The constantly changing statutory and regulatory requirements as well as new digital business demands (e.g. arising from the support of AI) create massive challenges for companies. Having clean data, knowing its content and classification, correctly aggregating it across different levels and having a clear view who is accessing the data set and for what purpose is proving difficult, due to the volume, various data sources, unclear or non-existent responsibilities and decentralized company structures.
Data Governance layers a management structure on top of data to assure data is identified, registered, categorized and continuously managed. Its function is to be the decision-making instance on data ownership, data maintenance throughout the data’s entire life cycle, data quality and data compliance. It also specifies and controls the rules concerning the usage, access, aggregation and flow of data.
Data Governance thus serves several purposes:
Having good Data Governance means being able to self-clean the company’s data over time. You start with the highest priority areas and then work your way up step by step until you have achieved adequate data quality.
Data Governance brings substantial benefits to your company in different areas:
When running digital initiatives, Data Governance is an integral part of successful digital transformation strategies. Far from being a pure IT task, it is located at the interface of several areas and determines to what degree and at which speed the company can change itself. Moreover, it is not a single task or an individual project that is carried out once, but rather an ongoing company-wide change in organization and management.
1. Define your data governance organization
2. Define roles and responsibilities and train staff
3. Define and prioritize what you want to achieve
4. Define and allocate sufficient resources
5. Start small, act fast and immediately replicate what has proven to be successful