Everything you need to know about Data Governance
Data Governance is the overall management of the data in your business. It considers the availability, usability, integrity + security of data.
A sound Data Governance Policy includes a governing body, a defined set of procedures and a plan to execute those procedures.
How do we ensure that data governance is relevant and practical?
Data is the key to more informed decisions and relevant products and services in the future. This cannot be achieved without quality, accurate data that is easily digested, accessible and understood.
However this can only be achieved if there is a framework around our data. New systems and processes will enable great data, but not deliver or manage it either initially or continuously.
In order to facilitate this, we need to provide a Data Governance Framework and a Data Governance Policy that:
- Aligns and supports the strategy, purpose and objectives of the business
- Is pragmatic and not overly complex;
- Is agile and not prescriptive;
- Is relevant
- Is driven by a common vision and set number of guiding principles; and
- Is scalable
What does a Data Governance strategy, that is aligned with your overarching business strategy, look like? >Download Notitia’s Data Governance Strategy Template for free here<
What is Data Governance? Why does it = Data Quality?
Data Governance produces data quality:
>Data-driven businesses rely on data quality: easy-to-access, reliable and trustworthy data.
>Businesses who lead their market understand that access to data + data quality is their differentiator.
>Data + data quality is the key to informed decisions + developing relevant products for their customers.
>Data Governance provides the trigger and discipline for regular and stringent data quality monitoring as well as the forum for addressing issues and determining the course of action required to remediate poor data quality and/or enhance data quality for the business.
How we work with our clients to implement Data Governance
We work with you to make sure that your individualised data governance framework is:
>Relevant to your specific goals + objectives
>Pragmatic and not overly complex: making it easy to communicate and implement across the business
>Agile + scalable: working alongside growth, changes + needs as they arise
>Driven by an overarching vision + principle.
Why you need data governance, what our clients tell us
At the “interview” stage with our clients, these are some of the most common themes + problems encountered.
Data Quality + Integrity: inaccurate, incomplete, or unreliable data can lead to flawed analysis, flawed decision-making, and compromised business operations.
Trust the data: reliable and accurate data enables informed decision-making, improves operational efficiency, and fosters customer satisfaction, ultimately leading to business growth and success.
Single source to access useful data: ensures consistency, reduces redundancy, and enables efficient data analysis, leading to improved decision-making and streamlined operations.
Ownership + Accountability: data privacy, compliance with regulations, establishes data governance, and fosters trust among customers and stakeholders.
Applications enable + support data governance principles: consistent data management, compliance with regulations, and enhanced data quality and integrity.
What are the Data Governance Guiding Principles?
Transparent Data Culture: promotes data-driven decision-making, fosters collaboration, and builds trust among employees, leading to better business outcomes, competitiveness and innovation.
Trustworthy Data: data accuracy, reliability, and security, instilling confidence in decision-making, fostering stakeholder trust, and mitigating risks associated with flawed or compromised data.
Accessible and Useful Data: allows your people to use data efficiently, empowers your people with valuable insights, facilitates informed decision-making.
Moving towards a single source of truth: eliminates data silos, promotes consistency and accuracy across your business, enables effective collaboration, and facilitates better decision-making by providing a reliable and unified view of data.
Ownership + Accountability: establishes clear responsibility for data quality, security, and compliance, ensuring data integrity, fostering a culture of responsibility, and minimising risks associated with data mishandling or misuse.
Supports Innovation: encourages exploration + experimentation. It leverages data-driven insights to uncover new opportunities, optimises processes, and develops innovative products or services - driving business growth and competitive advantage.
Security + Privacy: safeguards sensitive information, protects against unauthorised access or breaches, ensures compliance with data protection regulations, and preserves customer trust, reputation, and legal compliance.
>Questions about how we can help? Book a meeting.
About Alex Avery, Notitia Managing Director + Founder
Alex Avery, Notitia Founder and Managing Director, heads our operations in Melbourne to provide data analytics and digital transformation services to more than 60 clients across Australia.
He is highly regarded for his ability to quickly analyse complex operational scenarios and provide workable solutions to achieve business objectives. This, along with considerable experience in the management of technical and business teams across both project environments and "business as usual" is the reason why most clients have come via word of mouth.
Having spent close to a decade working across Australian and global startups, Big 4 consulting and academia, Alex launched Notitia in 2019, which has since skyrocketed in growth.
Today, Alex leads his expanding team across data + analytics, design + development + strategy to help Australian clients solve their data challenges.
He sees technology as an enabler and partners with the biggest vendors to utilise best of breed software.
With the right technology and expertise, Alex says that problems of any size can be solved through valuable insights from accurate data.
Book a chat with Alex to find out how he can solve your data challenge.
