General

Design Data Governance That Propels Organization Past The Competitors

Data is an invaluable asset of every kind of business in this digital era. Businesses cannot survive digital transformation without data analytics to stay ahead of competitors. For creating new revenue sources there is a need for reliable, high quality, and relevant data analysis. Fortunately, this can be attained using an appropriate data governance program.

Today, many organizations run a data governance program but with low or negligible value. The problem initiates generally with C-suite as they don’t understand the potential of data governance in creating value. It is a belief that IT is responsible for everything associated with data. In reality, every employee associated with data is responsible because without this collaboration data powers are equally ineffective.

With poor data quality, organizations can miss on data-driven opportunities and waste resources. Poor data quality can reduce employee’s productivity significantly as they spend time performing non-value-added tasks. Rather than exposing your organization to costly regulatory risk, invest in a reliable and experienced data governance consultant like EWSolutions. They have helped leading firms to save millions in enhancing their data ecosystem and enabled a data governance program that adds value.

How to design a propelling data governance program?

Some critical practices can ensure a valuable data governance plan.

Secure C-suite attention

Understand the needs of top management, emphasize current data limitations & challenges, as well as explain data governance roles. Form a data governance council within the executive suite that will be responsible for driving the data governance process towards business needs, monitor and approve initiatives for enhancement.

The leaders will even define the data elements and establish quality standards. With top-down leadership, the usual challenges associated with role empowerment will be avoided.

Integrate with key transformation teams

With senior management attention, link transformation efforts towards digitization, ERP modernization, or omnichannel enablement. Instead of governance operating on its own, linking it with transformation themes simplifies the senior leadership buy-in. Because integrating data governance at production and consumption point the data responsibility along with governance shifts to the product team.

Prioritize data assets

Looking at every data asset at the same time can slow the process and certain areas not directly linked to the business needs are at risk. Therefore prioritize data assets by domains and their subcategories based on regulatory needs, transformational efforts, etc.

Create a roadmap for appropriate domain deployment. Start with a couple of priority domains to make it functional within several months.

Apply right governance level

Organizations with multiple branches spread across the countries have complex regulatory pressure in comparison to businesses in a single geographical location. Therefore the data governance program you design needs to align with the unique regulation level as well as the data sets.

Choose iteration for quick adaptation 

To make sure that the data governance program creates value, quickly tailor the domain priorities and use iterative principles. For example, in improving customer campaigns there is no need to integrate a comprehensive data set across the whole company but instead, a custom approach will offer better data governance value. A tailored approach focused on resolving issues around data quality is the result of a solid data management plan.

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