Have you ever wondered how the vast data of a company or an organization is stored, protected, or represented? Yes, there must be a governing or handling body that will be working day and night to keep everything correct and secured for a company or an organization. Here, in this article, we will discuss that data handling body or data governance in brief.
What Is Data Governance?
Data governance is a body that manages and protects the data assets of a company by using specialized individuals, several processes, or technologies that guarantee to keep understandable, correct, secure, and complete data. This governing body deals with almost all aspects of handling the data of a company from designing and modeling to its security. They improvise and establish different ideas to perform their task efficiently.
What Are The Key Goals Of Data Governance?
Data governance has a major role in a company’s data management. The key goals of data governance are as follows:
- It minimizes the risk of getting any fault in managing data or leaking it somehow.
- It establishes its own internal rules for data use.
- It implements compliance requirements.
- Moreover, it also helps in improving internal and external communication.
- Data governance adds extra value to the existing data. In short, it increases its value.
- Its strategies and tactics reduce the cost.
- It ensures the longevity of the company.
Challenges Associated With Data Governance
The application of data governance is always fruitful but still, several companies are afraid to have a data governance program. There are no specific reasons behind this denial of implementation, but it is assumed that these companies show less interest due to their assumed complexity or general uncertainty.
Some of the general hurdles that are faced by companies while implementing data governance are as follows:
Implementation of data governance will require assigning of different roles and positions to different individuals basing upon their credibility. But, these organizational changes will require a sensitive approach as this assigning task will lead to a political scenario within the company. This issue is faced by many companies in a way to maintain the corporate culture.
- Acceptance and Communication
Data governance requires acceptance with working communication between all the responsible parties. This means all the employees in the scenario should understand both the technical and the business aspects. This understanding will help to communicate easily and help the company to grow as well.
- Budgets And Stakeholders
Isn’t it required to convince the ones who will release the fund to hire a data governance program? The answer is always yes. But, the main difficulty faced here is convincing the stakeholders to release the funds for having a data governance program.
- Standardization And Flexibility
To meet the continuous changes in the market, a business needs to be flexible. But, it’s also important to have a proper balance between flexibility and data governance standards to keep the company moving without any issue.
- Mindset Of People
People currently have a strong belief that IT owns all the data. But, it’s a myth to be busted. IT helps others to process data by developing different technologies. However, the data is available to be used by the business people. They use, modify, and produce high-quality data and also utilize them for different operational and decision-making purposes.
- Lack Of Data Documentation
Big data governance program using big data intelligence will require a lot of data. And providing the proper documents of these data will be difficult for some companies. So, without providing proper data documents, it will be difficult for a data governance body to function or do its task properly.
Best Practices Involved In Data Governance
A business will grow more with data governance strategies, as they will get a clear picture of their overall growth. To build data governance in big data, follow some of the best practices in this field.
- Start With Small Steps
As we all know, data governance moves around people, processes, and technologies. These three are very important while preparing the data governance strategy. But, these three should be dealt with step by step.
Initially start with people, then follow the process, and then move towards technology. Master each of them individually, as this will help to start a data governance program quite easily and efficiently.
- Involve Business Stakeholders
Involving business stakeholders will improve the chances of getting the funds. Also, it will add extra support to have a data governance program in the company as well. So, to impress stakeholders with the plan, prepare, and represent it perfectly.
- Assign Proper Roles
This program of data governance has been seen to be fruitful when all the major responsibilities are well distributed among individuals and roles are specifically described to them. Defining the roles has a major plus point and that is it gives a framework or a plan to execute properly through channels between the roles. The overall role of the respective position holder to improve data quality. So what are the major roles that can be assigned in data governance?
- Data governance board or council
- Tactical team members
- Data Users
- Measure The Progress
Keep track of the progress that is made daily. This regular data will help to improvise things if required. Tracking progress is always a great option using the original metrics.
Communication is another major factor to deal with data governance properly. Consistent and effective communication will help to work with advanced business analytics too. Also, early and regular communication will give enough space to deal with sudden successes and failures.
- Treat Data Governance As A Practice
This might look like a project to handle, but this is more like a practice done by most of the companies to improvise their data and overall growth of the company. So, treating it as a practice will help to do it with more motivation.
Get yourself ready to start this amazing practice to have more growth in the company. Data governance is a gem. So, if you are ready to start, do it properly, or else get yourself ready to start first.