Data is now one of the most valuable assets for any organization. The term Data Governance emerged from the need to manage the collection and utilization of data in an efficient manner. Data Governance can be looked upon as building standard practices, processes and frameworks to facilitate the collection, identification, storage and usage of business information that an organization holds. The concept revolves around a simple objective – to make the right data available at the right time, to the right people, and in the right format.
Data governance program is an important step to establish control over information flow by putting up rules, policies, and procedures to safeguard the access and usage of data. Lots of organizations have tried to implement enterprise data governance practices, but only a handful have succeeded in reaping the rewards.
What’s the reason behind all these failures? In this article, we will take a look at the crucial mistakes that you must stay away from while implementing a data governance program for your organization.
Before going ahead with the implementation, organizations must ensure that a proper data governance framework is in place to control the entire life-cycle. The first step is to create a governing body with the right set of skilled resources to oversee that the data is being administered properly. All the employees working in the data governance project must be answerable to this governing body for any mishap that might happen. To have a proper control over the whole implementation process, it is something that you can’t afford to ignore.
Data accuracy and consistency are two of the most important factors that can make or break a data governance initiative. You must have adequate measures in place to ensure the integrity of data. Important business decisions are made based on the available data, and if the data is of low quality, it will have a negative impact on the organization’s decision-making process. Having accurate and reliable data to draw insights from helps organizations make the right business decisions.
Failure to embed the data governance framework is another crucial mistake that you must avoid at all costs.