In recent years, data governance has been propelled into the spotlight by increased regulatory pressure as a result of new legislations such as Solvency II and Basel III. However, good data governance is more than just regulatory compliance, if managed correctly it can bring benefits such as greater efficiency, visibility and cost savings.
When an organisation has implemented a successful data governance programme they can:
There are many activities, competencies and capabilities involved in a full data governance solution. Each of these areas has multiple touch points, making it complex to understand the challenges faced around data.
Data governance plays a key part in unlocking the value of data, and is vital in successfully implementing data programmes.
Data value can be realised through each of the domains in the diagram, each co-ordinated through data governance which sits at the heart.
Governance is made up of four enabling tools: processes, policies, reports and organisational structure. When successfully designed and implemented, these tools can increase the ability of the other areas of our framework to realise the value from your data.
Our capability extends from assessment and benchmarking against industry standards, through to the design and implementation of tailored data governance frameworks for our clients. We can provide specialists to lead data governance programmes, helping you to quickly demonstrate business value, whilst also guiding and training on how to govern data effectively once we step back.