Wednesday, March 22, 2023

Three Best Data Governance Practices to Follow

By Vishal Muktewar - May 02, 2022 3 Mins Read

Three Best Data Governance Practices to Follow

Navigating the growing data challenges and complexities requires organizations to have and follow the best data governance practices. 

The upcoming years will see a huge boost in the volume of data. In fact, as per a 2022 report from the Statista Department of Research, by 2025, global data creation is projected to grow more than 180 zettabyte. This data volume and complexity make it difficult to effectively navigate the ongoing challenges for organizations, especially involving data governance. 

Factors such as the requirements for architecture for enterprises, infrastructure, and data stewardship are making the challenge of tackling data governance only worse. Hence, dealing with these challenges requires organizations to have a data governance framework that helps them effectively manage data complexities, in place. Having a data governance strategy enables organizations to safeguard data while complying with regulatory requirements.

Here are three data governance practices that organizations should follow:

Understand that data governance is a long-term process

Before implementing a data governance program, IT leaders should understand that they present it to their counterparts as a long-term investment, not just a one-off project. While a particular IT project or business project has a launch and end date, data governance is a continuous, iterative process involving many sub-projects and milestones. They should begin with small tasks and bring the learnings from these projects into the organization to inform about more significant and more holistic initiatives. 

CMOs need to understand that data governance programs may run for years, but individual projects should not last more than three months. IT leaders should aim to develop projects into their long-term data governance strategy and embed fundamental transformation into their organization.

Also Read: Fragmented Data? How Data Governance Can Address It

Create a business case

Having investments and backing from stakeholders is critical for building effective data governance practices. However, having buy-in alone will not fully support the effort and ensure success. IT leaders involved in the process will also need to build a strong business case by identifying the benefits and opportunities that data quality will bring to the organization. 

They should make a strong case for how implementing a strong data governance framework can enhance the business value such as increasing revenue, delivering a better customer experience while increasing efficiency. 

While most stakeholders involved can be convinced of how poor data quality and data management can cause a huge problem, the data governance plan can fall short if the leadership is not committed to driving the change.

Emphasize on the importance of frequent communication

Whether the team is just starting out with their data governance program or has been practicing one for years, it is crucial that IT leaders establish communication early and on frequent intervals. 

By having a consistent and effective communication plan, organizations will be able to highlight the positive impact of their strategy, from showcasing the successes at different intervals to reorganizing after a setback. Either CIO or CDO should take it upon themselves to become the communication leader of the data governance program. 

They should be the central contact for the ongoing status of the governance practices across the entire organization. Team leaders, as well as data owners, should provide the executive with regular updates. This will allow the executives to bring forth the most important updates for the rest of the leadership team and the organization.

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Vishal Muktewar

Vishal Muktewar is a Senior Correspondent at On Dot Media. He reports news that focuses on the latest trends and innovations happening in the B2B industry. An IT engineer by profession, Vishal has worked at Insights Success before joining Ondot. His love for stories has driven him to take up a career in enterprise journalism. He effectively uses his knowledge of technology and flair for writing, for crafting features, articles and interactions for technology enterprise media platforms.

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