Companies face pressure to improve value, accountability, performance, quality and risk reduction, while the economic climate heightens demands to cut costs, improve efficiency and revenue. Managing all these things requires a sound data governance process that leverages data quickly in response to the challenges and opportunities you face. Here we outline the best concepts and methodology for your company’s data governance initiatives.
In today’s fast-paced business world, companies must make informed business decisions in less time than ever before. Organizations face increasing pressure to improve value, accountability, performance, and quality (while reducing risk) to meet the demands of stakeholders, customers, employees, and the government. The economic climate exacerbates demands to cut costs, improve efficiency, and improve revenue. Data is a valuable corporate asset, yet many companies fail to realize its full business value. Data governance creates an environment where companies can leverage their data quickly and efficiently to respond to challenges and opportunities posed by the market. A sound data governance program provides formal policies, standards, and oversight that enable decision-makers to receive the accurate, timely information they need to achieve business objectives.
Whether you are exploring the benefits of a data governance program or have already embraced data governance and are looking to refine your efforts, the concepts and methodology described in this document will prove helpful.