An effective data governance policy that your entire business can follow is extremely important in today’s day and age, especially with the onset of new legislation such as the GDPR. Supported by the correct technology, the policy needs to involve every employee that comes into contact with your customers and once the policy is implemented, it is critical that your sales and marketing teams adhere to its requirements.
Management strategy expert, John Horodyski lists how a governance program can benefit an organization as it does the following:
- Facilitates strategic planning and efficient decision-making.
- Builds a common understanding of the content and users’ technology.
- Provides a forum for users to advocate for their needs.
- Establishes clear user feedback and support channels.
- Grows understanding of required roles and responsibilities.
- Monitors data quality and ongoing value.
Over time, good data governance and management will become even more important to banks in ensuring compliance as they enter a new age of self-service access and data preparation tools.
These tools will help drive productivity and competitive advantage by enabling any decision maker in the enterprise to quickly prepare data so they can operate at their full digital potential.
It is also important to remember that the effort invested in better data management, data lineage and data governance will pay dividends today but also further down the line.
Written by DFGR Research Team
DFGR is a specialist Recruitment & Executive Search firm that solely focuses in the Digital Forensics & Cyber Security, IT Risk, Intelligence Insights & Analytics and Corporate Investigations space.
Explore our live vacancies here.