Data - Value and Impact
Organizations investing in managing their data quality and usage are increasing their odds of success by multi-fold. Every decision being made at all the levels of the organization are based on some data, the consequences or the impact of the decisions made at executive level are high and drive the organizational success. Today, corporations are investing billions in capturing their customer information, mainly their purchasing habits. Capturing this information is only half job done, the value of this data is only realized when it is properly utilized in decision making.
The pace of change in the markets is requiring the companies to be able to react quickly to changing demands from customers. With the large amount of data being processed, making decisions is only getting complex. To effectively analyze, understand and to make timely decisions, organizations need reevaluate and invest approprtiately in their data management and governance processes. Small investments in improving data quality, data security and data visualization can pay high dividends.
Data governance is a key component of Enterprise Information Management. We have the experience of taking a step by step approach to implement all the four components of data management and data governance. It requires a strong desire and commitment of the organization executives to successfully implement the data governance process in the organization.
Data governance is not just IT’s responsibility, it is the responsibility of everyone working with data. It is the responsibility of all to protect the most critical asset of the organization i.e. data. The governance body should include the key data stewards and the executives of the organization who rely on the data to analyze or to make key decisions. This group should be responsible for putting together policies and procedures to maintain the data integrity, security, availability and the usage of the data in the organization.