In recent days, across multiple departments, organizations are collecting a massive considerable number of data. In order to extract value from this and drive some essential business decisions, all these pieces of data are required to be organized.
In case you are not able to manage data in a proper manner, it can lead to data duplications, process inefficiency, and also incur penalties only for non-compliance to data regulatory compliances.
The requirements of being a method to de-silo, collect, along with managing external and internal data, the importance of data governance comes in. And as a vital part, data catalog tools also enter the venue.
What Is Data Governance?
Data Governance is typically the setting and following all the required guidelines, systems, and processes in order to organize, scale, and use data of an organization optimally.
The accountability that any business has towards the data of their customers is Data Governance specifically. The data regulations, rules, and policies that guide the organization for managing, storing, and collecting data fall under the category of Data Governance.
Across the data management, the very consistency turns it possible for any organization in order to act on the data. Often the terms like data stewardship and data management are being confused with Data Governance, and it has to be noted that they are not the same.
While data management concerns the implementation of data processes, tools, and architecture for storing, using, and organizing data, we can consider Data Governance as the strategic aspect of data management.
On the other hand, data stewardship generally pays attention to ensuring adding metadata, documenting data sources, ensuring data accuracy, and also resolving data issues. So, this is all you need to know about the basics of Data Governance.
Data Governance Guiding Principles-
The Data Governance Institute has proposed eight data governance guiding principles for adapting data governance initiatives. Those eight guiding principles are given below.
1. Integrity:
At the time of discussing data-related issues, it is mandatory for data governance stakeholders to ensure honesty and integrity. Being transparent and truthful also makes sure that all the data collection practices are tractable with required regulatory compliances, like GDPR.
2. Transparency:
All of the data governance practices that are implemented at any organization have to be transparent. Being open enough with stakeholders about data-related discussions belongs to this. The way an organization is collecting and using both external and internal data is also a part of it.
3. Auditability:
All those data-related processes that are concerned about data governance will be auditable. For measuring the data standards and also understanding the utility for a specific purpose, the collected data will also be auditable.
4. Accountability:
Data governance is also responsible for deciding, especially for cross-functional data-related processes, policies, and also roles.
5. Stewardship:
The accountabilities of data stewards, along with stewardship activities, are also defined by data governance. And this is to make sure that all the rules and regulations related to data are implemented appropriately. And as a result of this to the relevant stakeholders, the data will also be available.
6. Checks-and-Balances:
For wide spreading among related, multiple teams, the accountability will be decentralized by data governance.
7. Standardization:
Data governance will also make sure that it is introducing standardization measures in order to make data useful for various cases.
8. Change Management:
For facilitating the structure, along with the use of the metadata and master data, change management policies are going to be introduced by data governance.
Conclusion:
So, here is the guide that, as a beginner, you were looking for about Data Governance. In case any organization is willing to adopt a data-driven culture, the organization has to make sure that they are having a more robust approach towards managing ways of data.
Data governance programs are not only effective for boosting data quality and ensuring data security but also cut down data management costs. It is also important how you are implementing data governance in your organization. But this guide will surely help you with that.
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