How Data Governance Enables Analytics and Drives Business Growth
When
it
comes
to
data,
the
first
question
isn’t
whether
you
can
measure
something,
it’s
whether
you
should.
What
you
can
or
should
measure
impacts
what
you
can
do
as
a
business,
potentially
affecting
your
business
model.
When
it
comes
to
data,
the
first
question
isn’t
whether
you
can
measure
something,
it’s
whether
you
should.
What
you
can
or
should
measure
impacts
what
you
can
do
as
a
business,
potentially
affecting
your
business
model.
Along
with
respecting
regulatory
compliance
requirements
and
the
privacy
rights
of
individuals,
it’s
necessary
to
consider
the
business
value
of
data.
You
can’t
run
a
business
if
you’re
unsure
about
data
protection
mandates
or
what
can
be
measured.
That’s
why
data
governance
must
underpin
the
business
model
and
strategy.
It
needs
a
seat
in
the
executive
suite.
The
introduction
of
GDPR
and
other
data
protection
regulations
have
forced
every
business
to
be
aware
of
data
privacy
boundaries:
What
data
can
be
measured
and
stored,
and
who
has
access?
Data
governance
ensures
only
authorized
individuals
have
access
to
specific
data,
with
controls
to
protect
sensitive
data
such
as
personally
identifiable
information
(PII).
Getting
it
wrong
has
serious
legal,
financial,
and
reputational
implications
for
your
business.
A
strong
legal
team
with
data
privacy
experience
is
fundamental
to
understanding
the
risk
and
interpreting
what
laws
affect
your
business.
It’s
a
complex
landscape
with
no
single
regulatory
body
and
rules
that
vary
from
country
to
country.
There
must
be
a
specific
group
within
IT
operations,
a
data
team,
that
ensures
your
business
collects
and
stores
the
right
information
and
controls
accessibility.
With
those
guardrails
in
place,
only
then
can
a
data
analyst
or
data
scientist
safely
access
and
interpret
that
information
to
create
business
value.
The
Benefits
of
Data
Governance
Data
governance
delivers
a
straight
quantifiable
return
on
investment
with
improved
operational
efficiency
and
reduced
business
risk.
For
example,
having
employees
searching
through
reams
of
data
that
have
no
impact
on
business
outcomes
is
a
waste
of
time
and
money.
But
with
structured
policies
in
place
that
determine
who
should
have
access
to
what
data,
you
can
avoid
that
problem.
Plus,
access
to
confidential
information
is
carefully
controlled,
reducing
the
risk
of
costly
data
breaches
and
compliance
failures
while
providing
measurable
financial
benefits.
Effective
data
governance
also
creates
a
competitive
advantage.
As
a
compliant
business,
you’re
able
to
enhance
your
brand
by
building
trust
with
consumers
and
partners.
Key
Steps
to
Building
a
Data
Governance
Strategy
Comprehensive
data
governance
must
be
planned
and
implemented
as
early
as
possible.
Here
are
key
steps
to
building
an
effective
strategy:
-
Appoint
a
data
champion
on
the
executive
team
to
lead
the
charge
and
incorporate
data
governance
into
your
business. -
Build
SMART
(specific,
measurable,
achievable,
relevant,
time-bound)
data
goals
that
add
business
value. -
Develop
a
data
dictionary
with
a
well-documented
glossary
of
metrics
for
your
business. -
Categorize
and
determine
what
data
is
confidential
to
reduce
legal
risk,
improve
operational
efficiency,
and
build
a
competitive
advantage. -
Establish
privacy
and
governance
policies
to
ensure
you
collect
the
right
data
at
the
right
time
and
limit
access
to
necessary
individuals. -
Build
infrastructure
and
systems
to
back
up
your
policies
along
with
the
budget
to
support
them. -
Base
all
infrastructure
and
data
platforms
on
security
to
ensure
data
is
used
responsibly
at
all
times. -
Communicate
with
the
business.
Data
governance
should
be
well
understood
by
company
executives
and
respected
as
a
critical
part
of
day-to-day
operations.
Streamlining
Data
Use
Data
access
can
be
streamlined
by
establishing
workflows
that
automatically
route
requests
to
the
right
people
and
instantaneously
grant
access
once
approved.
This
takes
pressure
off
the
data
team,
empowers
data
owners,
and
ensures
everything
is
monitored
and
governed.
Preparing
for
the
Future
Data
privacy
is
complicated.
Security
will
continue
as
an
essential
part
of
the
data
governance
journey.
Data
governance
must
continually
evolve
in
step
with
regulatory
changes
and
new
business
opportunities.
Subsequently,
businesses
should
consider
future
scenarios,
create
a
multi-year
plan
and
shore
up
data
protection
defenses.
To
achieve
enduring
success,
companies
must
have
the
technology,
people,
and
processes
in
place
to
support
data
governance,
enable
analytics,
and
drive
business
growth.
Get
your
data
governance
program
blueprint
for
the
five
components
every
data
governance
program
must
have,
including
pitfalls
to
avoid
and
six
best
practices
to
employ.
Download
the
whitepaper.
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