Companies today must handle large volumes of data, fortunately, the creation of highly efficient technological tools has allowed organizations to collect, store and share their information more simply. However, precisely because of this large volume, taking real advantage of the data contained in the systems can become a great challenge for companies. This is where it becomes necessary to achieve a good data governance strategy.
Information occupies an essential place in decision-making, that is why analyzing it, organizing it and prioritizing it in the right way, is one of the most important steps when optimizing operations and overall business performance.
Do you want to know what some of the data governance strategies you can apply in your organization? Don’t miss this article we’ve created for you.
The Importance of Quality Data for the Company
The financial department, the operations department, the customer service department… Each and every one of the company’s areas must handle significant amounts of data on a daily basis. These data are the engine that makes possible the construction of a good relationship with customers, the definition of effective sales strategies, and the planning of good marketing projects.
Of course, this is only possible if the information used is truly useful since it is almost impossible to obtain benefits from incomplete, inaccurate, or difficult-to-access data. In short, data provides value as it is of quality. What do we mean by quality data? Those that comply with the following essential characteristics: coherence, validity, up-to-date, availability, and traceability.
In this context, it is precisely good data governance that facilitates the task of properly organizing information so that companies can take advantage of it.
What exactly is data governance about?
It was in the 1990s that the term governance began to be associated with information systems. Since then, in that context; this notion refers to the IT management strategies and resources established in a company to achieve its strategic objectives.
With the advent of the digital era, the amount of information handled by organizations increased exponentially. This brought with it the need to define new security standards to ensure good data management and protection.
Data governance takes care of this. This is nothing more than a set of processes aimed at ensuring the reliability of the information used for critical business processes, decision-making, and accounting.
These processes ensure that the data meets the following requirements:
Availability: A good data governance strategy ensures that information is stored correctly and is available to users whenever they need it.
Usability: The information must allow the members of the company to achieve their objectives efficiently. For this, it must meet the search criteria of the users, that is, it must be useful.
Integrity: The data must also be reliable, relevant, and valid. For this, the data governance strategy must prevent the collected data from being destroyed or altered.
Security: The above three criteria are highly dependent on the company’s ability to protect its data. In this case, the data governance strategy is responsible for implementing processes that control access, track any activity, reduce vulnerabilities, and enable rapid response to misuse.
How to achieve a good data governance strategy?
#1 Prioritize collaboration
Good data governance should not be a simple project but rather should be a regular component of the company’s culture. This requires that you achieve alignment between the people who collect and govern the data and the other members of the enterprise. Be sure to include everyone and make sure that objectives, processes, and authorization levels are clearly defined. Remember, the key to data governance is efficient collaboration.
#2 Stick to a standard
There are already standards and legal frameworks that can tell you what are the best practices in data management and governance. ISO 9241-11 standards, for example, can help you ensure information quality. The new European law for data processing, the GDPR, can also be useful even if your organization is not in the EU. These standards will not only guarantee you better results but will also enable you to make your customers have greater confidence in your brand.
#3 Invest in a good tool
The appropriate tools are capable of facilitating any task. To better manage your data and keep it protected, you need to use the right software. No matter what tool you are considering; be sure that it is accessible and easy to use, both for the IT team and for any other member who needs access.
Do you want to find the ideal tools to manage your company’s information better? Contact us.
