Data Governance
Every organisation needs data governance.
Data governance refers to setting internal standards and policies designed to ensure your data remains accurate, available, usable, private, and secure. This is a process that includes the participation of people, processes, and technology and governs who can access what type of data.
Data governance also involves compliance with external standards set by the government, industry associations, and other stakeholders. At Data Analytics & Visualisation, we understand that every organisation needs data governance. As businesses go through a digital transformation, data has fast become the most valuable and sensitive asset they have. Businesses need reliable and timely data to make crucial business decisions.
Marketing teams need accurate data to find out the needs of the customers. Supply chain and procurement divisions need precise data to find out what inventories to order and to reduce costs. Data is also required by compliance agencies as proof that it is being handled in compliance with internal and external regulations.
Best Practices of Data Governance
The best practices for data security are based on data governance mandates. These recommendations are important and relevant to all businesses, no matter what their size. These practices are designed to help enterprises develop robust strategies for data protection that reduce the risk to customers, partners and stakeholders while improving data security and company brand value.
One of the major aspects of data governance practices is the need for broader transparency measures. This includes creating highly detailed reports, starting from business executives to entry-level employees. It is important to make sure that data does not become siloed.
A company’s governance practices can result in it getting a competitive edge as its business grows. With proper use of data and business intelligence, you can stay ahead of the game.
● One of the most important data governance practices is setting up data standards and leveraging technology to ensure those standards are implemented during data processing.
● Businesses should also consider automating enterprise data like workflows, processes, permissions, authorisation, approvals, and requests.
● Encouraging open and transparent communication whenever a new tool or process is integrated into the workflow.
● It is important to map out unstructured data in the form of folders, files, and shared resources.
● Set goals at every level that meets the regulatory standards of government and industry agencies.
● Identifying the data domains for each line of business like product, customer, vendor, etc.
Data Governance Consultancy and Training Services
Are you a newly-established enterprise looking for a data governance program or one that already has data governance policies but are concerned about the overall direction of your business? At Data Analytics & Visualisation, we can help you revamp your data governance program. We can work with you on a wide range of services, including:
● Evaluation of the data governance plan
● Brainstorming for data value optimisation
● Streamlining your processes and controls for effective data management
● Regular quality analysis for improvement
● Retraining your team
● And more…
Without effective data governance, enterprises are unable to access information, report inconsistent metrics, are levied with fines for failure of compliance, remain uncertain about data accuracy, lose their operational agility, and waste resources and money.
If you are looking for data governance solutions and services, reach out to us today.
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