As a business or organization, we rely heavily on information to make decisions from finance to capital purchases to growth or the need to consolidate. And the reality is our choices are only as good as the information we base them on. How we generate, store, use, and maintain our corporate knowledge, financial history, and general business practices will help define how well-informed we are to make big decisions, how we address risk management, and how we, as a business, stay relevant in this ever-changing business world. Creating compelling data governance is the key to this.
What is data governance?
Data governance connects business strategy with information policy. As a business, we must create policies and processes that define how we practice and how information is generated, stored, used, and maintained across a company. Effective data governance allows us to be confident in the overall management of the availability, usability, integrity, and security of the data employed in our daily decisions and when it comes to big-picture decisions.
A sound data governance program includes a governing body or council, a defined set of procedures, and a plan to execute those procedures. Effective data governance serves an essential function within the enterprise, setting the parameters for data management and usage, creating processes for resolving data issues, and enabling business users to make decisions based on high-quality data and well-managed information assets. How do we create this effective data governance?
Data ownership and responsibilities or roles
As noted above, a governing body or council needs to be part of effective data governance. But first, as a business or organization, you must be clear as to who owns the data, who is the custodian or steward of this data, and who should have access to this data. Once you have defined these significant roles, the active roles must be defined. These will include who is responsible for the data – who ensures it is accurate and that systems are in place to make it accessible, complete, and up to date.
This will include understanding and working with the parameters of policies and procedures about storing, archiving, and backing up data and protecting or securing it from theft or loss. This is an ongoing process. A procedure must also be identified to create processes, timelines, and checks and balances to ensure business and government regulations compliance.
In some organizations, staff will be hired to undertake this job solely. In other organizations, particular staff from each unit, team, or working group may be assigned to ensure their unit’s information is maintained correctly as per the practical data governance approach of the organization as a whole. Regardless of how the team is created, it is essential to include an IT representative who is well aware of the technology available to support any effective data governance.
Developing process of information / data collection and storage
Now that you have created your core staff group and governing body or council, you need to look at the system itself. What do you need to achieve with your information management? How do you use information stored and archived? Do you require ongoing access or more for historical purposes? Do you use the information to make ongoing decisions or direction for the business? It would be best to answer all these questions, as it will define your policies and procedures as part of your effective data governance. Many organizations see this process as overwhelming, so taking it piece by piece is essential, building the basics that will apply to all information or data and allowing flexibility to add when and where needed.
Part of developing this process is to look at what is currently in place, what is working, and what could require improvements – this will become the foundation of your discussions from this point onward. Look at current procedures, the staff involved, and the technology used. When creating your new processes, remember that the key to effective data governance is appropriate access to data – ensure that whatever system you create is accessible and readily available to those requiring it. Many storage opportunities allow secure access 24/7 and off-site / any location via the computer.
This may be what your organization requires. Find out what each unit requires and ensure the basic requirements are met. Ensure that you have buy-in from all units – they need to be sold on the importance of effective data governance and its impact on their day-to-day work – they also need to realize their role and who is accountable for ensuring the integrity of stored information. The goal is to create one streamlined system that will benefit your organization.
About the Author
This article has been contributed by Phil Steel.
Photo credit: Com Salud
