Data governance allows you to define the main principles which must govern the management of your data, but also ensure that they are applied. It is a strict framework that operates at different levels.
Overall company performance
First, data is an aid to anticipate and make strategic decisions. As such, it is a real guide for your company’s decision makers and a strategic tool which has a direct impact on business performance.
Remember, non-qualitative data presents a real risk for your company. It can lead to flawed analyses, irrelevant decision making, lack of responsiveness to your competitors actions, among others. To counter this bias and meet the needs of your internal or external customers, a systematic and automated Data Quality process must be implemented.
Data has become a sensitive resource which must be secured in IT infrastructures. Appropriate rules and processes must be formalized.
Build a reference
Master Data Management aims to classify and store reference data in a data warehouse, essential for the company’s activity (customer information, products, resources, etc.). Once built, this reference is critical, particularly for matching processes.
Subject to an increasingly strict regulatory framework for data, establishing rules and procedures is inevitable. Collecting, processing, storing, sharing, and securing are just a few steps in the process. Each step of the data journey must be managed by processes in compliance with current standards, and in particular, GDPR (General Data Protection Regulation) for personal data.
Optimisation of IT infrastructures
The centralization of data within the organization is one of the fundamental issues of data governance. Today, information systems aim to provide better access for businesses through a global and secured infrastructure and in compliance with regulations.