Data governance as an accelerator, not a roadblock

Mention data governance to a developer and a chill might run up their spine.

Historically, data governance, the management of data access within an enterprise, has been seen as a time consuming, complex task with minimal long-term value to an organization. Yet along with the emerging role of the CDO (chief data officer), integrated and unified data governance is becoming a critical strategy for data-driven organizations.

Gone are the days of data governance applying only to highly regulated industries like healthcare, finance, and government. The amount of data available to organizations has skyrocketed in recent years, according to IDC the total amount of data worldwide will hit 180 zettabytes by 2025, and the chief data officer has become a critical member of any organization’s executive team.

 CDOs strive to succeed in five areas:

Data can be an organization‘s biggest asset, but only if it is properly classified and in the hands of the right stakeholders. This is why data governance is so important to the CDO — it’s their job to ensure each stakeholder has the data they need to make better business decisions. By classifying data based on type, level of risk, etc., an organization can unleash the potential of its data in a safe and compliant manner.

So how does one get started on a successful data governance strategy?

Step one, classify your data: In order to prevent legal ramifications that come with misrepresenting data, it is essential to properly classify all data within your organization. It can take up to six months to complete this process, but the end result is worth the time invested because identifying the risk associated with each piece of data is critical to compliance.

Step two, identify who has access to what data: Develop a data hierarchy within your organization so each employee has access to the data set they need to excel at their job. Determining this will depend on the employee’s role, department, level and other factors. For example, the finance team will need to have access to data on year over year company growth so they can plan budgets accordingly.