In the world of data management, you need to have a data governance strategy to be considered effective. This foundation will help you develop the right strategies to reduce risk and manage data effectively in your organisation.
According to data expert Agile Solutions, data management is a broad and complex topic faced with growing datasets, limited resources, and increasing stakeholder pressures. Organisations are adopting data management principles to govern their data better.
To do this, organisations are turning to four pillars of data management. These concepts help organisations standardise how they interact with data across the organisation. They also set standards for what types of data each department can access and how that data can be accessed and updated.
As a result, these pillars provide a framework for any company implementing a data management strategy. To learn more about the four pillars of data governance, read on!
4 Pillars of Data Governance Explained
- Data Strategy and Governance
The first pillar of data management is data strategy and governance. This is the foundation of any organisation’s data management plan. It provides the foundation for all other pillars and how an organisation will handle its data.
- Standards
The second pillar of data management is standards. This pillar helps organisations establish the minimum acceptable data quality level and the standards for data access. Standards also help ensure that all users have a consistent experience accessing data within the company.
- Integration
The third pillar of data management is integration. This pillar deals with how data is accessed. It also provides the infrastructure for data sharing across the organisation. A comprehensive integration strategy aims to make it easy for users to access, share, and use data within an organisation.
- Quality
The fourth pillar of data management is quality. This pillar deals with collecting, storing, managing, and accessing data. It also deals with the standards for data quality. A comprehensive quality strategy aims to ensure that all data within an organisation is accurate and trustworthy.
The Benefits of Using Data Governance Pillars
Data management is a broad discipline that touches on many aspects of an organisation’s data. You need to implement data governance to help your team manage data more effectively. Doing so will ensure that your data is organised and accessed efficiently. Here are the benefits of using the above data governance pillars.
Promotes a Culture of Data Management
Data governance is a way to create a culture where data are actively managed and used to support business objectives. Organisations must adopt this culture of accountability to ensure that they are having meaningful discussions about the governance of their data. This will help them create policies and procedures that will help them govern their data more effectively.
Manage Your Risk
Data governance helps you define the scope of your risk, which in turn helps you manage it. This way, you can identify the risks associated with your data and decide which ones are critical to managing or eliminating them. This will help you achieve transparency for all parties involved in data management, which includes all stakeholders in the organisation, from IT to finance and HR departments.
Manage Your Compliance Requirements
Data governance also ensures that compliance requirements are met. This is because as an organisation grows, it is inevitable for its policies and regulations to vary by various jurisdictions around the world with varying regulations on privacy and security standards. With this in mind, it becomes essential for organisations to develop effective strategies on how they will deal with these differences in regulations. The pillars foster compliance.
Manage Your Data
It also ensures that your data is managed effectively. Managing your data effectively is essential for any organisation, especially in light of the growing threat of cyberattacks, which are becoming increasingly frequent. It helps you understand how your data is used and how to ensure it stays secure.
So What Are the 4 Pillars of Data Governance?
Data governance allows organisations to ensure that their data is used effectively and correctly. This ensures that all users have a consistent experience when accessing company data. By following and using the right data governance strategies, you get to enhance the quality of your business. It also provides a framework for ensuring that all organisation employees follow proper security procedures when accessing company information and systems.
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