What are the key elements of data governance?
Data governance must guarantee the security and privacy of the data available to the company and comply with any regulatory requirements regarding confidentiality and use, such as the General Data Protection Regulation (GDPR).
Another key function is to ensure efficiency in the loading, storage, structuring and integration of this data, as well as coordinating all individuals and teams who directly or indirectly use this information.
What principles govern data governance?
Data governance is governed by the principle of data structuring, so that data is of high quality, secure and accessible in a consistent and orderly manner, with the focus always on providing regulatory guarantees to the company without neglecting to add strategic value.
What are the benefits of robust data governance?
Having structured, high-quality information will help in making sound strategic and commercial decisions, which will in turn help the company achieve its objectives.
Solid governance will prevent risks related to data misuse and its implications and will help the company maximise the economic value that data can provide.
How do data governance and data management differ?
Both functions are interrelated and therefore share importance in terms of data processing for any company.
To put it simply, for a better understanding, we could say that data governance ‘thinks’ about how data should be processed, establishing rules and strategies for optimising its storage and access, and data management ‘acts’ by implementing, in an operational manner, the rules that data governance has established, ensuring the correct availability and accessibility of information.
How should data governance be aligned with corporate strategy?
Having reliable data with regulatory compliance guarantees is a safety net for business decision-making.
The data governance team’s knowledge of the company’s organisational structure and strategy will ensure that information is structured according to the company’s needs, thus facilitating decision-making.
Data governance aligned with the internal functioning and strategic objectives of any organisation will ensure that information is displayed to the right people in the right way at all times, thus maximising its contribution to strategic objectives.
