BENEFITS OF DATA GOVERNANCE
- Create an information-centric and informed organizational culture.
- Establish a foundation to provide accountability for information assets.
- Provide effective and appropriate information security.
- Improves the quality and usefulness of information by making it timelier, more accurate, more complete and more accessible.
- Reduces the costs of managing information.
- Allow sharing of data through reusable processes; reuse data through shared processes.
- Provide self-service business intelligence capabilities.
- Develops enterprise-class data management staff.
- Adopt enterprise-class data management tools.
- Data governance provides a comprehensive view of all data assets.
- Helps eliminate data silos as much as possible.
- High light data life cycle and prevent data breach and provides data that is fit for purpose
- Enable the enterprise to adopt self-services related to the involvement of data
- Make data change management easier and controllable, helps in data migration projects.
- Provides a collaborative mechanism for different roles and people to coordinate in a defined and agreed upon workflow with agreed accountabilities.
- Enables the use of best in class data management practices.
- Provides a common understanding of business vocabulary and logical names for the underlying data elements, data sets, and data catalogs.
- Enables the traceability of assets covering the lifecycle from been created to be published.
- Enables the organization to make proper use of policies and processes that were agreed and defined to solve the underlying situation with the mentioned roles and responsibilities.
- Reduces the effort to find data, by sharing accountabilities to those responsible for data sharing, data exchange, data access and data change requests.
Data Governance helps organization to achieve their organizational strategies that requires the underlying assets to be governed and managed. Though DG does not results in direct revenue generation for the enterprise, rather it helps the enterprise to strategies all those factors that result in direct revenue for the enterprise.
More than 50% of the time of a Business Analyst is utilized to find the right data, DG helps in reducing the time to allocate the right data source thus resulting in maximizing the productivity of a BA that helps in the acknowledgement of a correct decision.
Data breaches and Data security issues that has to comply with certain regulations, usually results in heavy fines for the enterprise, DG provides a comprehensive way to protect data breaches and data security concerns.
DG improves the operational efficiency of an enterprise, by providing a structures approach to bridge business and IT through common goal, and by giving accountabilities for establishing and maintaining data quality.