Top 7 benefits of data governance.
We have already discussed what data governance is in a previous post, but why exactly should it be a focus in your organization? Here is our collection of the top 7 benefits of achieving successful data governance.
The main benefits of data governance
Breaking down data siloes
Data becomes siloed when there is no centralized system for managing data. Individual teams within the business become responsible for managing their data and this data is rarely shared between teams. A key aim of data governance is to dismantle these data silos.
Effective data management
Another key aim of data governance is to ensure that data is managed effectively and responsibly. This protects against the mishandling of sensitive data like customer details or private enterprise information. It also reduces the likelihood that data will be lost, leaked, duplicated or contain errors.
Further benefits of data governance
● Improved business decision-making — More accurate data leads to a higher degree of confidence in business decisions.
● Improved data quality — Less duplication and errors.
● Regulatory compliance — Having a robust framework makes it easier to ensure compliance and accommodate new regulations in the future.
● Increased operational efficiency — Business processes can be optimized based on results from data analysis.
● Improved understanding of business — Executives can get a true “snapshot” of the business based on sights found by data scientists. Blind spots can be revealed.
Access the full guide
Data governance is a complex topic that spans a wide range of industries, departments and stakeholders. In order to fully understand what it means, and how to practice good data governance, we have compiled a detailed and comprehensive guide answering the following questions:
● What is data governance?
● Why is data governance important?
● What are the aims and benefits of data governance?
● Who oversees data governance in an organization?
● What does a data governance framework look like?
● How can enterprises implement data governance?
● What are some data governance best practices?
● What can NodeGraph do to help?