Would you like to improve your organization’s ability to consistently capture and use high–quality data at lower cost?
Do you want a data sharing policy that respects data privacy regulation and guides you in efficiently serving the information needs of a range of stakeholders?
Do you want to maximize the use of your technology solutions to meet your organization’s objectives and empower your staff?
Data governance is increasingly on the minds of business leaders. This is a result of significant growth in data, and growing awareness about data privacy and data breaches driven by consumer concerns. The Covid-19 pandemic is also creating challenges and opportunities for organizations to innovate with data. Careful management and monitoring of data assets have become essential to informed decision-making and risk management. Data governance enables you to keep the pulse on how your most important data is managed and used so that it provides decision-making value for your organization, clients, and stakeholders.
Growing urgency on critical sustainability issues like climate change in uncertain times is driving action in ways that data and digital collaboration can enable change.
What is data governance?
Below are two definitions of data governance. The second definition is the modern approach to data governance where collaboration and data literacy are the focus.
“Data governance is the exercise of authority and control (planning, monitoring, and enforcement) over the management of data assets.” This definition focuses on authority and control over data assets. Dataversity.net
“Data governance is the formalization of behavior around the definition, production, and usage of data to manage risk and improve quality and usability
of selected data.” Robert Seiner
The second definition focuses on formalizing behavior and holding people accountable while encouraging transparency, support, and collaboration. This approach captures current best practice and is the focus of the data governance framework below which InsightsFuture uses as a tool to explore data management and practice.
How can we help?
The support and tools we offer help you develop data governance policy as a living program within your organization or business unit. The tools, templates, and processes embedded in the framework provide a blueprint for you to consistently manage key data. By exploring use cases where data can create value or solve problems, you can establish a system that can be iteratively tested and improved over time. This system will provide the structure to ensure your data investments provide continuous value.
Identifying how your activities fit within the below framework for data governance can upgrade your ability to use data to deliver the most value in a way that is efficient, cost-effective, and in line with data privacy regulation. Learn more about the framework here.
If the opportunities above sound familiar, contact me to discuss your data-related opportunities or pain points and explore how the framework can be useful to get you on a path to more value and ease in using data.
Download the data governance framework graphic in higher resolution. Share it with your organization’s leadership and data champions.