Data Governance is essential for establishing a data-centric, insight-driven organization. Governance is currently a major issue for senior management as a result of public outrage over data privacy, the reputational harm caused by data leaks, and strict legislation.
In the absence of a thorough Data Governance Strategy, the everyday accumulation of huge volumes of data can result in regulatory or professional challenges. A Data Governance Strategy is the first step toward better data capabilities, the development of data professionals, and a collaborative enterprise.
To develop a pragmatic Data Governance Strategy, businesses should concentrate on the following six phases:
- Document existing governance structure and roles
- Gain senior leadership sponsorship for the program
- Improve data awareness and education
- Redefine data structures and establish a team
- Create measurement metrics to identify success
- Choose data tools that match your strategy
This six-step Data Governance Strategy enhances enterprise management by recognizing and appreciating data as a significant business asset. The approach simplifies the generation of accurate and consistent data, enhances its utility, and enables more lucid Decision making.
Phase 1 — Document Existing Governance Structure and Roles
The initial step recognizes the organization's present data management procedures, which are often controlled by database administrators (access permissions) and IT workers (who back up and store data) (who ensure the availability of licensed business intelligence applications). Data Governance is practiced by every organization, however it is rarely documented.
After identifying the existing governance structure and roles, it is essential to undertake a formal inventory of data assets, identify the personnel responsible for data management, and identify any gaps in data assets, responsibilities of relevant individuals, and processes.
Phase 2 — Gain Senior Leadership’s Sponsorship for the Program
The next step emphasizes the importance of executive sponsorship to the success of a Data Governance program. Engineers, developers, and network administrators that operate in departmental silos typically carry out Data Governance Strategy obligations. A cross-departmental Governance Strategy cannot be designed and implemented successfully without the backing of top leadership.
To garner executive support for Data Governance programs, executive leadership typically promotes uncertainty and fear, such as by imposing fines for violations of data privacy and protection rules. This method, however, promotes antagonism and unhappiness among stakeholders and is detrimental to data governance. Data Governance should be made interesting to executives by demonstrating how it can improve the enterprise's efficiency and responsiveness.
Phase 3 — Improve Data Awareness and Education
Enhancing the enterprise's data literacy is the objective of this portion of the Data Governance Strategy. Employee support is equally essential to the success of the Data Governance Strategy and its implementation as is leadership support. It is crucial for folks to realize the need of protecting information resources that they comprehend the value of data.
Even in data-centric organizations, the lack of awareness, discovery, and reuse of (previously created) data assets is pervasive. The key reason for redoing work is to recreate entire databases and dashboards that already exist but are unknown to company personnel. Designing and delivering employee training programs on data literacy and data science competencies enhances the Data Governance Strategy and its implementation.
Interested in learning more about the other phases of Data Governance Strategy? You can download an editable PowerPoint on Data Governance Strategy here on the Flevy documents marketplace.
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