving a cost reduction in

terms of its management and its protection, the latter an important aspect in terms of compliance with regulations and the preservation of privacy.

Best Advantages Of Being In Data Governance Industry

“Data is the most important asset of an organization and, without standards and data quality, the organization does not work, ” says Valeh Nazemoff, senior vice president and co-founder of Acolyst. Not surprisingly, the same need to apply a data governance policy demonstrates the importance and value of data within the organization.

Top 7 Best Advantages Of Being In Data Governance Industry

1. Accessibility of the data: We achieve greater accessibility of the data that, in turn, will be timely and reliable, always depending on the defined policy and global significance.

2. Managing data as an asset: The management and development of data as an asset will help satisfy internal users and customers, as well as make better and faster decisions, as we will have reliable and accessible information when we need it.

3. Ensure that the data meets the demands: It refers to the timeliness and quality of the data as a result of the application of a data governance project.

4. Ensure integrity: Data governance avoids and prevents inconsistencies between different systems or applications, with the advantage that, for example, this means that there is no lack of data when operating, making evaluations or offering a certain service or information.

5. Respond to current demands: Establishing a framework for data governance helps us achieve greater availability, ease of use, consistency, integrity and data security, key requirements to support the most current BI initiatives, which typically require applications Fast, with real-time access to data.

6. Manage and Improve Information: Data Governance Strategy provides a holistic approach to manage, improve and leverage information so that it can help us gain insight and build trust in business decisions and operations.

7. Add value: A data governance plan, finally, helps define and establish the different types of communication needed to add value to the organization from a global vision capable of transforming the business as a whole. Management teams can make informed decisions based on more reliable data. Let’s not forget that critical information is relevant, if not essential, for making decisions.

When data governance is deficient or simply lacking, data is not integrated into a holistic concept of information knowledge and its control, which is then done by departments or systems of the Data Governance Industry, becomes a pending task. Therefore, that approach or general vision is lost, essential to achieve a necessary coherence.

Within this context, ignoring the decisive nature of data governance is a more direct path to a lack of control in data management. Data Governance Strategy ensures that data is clean, structured secure and accurate. On the contrary, data governance (the heart of data management), fulfills an interactive control and coordination function between the different areas of the company, defining roles and responsibilities and establishing standards, policies, and processes by consensus.