Overcoming common Data Governance challenges

Data is at the center of People, Process, and Technology, representing a crucial asset used by all three.

Simply put, people should embed data in any project to ensure that organizations follow a defined road map around enterprise data governance; technology can also help enhance and automate several processes and transactions.

Any organization's most critical assets are its quality data and data governance framework, which should be applied across the various applications, systems, and data services within the organization. Our team of experts at Data Ideology work to ensure that data is centrally managed and governed across all enterprise platforms in the following ways and steps:

Enterprise data standards

Developing enterprise data standards makes it easier to share and leverage data across various business units. One of the key benefits of establishing data standards is to give data the consistency it requires to be shared across multiple business units. It's essential to help business users succeed with a single source of truth for reports and analyses, creating momentum moving forward and connecting timely information across various operational processes and business decisions and campaigns.

Holistic data governance

Data governance policies should be administered broadly across the organization and directly applied to data access and use regarding any scenario in real time. A significant benefit of holistic data governance policies is that the business and technical users can now put these policies into practice to develop data solutions on an ongoing basis.

Meta-data management

Meta-data management is necessary to enable business and IT users to maximize their data assets' value. Meta-data management capabilities can support the development and deployment functions across various Enterprise Data Management functions. Leveraging meta-data management can benefit master data management (MDM), data integration, and data quality (DQ) capabilities. Many organizations already have technology solutions with capabilities in this area and should expand it as a requirement to drive additional value and achieve their goals.

Build a data catalog to enable meta-data management

Building a catalog of available data enables a wide range of business and technical users to understand and work with the data in a more meaningful way. Business metadata with a data catalog is an essential opportunity to unlock the value of self-service and advanced analytics. The primary benefit is that the non-technical business users have the ease of use necessary to work with data, utilizing a business-friendly mindset on a regular basis.

Executive support is essential for long-term success.

Data should be a centrally managed asset and resource that requires support from senior management and the highest levels of any business operation. The cross-functional challenge of integrating data means that support from senior leaders and stakeholders across the business and IT departments is a critical element of success and effectiveness and achieving core business goals. The benefits come as the organization matures its data management capabilities and priorities and can efficiently utilize data in operational and strategic analytical applications to capitalize on their data's value.

At Data Ideology, our team of subject matter experts and business analysts understand data governance and utilize it as part of our approach. We have helped organizations of all sizes and across various industries with day to day data governance activities and initiatives. More importantly, we work to engage the businesses and gain support from senior executive leadership teams, enabling us to deliver value and surpass expectations by integrating effective data governance into any data related process or experience.

Written by Mike Sargo
Mike Sargo is Chief Data and Analytics Officer and Co-Founder of Data Ideology with over 18 years of experience leading, architecting, implementing, and delivering enterprise analytics, business intelligence, and enterprise data management solutions.

Retail

A 360-Degree Customer View: Personalizing the Consumer Journey

Although achieving a 360-degree view of customers isn’t a new concept by any stretch, retail organizations are still struggling to achieve this critical feat from a data management perspective.
Banking & Financial Services

The Open Banking Movement is Open for Business

When it comes to financial services, people’s lives can be somewhat fragmented. Depending on the situation, they might be juggling two or three different financial institutions along with several diverse financial products.
Banking & Financial Services

Data Solutions that Improve Risk Management for Banks

An extremely vital aspect of the banking and finance sector is their ability to manage exposure to losses & risk and to protect the value of its assets.