Data Governance and accountability

Defining Data Governance

Data governance serves as a framework within organizations to appoint individuals with authority and control over data assets, and deciding how these assets can be used. This comprehensive approach involves the integration of people, processes, and technologies to effectively manage and safeguard data assets.

According to the Data Governance Institute, it can be described as ‘a system of decision rights and accountabilities for information-related processes, executed according to agreed-upon models which describe who can take what actions with what information, and when, under what circumstances, using what methods.’

Similarly, DAMA International defines it as the ‘planning, oversight, and control over management of data and the use an of data and data-related sources.’

Evolving Data Governance within an Organization

Successful organizations continuously enhance their operations and gain competitive advantages by using data. Robust data governance and ingrained accountability play a crucial role in safeguarding business interests and  customer/ partner data. This approach fosters innovation and mitigates risks, creating a favorable environment for growth.

The Importance of a Clear Data Governance Strategy

Formulating a well-defined data governance strategy ensures that data is handled in alignment with an organization’s objectives and industry best practices. Establishing data ownership and accountability  compels organizations to take responsibility for data collection, storage, and utilization. Accountability is foundational for maintaining data privacy, security, and ethical use, enabling organizations to make informed business decisions confidently and adhere to diverse industry regulations.

In his LinkedIn Post  Senguttuvan Thangaraju outlined the importance of data ownership and accountability:

• Data Privacy and Security: Clear data ownership helps protect sensitive information from unauthorized access or breaches, ensuring compliance with privacy regulations.
• Ethical Data Use: Accountability promotes ethical practices in data handling, preventing misuse, bias, or discriminatory actions.
• Trust and Reputation: Demonstrating ownership and accountability builds trust with internal and external customers, partners, and stakeholders, enhancing an organization’s reputation.
• Decision-Making and Efficiency: Clearly defined ownership allows for efficient decision-making processes, data-driven strategies, and accurate reporting.

Interested in learning more?  Watch the webinar recording below