In today's fast-paced and increasingly digitized business world, the significance of data is unquestionable. It is the foundation of decision-making, the driver of initiatives, and the fuel that powers organizations to outpace competitors. For some businesses, data is etched into even the most basic day-to-day operations.
Therefore, data availability, quality, consistency, relevance, and trustworthiness are crucial for a business's ability to function and achieve its objectives. As organizations define Data Governance services (what they get out of it), we wanted to help you by identifying five to keep in mind to make sure value creation is at the top of the agenda. This will also guide any Data Governance assessment you will do.
The Importance of Designing Data Governance that Delivers Value
Organizations around the world suffer from ineffective Data Governance services. The problem usually starts at the top with C-level executives that do not fully recognize Data Governance's value-adding potential.
An organization that does not implement proper Data Governance misses opportunities to generate revenue and optimize operations. Because the quality of analytics is compromised, decision-makers do not get reliable information to chart the right course of action.
According to studies, data scientists in global enterprises spend 45 percent of their working hours on non-value-ad