Data governance is a collection of processes, roles, policies, standards, and metrics that ensure the effective and efficient use of information in enabling an organization to achieve its goals. It establishes the processes and responsibilities that ensure the quality and security of the data used across a business or organization. Data governance defines who can take what action, upon what data, in what situations, using what methods.
A well-crafted data governance strategy is fundamental for any organization that works with big data, and will explain how your business benefits from consistent, common processes and responsibilities. Business drivers highlight what data needs to be carefully controlled in your data governance strategy and the benefits expected from this effort. This strategy will be the basis of your data governance framework.
For example, if a business driver for your data governance strategy is to ensure the privacy of healthcare-related data, patient data will need to be managed securely as it flows through your business. Retention requirements (e.g. history of who changed what information and when) will be defined to ensure compliance with relevant government requirements, such as the GDPR.
Data Governance helps enterprises/organizations save both money and time on bad data, helps to improve customer relationships, and focuses on generating your revenue. With quality and well-defined data, companies are more likely to acquire customers and retain the existing customers and contribute to the total well-being of the company.
- Clear Understanding of data across enterprise
- Improved Data Quality
- Master Data Management/Golden Record
- Regulatory compliance
- Improved Data Management
A Data Owner is an individual who ultimately is accountable for the quality of one or more data sets. Most of the senior-level employees are equipped with the resources, budget, and authority to define, clean, and maintain the data which they own. One of the important points in this context is that an ideal Data Owner is usually not the same person who is responsible for managing the data related to day-to-day work.
Suggestion to refine with following:
Data owners are either individuals or teams who make decisions such as who has the right to access and edit data and how it’s used. Owners may not work with their data every day, but are responsible for overseeing and protecting a data domain.
To prevent inconsistent data silos in different business units
For a shared understanding of data, to agree on a common data definition
To focus on data quality through efforts to identify and fix errors if any in data sets
To provide reliable information for the decision-makers
To implement policies that will prevent misuse of the data and also data errors
To ensure compliance with data privacy laws and other related regulations.
The data dictionary is a set of tables that serves as a centralized repository for technical metadata and is very rarely used outside of information technology. Business glossary contextualizes and defines the critical data and reporting elements for the entire enterprise. For greater clarity, they are written in plain text, accessible, and will often be used for cross-reference terms.