The Future of Data Governance

How Modern Data Governance Tools are Increasing Data ROI

Mark PriebeJuly 3, 2019

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Historically, data governance is a term that describes regulatory compliance and defines processes and policies for managing data assets and access across the organization. Isolated IT professionals typically drive data governance technologies and initiatives, providing data to business users across the enterprise for various projects. However, with the rapid advancement of analytics and explosive growth of data, business users require data quicker than IT can supply.

One major stumbling block for many organizations is the failure to adopt modern data governance technologies. Out-of-date technologies can prevent business users from effectively leveraging data for better business decisions, as highly technical tools can only be used and understood by skilled IT resources. If businesses want to stay competitive in today’s data-driven world, they must adopt new technologies to evolve their data governance programs to meet the changing demands of business users.

Breaking Down Organizational Barriers

 Data governance technologies are quickly evolving to meet the needs of today’s digital business. Recognizing the need for a business-focused approach to data management, organizations are now adopting all-inclusive data intelligence platforms that integrate data governance, data quality and analytics capabilities for data-driven initiatives. Data intelligence platforms enhance business user control over data, empowering them to self-service their data needs without relying on an overburdened IT department to solve business impacting questions.

However, the data intelligence platform must include certain core capabilities to ensure data assets are trustworthy, readily accessible and up to date. The platform must offer integrated solutions that feature a foundation of data governance and metadata management to deliver a current and comprehensive view of an organization’s data landscape, from the data available, its owner/steward, location, lineage and usage, to its associated definitions, synonyms, and business attributes. It should allow business users to easily and quickly define, track, and manage all aspects of their data assets, enabling collaboration and knowledge sharing across the entire enterprise.

In addition, the platform must include data quality controls for conducting data integrity checks such as data profiling, consistency, conformity, completeness, timeliness, as well as more advanced quality rules such as reconciliation and transaction tracking. These rules validate the quality of data across the data supply chain to ensure continued trust among business users. Lastly, to automate the continued improvement of data quality, the platform should incorporate analytical capabilities that apply machine learning algorithms to enhance and monitor data accuracy and integrity.

By establishing modern data governance, business users can successfully take advantage of their data to gain actionable, data-driven insights that are timely, relevant and accurate.

Realizing the Benefits of Modern Data Governance

 At a large pharmaceutical company, data governance was limited to IT resources focused on master data management (MDM). The company didn’t have the right data governance framework in place and business users didn’t have access to the data they required to generate meaningful business intelligence. Business users throughout the organization lacked the expertise to understand and take advantage of data IT provided because the reports were overly technical. By the time the data was received, it was often stale, out-of-date, and no longer valuable.

By implementing a data intelligence platform, the pharmaceutical company was able to provide both the direction and framework to proactively govern enterprise-wide data via business rules and standards. Business users across the entire organization could now easily and quickly access, understand and leverage the right data assets to improve business outcomes and enhance growth.

By ensuring businesses evolve their data governance processes and technologies to embrace business-friendly, integrated data management tools, organizations can establish trust in data across the organization to help business users access data, adopt new technologies and break down barriers across the organization.

Are you looking for additional details about the future of data governance and integrated solutions? Please download the data sheet below.

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