What is Data Governance Policy? Why do we need it?
Data Governance Policy consists of a document with a set of guidelines to ensure that an enterprise information and data assets are managed consistently. The Data Governance Policy contains the practices, principles and standards that the leaders of that particular Enterprise have determined to ensure that they protect and have high quality data.
The policy document clearly defines the structure of the Data Governance for the team of the enterprise that will help in their daily operations. One of the main purposes of the Data Governance Policy is that the management and data processing should ensure the enterprise data is consistent, accessible, accurate and protected.
Why do we need Data Governance Policy?
An Ideal Data Governance Policy includes building a process model for managing the enterprise data. For any successful Data Governance in any enterprise both IT and business departments should collaborate with equal responsibility and create value from the Data Assets and processes. Data Governance Policy brings benefits to an enterprise by
- Defining and assessment
- Strategizing and Planning
- Designing & Implementation
Data Governance Policy aims and addresses the structure related to Data Governance, and also includes policies on Data integrity, Data access, Data usage and Data integration.
Why is Data Governance Policy Important ?
Data Governance Policies are guidelines that help your data and information assets be used efficiently and properly. The guidelines include policies related to security, privacy, quality and access. Data Governance Policy also includes how data will be controlled and managed. Lets focus on common areas covered by Data Governance Policy.
Data Availability – For a Successful Data Governance Policy, one has to ensure that Data is available and easy to consume by the Enterprises.
Data Quality – Data is consistent, correct which will not create any problem while usage and analysis.
Data Usability – Data is documented, structured, labeled which also helps in easy retrieval and search and it is very useful with the tools.
Data Integrity – One has to ensure Data should retain its innate quality even if it is a converted, transferred, stored and viewed across different platforms.
Data Security -To Define standard processes and prevent any data leakage and loss.
Data Governance policies are guidelines that help your data and assets be used efficiently and properly. The guidelines include policies related to security, privacy, quality and access. Just like any other assets, Data is the utmost important asset in the era of Information Technology and it requires consistent and strong management. To avoid data quality issues such as conflicting information, lower quality data etc Data Governance Policy has to be implemented.
Quick Benefits of a Successful Data Governance Policy.
- Appropriate usage of the Information
- Helps to meet Regulatory Compliance
- Sound Decision Making