Wednesday, December 7, 2022

CDO’s Playbook for Efficient Data Policy Management

By Nikhil Sonawane - November 22, 2022 3 Mins Read

In today’s dynamic business landscapes, data has become a primary source of valuable insights that allow the stakeholders to make informed decisions. CDOs should consider developing and enforcing efficient data policy management strategies to ensure making the most out of data gathered through all the channels in the organization.

Organizations that generate huge amounts of data; need to explore opportunities to organize it while gathering, storing, and processing it. According to the recent report published by Immuta titled “2022 Data Policy Management Report,” nearly 52.5% of survey respondents focused on data management because of the need for high-quality analytics insights. Here are a few strategies that CDOs can consider to design and implement effective data policy management policies throughout the organization:

Set predefined goals for the data

CDOs should determine the organization long term and short-term goals before drafting an effective data policy management.

The bottlenecks in the business operations to achieve goals should be the driving force to an efficient data management strategy.

For enterprises that fail to align their business goals with their data management processes, all their efforts and investments in gathering and processing data are in vain. CDOs should consider interacting with the stakeholders to determine their business goals and how data would help them to accomplish their vision. It is crucial to collect, store and process data that offers relevant business insights that help the business to scale. Because the stakeholders might require different data sets to analyze various aspects of their business, whether they need to have a better understanding of the total addressable market, innovate new products, reduce operational costs or control particular risks effectively based on the business requirements, CDOs can determine their data policy management strategy. The same report by Immuta suggests that nearly 43.5% of the survey respondent have data management strategies focused around compliance, and only 21% stated their efforts were cost-saving oriented.

Establish effective data processes

Once the DataOps teams determine the end goals of the organization; they can design and implement data management strategies effectively. It is crucial to determine the type of data gathered through each channel and set effective workflows to gather relevant data. DataOps teams also need to consider the data storing servers and what ways to maintain and improve the data quality, integrity, accessibility, and security of the data on that server.

Enforce stringent data governance

There is a surge in the use of data, and the data infrastructure has become tremendously complex. It has exposed the data to various internal and external threats that can have devastating impacts on the organization. CDOs should consider enforcing stringent data policy management strategies for data that is in use. To maintain the security of data, enterprises need to allow and grant access to data based on the requirements of the integrity of the users. DataOps teams need to monitor adherence to the governance policy to ensure data security. An efficient data management policy should have a stringent governance policy to democratize data throughout the organization without compromising on security.

Develop a customized data management model

Immuta’s 2022 Data Policy Management Report also suggests that nearly 40% of the organizations have customized or in-house tech stack implemented to manage their data access controls, and 28% of the respondents depend on an off-the-shelf solution to accomplish their goals. Based on the organization’s needs, it is crucial to have a customized data policy management model to deliver better results. Exploring, evaluating, and selecting the right tools and resources to accomplish data management goals is essential for every organization.

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AUTHOR

Nikhil Sonawane

Nikhil S is a Tech Journalist with OnDot Media. He is a media professional with eclectic experience in communications for various technology media brands. He brings his eye for editorial detail and keen sense of language skills to every article he writes.

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