Data Governance
Data is the most important asset
for organizations. Adherence to data protections laws is very crucial in this
digital world where everything revolves around data. Government regulations
such as GDPR ( General Data Protection Regulation) and LGPD in Brazil are used
to govern the use of data by organizations.
According to Oracle, ‘’Data governance is the specification
of decision rights and an accountability framework to encourage desirable
behaviour in the valuation, creation, storage, use, archival and deletion of
data and information. It incudes the processes, roles, standards, and metrics
that ensure the effective and efficient use of data and information in enabling
an organization to achieve its goals’’.
In simple words, Data governance plays a key role in
regulatory compliance, ensuring that organizations use the data in compliance
with the regulatory requirement. It is the management of people, process and
technologies that involved in the process of creation, usage, and deletion of
data within an organization.
We have heard many instances of data leaks that revealed
confidential information of customers.
This happens due to the lack of data governance within an organization.
Data governance can guarantee the security of information. This leads to
improved data quality and helps to avoid data inconsistencies which leads to
integrity issue.
How
to build effective data governance in your organization?
Many organizations struggle with data governance because the
management fail to understand the important of data and how crucial it is for
the organization. It is important to educate and involve decision making teams
in data governance. Data governance requires change in organization design. A
data management office led by a team should specialise in data management
strategy and set up standards and practices to be followed to manage and
process data within the organization.
Objectives for
effective data governance strategy:
· Use
of Data: The management should check the source and quality of data to prevent
data errors and misuse of personal or critical data. This can be achieved using
policies and procedures while handling data within the organization. Define
data policies such as user access, data retention, data minimization and data
protection.
· Complying
to data regulations: All regulations with regards to safeguarding data must be
met while developing and implementing different processes. Conduct workshops
across various management levels to deploy data governance.
·
High
Data Security: Data must be protected
and access to data must be authorized. Implement systems to monitor and
flag violations across organization’s database.
Benefits of Data Governance
·
Better
Decision Making: Strong data governance results in quality data. This helps
organizations to take data driven decisions. This helps investors and
management to grow their business.
·
Protects
organization from legal issues: With government regulatory bodies governing the
use of data, any data leaks or misuse of data can lead to legal repercussions.
This can result in lose of business and trust among customers.
Submitted by: Akhil Basil
Keywords: #Data quality #Governance #data management #data security #data integrity #data privacy #general data protection regulation.
References:
·
Petzold, B., Roggendorf, M.,
Rowshankish, K., & Sporleder, C. (2020, July 02). Designing data governance
that delivers value. Retrieved from https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/designing-data-governance-that-delivers-value
·
Team, D. (2020, June 12). How to
apply Data Governance to Digital Marketing. Retrieved from
https://medium.com/dp6-us-blog/how-to-apply-data-governance-to-digital-marketing-9f3d59965c93
Data governance is used at both micro and macro levels and with respect to this post it can be used at a micro level. It is a data management concept and forms part of corporate data governance. It helps increase consistency and confidence in decision making as it makes the travel agency more trustworthy. It also improves data security defining and verifying the requirements for data distribution policies. Data governance also helps the travel agency maintain its records efficiently.
ReplyDeleteThanks for making a blog about data governance. data is the most important thing in a human life. so people need to keep their data's safe. In the current world most people are attacked by cyber space. Information security may be ensured by data governance. This improves data quality and helps to eliminate data inconsistencies, which can lead to issues with data integrity. Data quality is the outcome of good data governance. This enables businesses to make data-driven decisions and gain their customers more trust.
ReplyDelete