Take an Inventory of Your Data Assets –

If you want to get the most value out of your data, you need to take inventory. A “data first” mindset is of utmost importance, because it will lead you to focus on your data as an asset. You inventory all other assets within your company; treat your information assets no differently.

As we know, it’s not as simple as going to the single data warehouse to harvest data assets anymore, because the form and scope of your data have expanded. A data asset library will help you use your data as a major resource. Many are doing this informally on a project basis, but then the discovery process is lost. I suggest it’s time to document your findings and expand the scope of the discovery to the enterprise.

As you prepare to inventory your data assets, focus on three broad areas to better organize your efforts: data source availability, data completeness, and data richness.

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Ask the Data Governance Coach: What is a Data Glossary?

Does the data store have enough data sources? Step back and take a fresh inventory of the existing data sources accessible in the platform. Are you missing key domains of information that would help provide a complete picture of your enterprise? Ensuring you have insights into your data store can help identify your data source gaps. These gaps will help shape your data procurement priorities and strategy.

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