Data Governance Trends for 2024
In today’s highly digitized world, data is a strategic asset. It’s no longer sufficient to extract value from your data opportunistically. To remain competitive, you must proactively and systematically pursue new ways to leverage data to your advantage. As the value of data reaches new highs, the fundamental rules that govern data-driven decision-making haven’t changed. […]
Data Governance vs Data Catalog: What’s the Difference?
The umbrella term data management covers distinct tasks, enabling a business to preserve, sustain, and extract value from data. With various disciplines comprising data management, there is often confusion on what many deem as interchangeable terms. Some examples include: data quality vs data integrity, data governance vs data catalog, metadata management vs master data management, […]
The Role of Data Lineage Tools in Business
Struggling to know how data enters the organization, where it exists or transforms as it travels through different processes and systems, data leaders coined the data lineage term to visualize data’s heritage from a dependency perspective (order). Data lineage tools documents data’s origins, movement, uses, and any changes during its journey. Data lineage allows organizations […]
Master Data Management: Common Misconceptions You Should Know
When most people think of master data management, they first think of customers and products. This is logical, as the core mission of any company is to develop products and services, find the right customers, and consistently deliver excellence. But master data encompasses so much more than data about customers and products. It includes information […]
Following the Roadmap to Better Data Governance
Data governance is no trivial undertaking. When executed correctly, data governance transitions businesses from guesswork to data-informed strategies. For those who follow the right roadmap on their data governance journey, the payoff can be enormous. When it’s done correctly, data governance can mean the difference between effective data-driven decision-making versus flying blind. The Emerging Business […]
Five Reasons Automation Is Key to Data Governance
Today’s businesses must operate at a faster pace than ever before. Across every industry, companies are striving to improve their capacity for making data-driven decisions. For data teams, that often leads to a burgeoning inbox of new projects, as business users throughout the organization strive to discover new insights and find new ways of creating […]
Better Data, Better Underwriting: Simplify underwriting with better data
Advanced data analytics enable insurance carriers to evaluate risk at a far more granular level than ever before, but big data can only deliver real business value when carriers ensure data integrity. For P&C insurance, that starts with having accurate and precise information as to the location of an insured property. Data quality is critical, […]
Solving 5 Big Data Governance Challenges in the Enterprise
According to a recent report from Drexel University’s LeBow Center for Business Analytics, 77% of data and analytics professionals say that data-driven decision-making is an important goal of data programs. However, fewer than half of survey respondents rate their trust in data as “high” or “very high.” Poor data quality impedes the success of data programs, […]
Why Your Master Data Management Needs Data Governance
Data is pivotal for the success of business operations. With cloud computing, the capacity to extract value from data is greater than ever. As this realization grows, businesses are shifting their investments from hardware to technologies that optimize data assets. Master Data Management systems (MDM) play an important role in harmonizing data assets across large and midsize […]
Preventing Data Downtime with Effective Data Governance, Observability & Quality Strategies
Today’s decision-makers rely on different types of information to help them understand the complex landscape in which they operate. Most organizations use a mix of sales reports, marketing analytics, and operational reports to help their managers with day-to-day decisions and strategic planning. Such reports often turn out to be inaccurate. Imagine this scenario: the VP […]
Financial Services Regulations: Building Sustainable Compliance Programs
To comply with a complex array of regulations, financial services organizations have stepped up as early adopters of data governance frameworks. Additionally, regulators are demanding stronger and more comprehensive data quality capabilities than ever before. The aim is to minimize risk, safeguard private information, and ensure the adequacy of internal controls and sustainable compliance. Organizations that […]
5 Data Governance Best Practices
Data governance is rapidly shifting from a leading-edge practice to a must-have framework for today’s enterprises. Although the term has been around for several decades, it is only now emerging as a widespread practice, as organizations experience the pain and compliance challenges associated with ungoverned data. Briefly stated, data governance involves the formal orchestration of people, processes, and […]