Additionally, data insights can provide operational efficiencies and cost reductions, while also
streamlining operations in sales, marketing, and supply chain. Applying governance to data will also
significantly reduce risks related to data breaches, help realize value for investments in data initiatives,
and facilitate regulatory compliance.
The key to remember is that governance is the heartbeat that drives value from data.
Data Management: An Organizational Challenge
At its core, data management fundamentals enable organizations to create, use, and share information
across the enterprise. That necessitates breaking down organizational and data silos. The ability to shift
from data as a departmental asset to a corporate asset requires a change in mindset.
Let’s use the example of finance to illustrate enterprise data sharing. No one questions the CFO’s ability
to define and manage the chart of accounts and general ledger processes and business rules. Individual
groups don’t have the power to define revenue, cash, and depreciation differently—that’s the CFO’s
organizational remit.
Data is different in most other groups, however, because all the associated data owners can adjust
definitions, rules, and requirements based on their department’s needs, irrespective of the upstream and
downstream implications. Data is fluid and traverses all levels of an organization in various forms. Its
meaning can vary based on its context, making it a challenge to keep up with the pace of business and
build consensus without strong governance.
Other realities that make enterprise-wide data management a complex challenge include: a) cultural and
organizational change management; b) rapidly changing technology platforms; c) exponentially
expanding data volumes; d) risks associated with data breaches; and e) disparate and disconnected IT
systems.
Silos Make Data Disconnects Worse
Technology, process, and data silos all run counter to the true value proposition of data, which is to make
it accessible and pervasive across the organization. To evolve into a corporate asset, data must be
quickly and easily shared across business processes (with the appropriate security controls). This can
be a challenging journey, but it is made much easier using a prioritized roadmap based on measurable
business impact. This is the key to securing business buy in and unlocking the value proposition of your
data assets.
A common data asset pitfall is reporting built on incomplete, inaccurate, or stale data, resulting in reports
that stakeholders do not trust or agree upon. The root cause is a lack of governance to drive consistency,
build trust, and improve adoption across the organization.
That’s a perennial problem in customer information, for example, whether it’s related to mailing lists,
invoicing, or marketing campaigns. With customer data governance, companies can accurately connect