Must-Know Business Tips for Better Data Governance

E-Commerce Business

Having a beautiful dashboard, visually appealing graphics does not make good data. Data’s usefulness is dependent on its accuracy. The tiniest of mistakes can lead to to your company’s downfall. Unfortunately however, many companies make important decisions based on bad and inaccurate data. This occurs as a result of several different reasons such as acquiring too much data or failing to identify data sources which are trustworthy. On the flip side, there are several things you can do to avoid common pitfalls that will enable you to create user friend dashboards that are just as accurate as they are visually appealing

What Is Data Governance?

Governing data is referred to being the enforcement of data reporting, collecting and management. In a simpler term, it essentially means the control and use of data. As a result of the advent of the internet, companies have more access to information than before the advent of the internet. With so much data around, someone needs to filter through that data so that meaningful data can be used in an effective way. The term which refers to the individual which overseas data management is called a data steward. This individual is responsible for data policy, data objectives and data integrity.

Get An Executive Sponsor

If you haven’t hired an executive sponsor as of it, it’s very likely that your data governance framework won’t get far. Any successful project requires the experience and services of an executive sponsor. Simply said, executive sponsors will help to make sure that your program gets the right amount of visibility amongst other executives as well as the entire enterprise itself. They will also assist with ensuring that you overcome any roadblocks that may be hampering your success. The fact of the matter is that, you will run into several problems throughout your data governance efforts without the assistance of executive sponsors.

Appoint A Data Governance Council And Chief Data Officer

Another tip that is highly recommended is the appointment of a data guidance council as well as a chief data officer. The council should consist of senior individuals within the organization who are basically empowered through the governance program. The chief data officer however, should only be designated to someone who is known to meticulously and tirelessly tackle given tasks.

Build Relationships with Stakeholders

In order for data projects to be successful it will need the support of stakeholders. Stakeholders are people of influence who stand to benefit from governance of data.

Create A Vision and Formulate A Strategy

The first and foremost thing you should do before establishing a program is to create a vision and outline your strategy. For instance, what are you trying to govern? You can do this by taking a close look at the subset of your most crucial data, which will be data that can prove to be very important to the stakeholders as well as to have a negative or positive impact on the outcomes of your business. When formulating a strategy it’s also worth nothing that you should outline how you plan to maintain data integrity and list of individuals who will be responsible for the various processes throughout the data pipeline.

Prioritize Features

Even if you have a specific feature that you want, if signals indicate that your stakeholders or business won’t use said feature immediately, you may need to focus on features that would be put to use immediately. As such, proposed features should be prioritized by your council. By focusing on prioritizing features that can be put to use immediately, you will be developing features around the user community of your business and as such, more likely to win their acceptance.


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