Data is often the catalyst that drives Business direction and growth. However, if data is cryptic and not understood, then how can such data contribute to such direction or growth? Just like in life, we learn from our past, as we gain direction and insight from previous events or activities to make data driven decisions.
Additionally, when evaluating data and the reports or tabulation generated from such data, we must ensure consistency in our understanding and interpretation of such data. If our understanding or interpretation differs, the ensuing influence on business direction or growth may be flawed and incomplete.
As an example, a telecommunications company generates a weekly report that identifies ‘soft subscribers,’ those users whose usage falls below a given average or threshold; and this report drives targeted marketing or customer communication to increase engagement. However, as this company did not employ any standards, the definition of soft subscriber varied between departments and between analysts that had prepared these reports.
An integral component and building block of any data governance solution is a business glossary that documents and makes available a set of approved and complete concepts within an enterprise glossary. This minimizes any misunderstanding and confusion of the terminology used within the business and facilitates communication, correct data access and reporting.
A mature and complete glossary requires participation from the business community to sustain and define the terms and the relationships within them. The glossary further drives greater awareness of the language of the business, its meaning and understanding.
With a robust data governance solution, an enterprise can manage and publish a glossary which consists of ‘categories’ and ‘terms,’ along with additional classifiers and descriptors. Categories contain terms, which represent the concepts which are fully detailed and explained. Categories help organize the terms, per subject or domain. Categories further allow for refinement in the management of the glossary according to varied domains or areas of the business.
Firstly, define the process for creating and managing the terms of the glossary.
