How Business Intelligence (BI) Enhances Data Governance

How Business Intelligence (BI) Enhances Data Governance

How Business Intelligence (BI) Enhances Data Governance

The definition of business intelligence is “the transformation of raw data into meaningful and actionable information to improve your business.” Asset managers are now turning their attention towards leveraging data quality information with business intelligence to underpin their data governance efforts.

For those institutions working on process improvements around the capture, investigation and resolution of data quality issues, one of the key outputs should be the accumulation of intelligence about data quality. Collecting not just the raw data quality metrics such as the number of gaps, differences, errors and so on but process and management information as well. For example, how often do we see a particular problem? How long does it take us to fix it? Is the data quality improving over time and where does the bad data come from in the first place? Being able to provide answers to these intelligent questions requires a level of analytics embedded within the day to day operational processes around data quality management and the tools used to support those processes.

Read Also:
How to Capture More Value from Big Data and Analytics

The benefits of applying business intelligence over data quality information are broad. Such insights can empower the firm to make better and faster decisions, identify possible areas for cost savings, provide insights into data quality, and help to align the organisation towards the broader data management goals. This level of visibility is very useful for your internal teams across data management, data governance, compliance and more. But it can also be valuable as a means of communicating performance and achievements to senior management, or indeed, highlighting problem areas to justify further development, as well as to clients, auditors and regulators who show an interest in your data governance capabilities.

Firms who are not leveraging such management information often find that they have no clarity about what is working and not working within their data quality and governance programmes. They can’t see the metrics for measuring progress and driving change, and find it more challenging to implement effective data governance.

Read Also:
Qunar Performs Real-Time Data Analytics up to 300x Faster with Alluxio


Sentiment Analysis Symposium

27
Jun
2017
Sentiment Analysis Symposium

15% off with code 7WDATA

Read Also:
Creating large training data sets quickly

Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

28
Jun
2017
Data Analytics and Behavioural Science Applied to Retail and Consumer Markets

15% off with code 7WDATA

Read Also:
Predictive Analytics is the Future of Financial Marketing

AI, Machine Learning and Sentiment Analysis Applied to Finance

28
Jun
2017
AI, Machine Learning and Sentiment Analysis Applied to Finance

15% off with code 7WDATA

Read Also:
Why Musicians Make Good Analysts

Real Business Intelligence

11
Jul
2017
Real Business Intelligence

25% off with code RBIYM01

Read Also:
Can AI Predict Legal Outcomes?

Advanced Analytics Forum

20
Sep
2017
Advanced Analytics Forum

15% off with code Discount15

Read Also:
Driving Data Science Productivity Without Compromising Quality

Leave a Reply

Your email address will not be published. Required fields are marked *