How to maintain and develop a mature Data Governance practice?
Data Governance (DG) is a multi-layered process essential for ensuring data practices are implemented, sustained, and monitored effectively.
A mature data governance practice simplifies daily business operations and provides increased business value and reduced operating costs.
Key elements of a mature practice include collecting data-related needs, creating corrective solutions and implementing those solutions while showcasing the results to the organization.
Constant re-evaluation and adjustment are crucial for a thriving data governance practice. To enhance trust in data and further develop data governance, it is important to monitor performance metrics and conduct regular reviews of the DG strategy. These reviews help assess whether data initiatives yield business benefits and if the data team can handle their workload.
Organizations may need to adjust the data scope or ensure optimal use of available tools. Periodic reviews of the overarching strategy should align it with current and future projects, updating the DG roadmap as needed. A mature data governance practice enables an organization to become data-driven, fostering data-based decision-making, trustworthy and accessible data, enhanced analytical capabilities and reduced manual data correction, operating costs and regulatory risks.
The more advanced the data governance practice, the greater the benefits for the entire business.
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