Essential elements of effective data governance
4 MINS READ
Why data governance framework?
With the rise in cloud adoption and digital transformations, companies need to grant teams across the organization access to that central repository. However, to effectively navigate through huge volumes of data and extract value for quick decision-making, an organization needs a data governance framework to hold the data accountable. It can help increase the transparency around data and standardize the way it’s managed, so that all departments are on the same page on how data should be used. As Gartner puts it, an accountability framework ensures appropriate behavior in the valuation, creation, consumption, and control of data and analytics.
Data governance goals
A one-size-fits-all solution is not the answer. To build an effective data governance strategy, you need a governance framework customized for your business. A customized data governance framework should aim for the following:
So, what can companies do to achieve these goals?
Six building blocks of data governance
What’s clear is that companies need to protect their wealth of data. And leading cloud vendors are making it easy to do so. They offer tools for data discovery, data assessment, cataloging, data quality, and security. There are various data governance tools available in the market, such as Collibra, Informatica, Talend, and many others. Business leaders would benefit from weaving in a strong governance strategy into their digital transformation to ensure integrity and security of data, an imperative in today’s world.
However, before choosing any data governance options, organizations should clearly outline their overall governance framework objectives and components, set data priorities, and iron out any data complexities. There is no one-size-fits-all solution; the data governance strategy that’s tailored to meet an organization’s specific objectives and overcome their challenges will be a great asset—and accelerator—in an organization’s digital transformation journey.