These are some risk areas that you might want to think about when discussing Data Governance with your team:
1. Disparate sources of data across the organization’s applications, producing incomplete and incorrect production data used in key decision making processes for capital investment. (Accuracy)
2. Trading ledger for risk management review is typically delayed because of multiple data feeds, the availability of which is impeded by network speed due to file size in two custom applications. (Availability)
3. Inability to solve data quality issues in the sales division because data is spread across multiple systems and owners, resulting in a blame game. (Agility)
4. Customer service representatives are not presented a single view of a customer account, and have to use multiple programs to achieve unified profile presentation, requiring more time to solve issues, and increased call center costs. (Access)
A Data Governance Methodology That Works
Building Blocks for Success
Analyze
* Perform data governance readiness assessment
* Define guiding principles
* Identify decision making bodies
Design
* Determine focus of data governance program (security/privacy, data quality, architecture, etc.)
* Design data governance program (standards, policies, strategy)
* Determine cross functional teams and data stewards
* Define decision areas and decision rights
Transform
* Conduct employee training and awareness
* Enact data governance program
* Deploy data governance mechanisms and tools
Sustain
* Monitor and adjust key performance metrics
* Ensure accountability and ownership through periodic review
Need help with your company's data governance programs? Contact Karl Kispert, Aujas VP of Sales, at karl.kispert@aujas.com.
