Even though data governance has been around for a long time, most businesses still don’t know how to implement the framework.
We are living in an era where information is the ultimate currency. Yet too often, we treat our data as a source of risk rather than an opportunity. Data governance is becoming an increasingly important part of business strategy in today’s increasingly complex business landscape.
Your data governance program must address both internal and external concerns. You need a plan to manage data in a way that meets regulatory requirements, protects your organization’s brand and reputation, and provides a clear insight into who has access to what information.
- Identify Your Current Situation
- Conduct a Needs Analysis
- Establish a Strategy
- Develop Your Plan
- Select a Data Governance Platform
- Select the Right Security Controls
- Test and Evaluate
Identify Your Current Situation
A data governance plan can be seen as a way to organize and document your data and business processes. It helps you understand what data exists, who has access to it, who has access to modify it, and how they manage it. It’s also useful to identify the data that’s currently being used and any data that needs to be created. The data governance plan can help you keep track of all these details, but it doesn’t replace the need for data owners to use the plan as a tool to understand and protect their data.
Conduct a Needs Analysis
To ensure that your organization has a solid data governance plan, start by looking at the gaps in your current strategy. Do you have an efficient data governance framework, such as Delphix? What are your top five priorities for improving data governance? Consider what you want to change (and why), and make a list. Do you know what tools or processes you need to improve upon to achieve your goals? Then, conduct a needs analysis to determine what tools or services you need to achieve your goals.
Establish a Strategy
Data governance means ensuring the right people have access to data and use it wisely. We are living in a world where data is everywhere. Whether it’s credit reports, bank statements, or medical records, we’re collecting and storing tons of data on every consumer. While data is valuable for business and research, it can also pose security risks, create privacy concerns, and threaten competitive advantage if not managed properly.
A data governance strategy is a set of guidelines that defines what data should be collected, who should collect it, what purpose it should serve, and how the data will be used in the future. While a data governance plan isn’t something you need to start implementing immediately, it will give you a framework to consider as you plan and execute your organization’s business strategy. A data governance plan gives you a clear vision of your company in five years. It also provides a structure for implementing the strategy that you choose.
Develop Your Plan
Data governance plans can take a lot of forms, but all should include at least the following: a statement of purpose; a timeline; a list of key objectives and metrics; a list of responsibilities and a plan for executing those responsibilities; and a description of a system or process for data retention and destruction.
Select a Data Governance Platform
As mentioned in the first paragraph, data governance is the practice of monitoring and managing all data. In the cloud, it’s important to establish policies and procedures for data storage, security, and access. At the same time, you’ll need to develop ways to ensure your organization adheres to those guidelines while remaining flexible enough to adjust if needed.
One of the most significant decisions you will make on your journey to data governance is selecting a platform to host your data. There are a few reasons you should choose a particular platform. One of the most compelling ones is that it will allow you to start building a data governance strategy immediately.
Test and Evaluate
Your data governance program is like a well-oiled machine. It’s designed to help you stay ahead of the curve and protect your organization from making costly mistakes as new technologies and regulations emerge. But it must be constantly tested, evaluated, and tweaked to keep up with the industry and regulatory climate changes. A successful data governance program is not only proactive but is also capable of adapting to changing needs.
In conclusion, data governance programs are not a silver bullet. They can help you improve the quality of your data assets and help you meet your regulatory and business objectives. But if you don’t do them correctly, they will be only so helpful. There’s a lot of focus on data governance today, and for good reason. The potential for harm is far too high. Data governance is a necessary step in the journey to ensure that you follow the right processes and procedures to manage the risks associated with your data assets. You must also have someone who understands and practices data governance daily.
Without it, your organization will have an incomplete picture of what data it holds and how it is used. This leads to an incomplete view of the information you’re gathering and an incomplete view of your business. You must ensure that all employees have the authority to make decisions about their data, that they’re following those decisions, and that they understand why they’re following them. Without these three steps, you will never fully understand your data and its impact on your business.