A step-by-step guide to setting up a data governance program
In this article we will share our approach to developing a data governance program to drive data transformation and fuel a data-driven culture.
Data governance is a crucial aspect of managing an organization’s data assets. The primary goal of any data governance program is to deliver against prioritized business objectives and unlock the value of your data across your organization.
Realize that a data governance program cannot exist on its own – it must solve business problems and deliver outcomes. Start by identifying business objectives, desired outcomes, key stakeholders, and the data needed to deliver these objectives. Technology and data architecture play a crucial role in enabling data governance and achieving these objectives.
Don’t try to do everything at once! Focus and prioritize what you’re delivering to the business, determine what you need, deliver and measure results, refine, expand, and deliver against the next priority objectives. A well-executed data governance program ensures that data is accurate, complete, consistent, and accessible to those who need it, while protecting data from unauthorized access or misuse.Consider the following four key building blocks of data governance:
For example, if the goal is to improve customer retention, the data governance program should focus on where customer data is produced and consumed across the organization, ensuring that the organization’s customer data is accurate, complete, protected, and accessible to those who need it to make decisions that will improve customer retention.
It’s important to coordinate and standardize policies, roles, and data management processes to align them with the business objectives. This will ensure that data is being used effectively and that all stakeholders are working towards the same goal.
Starting a data governance program may seem like a daunting task, but by starting small and focusing on delivering prioritized business outcomes, data governance can become a natural extension of your day-to-day business.
What are the business objectives and desired results for your organization? You should consider both long-term strategic goals and short-term tactical goals and remember that goals may be influenced by external factors such as regulations and compliance.
A data strategy identifies, prioritizes, and aligns business objectives across your organization and its various lines of business. Across multiple business objectives, a data strategy will identify data needs, measures and KPIs, stakeholders, and required data management processes, technology priorities and capabilities.
It is important to regularly review and update your data strategy as your business and priorities change. If you don’t have a data strategy, you should build one – it doesn’t take a long time, but you do need the right stakeholders to contribute.
Once you have a clear understanding of business objectives and data needs, set data governance goals and priorities. For example, an effective data governance program may:
Clearly defining your goals and objectives will guide the prioritization and development of your data governance program, ultimately driving revenue, cost savings, and customer satisfaction.
Identify key stakeholders and roles for the data governance program and who will need to be involved in its execution. This should include employees, managers, IT staff, data architects, and line of business owners, and data custodians within and outside your organization.
An executive sponsor is crucial – an individual who understands the significance and objectives of data governance, recognizes the business value that data governance enables, and who supports the investment required to achieve these outcomes.
