14 Nov How data governance can support your projects and set them up for success
Data governance is often one of the most underrated aspects of data strategy and management. However, it is also one of the most vital.
Data governance lays the groundwork for successful data management. It gives businesses a framework for managing interactions, structures, policies and quality that will increase the value of information, while minimising the costs and risks of holding it.
It provides a framework from which to assess established standards, accountabilities and responsibilities, so that the business can move forward safely.
Importantly, governance helps projects transition to BAU. Clarity on ownership, definitions, standards and clear documentation means your investment will have the best chance at delivering against expected benefits.
In this article we’re looking at why it’s important to get data governance right at the start of a project.
5 reasons data governance is so important as an initial measure
InfoCentric’s Data Governance and Information Management framework will help your project ensure it’s set for success. Here’s why it’s so vital to get it right at the start.
Data governance speaks to all areas of the business
Effective governance facilitates clear accountabilities and responsibilities for data ownership, processes and systems to support the business.
A lack of understanding on how the business needs to support data will ultimately lead to poor decisions, frustration and lack of buy-in later down the track.
By bringing all areas of the business in at the start against a robust framework, you can ensure that there is clear alignment with overall business strategies.
It informs change management efforts – training and education especially.
InfoCentric’s methodology surveys your organisation’s data practices to assess your strengths, weaknesses, opportunities and threats. From here, your project can see where there are gaps and shortcomings.
For example, understanding that there are literacy gaps around what data ownership means allows your project to engage stakeholders with this in mind. By educating candidate owners of the accountabilities they take on, the project will be able to transition to BAU with a stronger chance of success.
By investing in data governance at the start, the right levels of data literacy education and training can be planned and developed to support the program.
Without it, risks can go undetected
Data governance provides an accurate picture of the weaknesses and risks your data could be subject to. At InfoCentric, our unique IP allows us to identify your dormant capabilities, as well as highlighting any immediate risks to your business.
We can also provide scanning of your information and data environments to detect sensitive data (eg. Personal, Credit and Health Identifiable Information) wherever it’s stored. This provides immediate ability to reduce your information exposure, and provides valuable inputs into the information management and data governance strategy.
Change is a major vector for potential cyber and information risks, so understanding and ensuring a robust framework for information management is essential.
Data governance can streamline data and reduce workload
Adherence to standards that are facilitated by governance is another important step in project transition.
By providing an accurate picture of the data that a business has to handle and the environments in which it is managed, data governance reduces the duplication of data management efforts.
By streamlining data operations, governance in the early stages can reduce errors, reduce workload and reduce cost. The result is increased data quality and a more coordinated approach to data strategy in BAU.
It’s vital for goal setting
Data governance is rooted in accountability. By making it clear who is accountable for each area of data management, stakeholders can assess where they are currently at (the current state) versus where they want to be (the future state).
In this sense, having a clear picture of the way data is currently managed is essential to future goal setting.
Work with InfoCentric to get Data Governance right
We’ve helped dozens of organisations across almost every industry mature their data management capability. Using our tried and tested methods and pragmatic and proprietary methodologies, we can help you too. Get in touch today to see how we can help.