Equally important, it defines standards to make sure your data is accessible and is captured and used ethically, safely, and in compliance with necessary regulations and legislation.īut data governance is not just about roles and responsibilities. Plus, good data governance provides the assurance you need that your business-critical data assets are fit for purpose and being looked after properly.ĭata governance captures the requirements and specifications you need to get the most out of your data. It helps you understand the business use cases and outcomes supported by different data assets. It helps build a culture that values data and promotes investment in data assets - all with the goal of supporting stronger data and business performance, decreasing risk, and enabling increased value.įrom a practical perspective, data governance includes defining and overseeing the roles, responsibilities, and processes for collecting, storing, processing, maintaining, sharing, accessing, using, and disposing of data.ĭata governance helps define and assign the roles, accountability, and actions needed to keep your data assets in tip-top condition. Good data governance provides the structure you need to execute your data asset management strategy and extract maximum value from your data assets. It establishes the conditions needed for data to successfully support your business needs and add value to your company. We’ll also explain the key benefits and guiding principles of data governance.ĭata governance promotes an environment of trust, transparency, and ownership of your data. To help you better understand this important capability, we’ll use this page to answer basic questions around what is data management and why it matters for your business. Whether you’re a data professional or a business leader, you should be focused on data governance and excited by its benefits for your business.ĭata governance is a key enabler of digital transformation and an essential tool of both data and business leaders at successful companies around the world. The key to doing all these things is data governance. To succeed, you need to foster trust in your data, create a data-friendly company culture, and implement practices that support data-driven decision making. You want to use it to fuel growth and improve performance at your company. You know this, and you’re likely working hard to understand the value of your data. They use it to better understand customer behaviour, spot market trends and take advantage of new opportunities more quickly than the competition. The most successful companies harness the power of their data.
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