Data governance is a set of processes that ensures that important data assets are formally managed throughout the enterprise. Data governance guarantees that data can be trusted and that people can be made accountable for any adverse event that happens because of poor data quality. So Data Governance is about putting people in charge of fixing and preventing issues with data, so that the enterprise can become more efficient.
Data governance encompasses the people, processes, and information technology required to create a consistent and proper handling of an organization’s data across the business enterprise.
- People – Effective enterprise data governance requires executive sponsorship as well as a firm commitment from both business and IT staffs.
- Policies – A data governance program must create – and enforce – what is considered “acceptable” data through the use of business policies that guide the collection and management of data.
- Technology – Beyond data quality and data integration functionality, an effective data governance program uses data synchronization technology, data models, collaboration tools and other components that help create a coherent enterprise view.
The benefits to a holistic approach are obvious; better data drives more effective decisions across every level of the organization. With a more unified view of the enterprise, managers and executives can create strategies that make the company more profitable.