Data management includes a data governance discipline that supports knowledge aspects like business analytics, data warehousing, master data management, data literacy, and more. The key components of a solid data governance program are given below.
People
IT staff is the backbone of the data governance program but there are CDOs, data stewards, data architects, and more that help to establish and implement the governance across the enterprise successfully. If there is a need for improving data governance skills in your organization, then look for a consulting firm for training and mentoring. Data Management University offers data governance training courses that have helped many organizations and small businesses to improve their governance capabilities.
Data strategy
Creating a data governance strategy is crucial. Many businesses ignore a documented strategy, which ends up in a waste of resources and productivity. The skill to create a governance roadmap ensures that data quality and compliance are fulfilled.
Data processes & policies
Establishing major data processes like monitoring data quality, data issue tracking, data sharing, impact analysis, data lineage trailing, automated data quality tests, etc. helps to reach the defined governance goals. Data policies define how to use the data at an enterprise level. Policies include regulatory adherence, outbound data sharing, etc.
Data rules and standards
Data standards offer a framework and approach to ensure compliance of data policy, for example, the use of ISO 3166 standards. It defines the codes for country names, special geographical areas, dependent territories, and more. The data rule defines best practices to ensure compliance with data standards. For example, if a company is listed under the ISO 3166 standard then it will establish data rules for domain development, master & reference data, metadata management, accessibility, and more.
Data security
It involves how to protect your online database from unwelcome activities of official & unofficial users like data breaches, cyber-attack, and espionage. Allocate an entire dedicated team for data security.
Communication plan
It includes the goals and tools to be applied for every kind of communication. A communication plan has to be incorporated in the initial phase while developing a governance program. The plan will detect the challenges and effectiveness of current communication between governance and the entire organization.
Socialization
How to properly govern the company data has to be incorporated into every area of your business. It has to become a part of company policies, hierarchy, processes, and internal culture. The socializing data governance plan is tailored via regular certification and workshops. Invest in workshops to ensure that the people element of your data governance offers maximum business value.
KPIs
Establish key performance indicators [KPIs] and metrics to measure and monitor the overall impact of data governance on your business. Consistently measuring KPIs and metrics is crucial for the success of your governance program.
Technology
For effective data governance implementation, there is a need for different technologies for as much automation as possible. The technology used within the enterprise will be sufficient to implement small data governance programs but for large ones invest in suitable software. It will help to ease the data governance process that includes scanning files & databases for capturing required metadata, and more.
