The rise in importance of data analytics as the enabler of new winning business models means we should treat data as a corporate asset. An asset that requires proper governance to both protect it and ensure its optimal utilization. In other words, data governance main mission is to ensure your data quality, security, privacy, and adequate accessibility for all business requirements. It is a fundamental cornerstone for companies that want to leverage data (the new oil) effectively and mitigate associated risks.
Several data governance frameworks are available and you will typically adopt one as your reference for best practices. External consultants such as Aiqual can play a facilitating role in putting your cross-departmental data governance plans on a fast track to success. This is achieved in 3 main ways:
- Leveraging best practices to produce a data governance roadmap
- Facilitating cross-departmental collaboration
- Implementing measurements then ensuring all stakeholders meet the agreed KPIs