Don’t overlook the need for data governance
Your company’s data is your single source of truth, which is why data governance is one of the most critical components in launching and maintaining a business intelligence solution.
Businesses often overlook the need for a data governance committee. But why?
I have fun exercise for you to do.
Go out and ask different friends or family members that work in different types of businesses – they could be at a small company with 25 employees or a company with thousands – these two questions:
- Do you have data governance in your business?
- What is your definition of data governance?
I think you might be very surprised by the variety of answers that you receive from the people you have asked and especially if you ask people that are from different sizes of businesses.
At CopperHill, we define data governance as the overall management, with the help of processes, of data that is employed throughout the entire business to ensure the availability, usability, integrity, and security.
Establishing data governance is a cultural change within your business, and can be a positive change if it is approached and implemented properly. Data governance can be disruptive in the beginning but that does not mean it cannot be a positive disruption. You have to take the approach that this is an ownership of the data and each department belongs to that feeling of ownership and has a responsibility to themselves and the business to ensure that they are doing everything they can to follow the data governance guidelines. Empower your employees and you will see that data governance within your business will go along way.
Some key benefit that a data governance can give your business:
- Better data quality
- Better decision making
- Increasing Operational Efficiencies
- Improved Data Knowledge
- Higher Revenue
- Regulatory Compliance