With 2018 drawing to a close and 2019 just around the corner, now is the time when people start reviewing their current policies and assessing which ones need changing.
Concerning data governance, professionals cannot merely assume what they did in 2018 will be sufficient moving forward. Here are six tips for managing and governing data in 2019.
It's not enough for businesses to have processes for collecting data. That's an important start, but companies must prioritize improving the overall quality of the data. A 2017 Forbes report warned poor-quality data is costly and risky for businesses. It could also cause CEOs and other decision-makers to lack confidence in the data and what it indicates.
Plus, a study from the Business Application Research Center ranked data quality management as the most critical Business analytics trend for 2019. But, data quality management is not straightforward, because it involves multiple steps. Companies must acquire the data, analyze it with advanced processes, effectively managing the data and finally, managing oversight. When businesses focus on data quality management and even create key performance indicators to reflect their goals, the dedication to this aspect of data management should pay off.
2. Get Senior Managers Involved in Data Management and Governance
At some companies, it may seem adequate to have a single person in charge of data management and governance, especially at a small organization.
However, an infographic from Infogix about 2019 data-related trends points out these needs require a team effort. More specifically, senior leaders and C-suite executives need to collaborate and develop strategies together.
Doing that helps create and maintain a data-driven culture from the top down. Collaboration also stimulates innovation and the adoption of new technologies that could help the organization remain competitive.
In 2018, people spent a significant amount of time prepping for the General Data Protection Regulation (GDPR), which came into effect in May and applies to organizations operating in the European Union or marketing to customers who live there. As a start, getting compliant with the GDPR means classifying data and creating a data map that shows locations.
And, businesses must be aware of the other data regulations coming down the pipeline.
For example, the California Consumer Privacy Act takes effect on Jan. 1, 2020, and analysts believe it will shake up established business models in the digital realm, mainly because people can opt out of having their data sold and can request that companies delete their data.
