2 • Neera Bhansali
together to detect and interpret problem areas, identify opportunities, and
implement strategic objectives. Strategies dene the purpose of organi-
zations, the competitive domain of rms, and the resource commitment
these organizations make to achieve and sustain competitive advantage.
Hence, developing an appropriate data strategy that ts the marketplace
is one necessary ingredient for business success. Eective data governance
reduces uncertainty and helps improve an organization’s performance.
Anorganization’s ability to collect pertinent information and act on sig-
nals that others miss provides it a strategic advantage.
THE NEED FOR DATA GOVERNANCE
In the twenty-rst century, organizational business is supported by data
and information in many ways and forms. A large part of data generated
today is in the form of electronic or digital data. For example, high-volume
transaction processing systems (nancial or accounting systems) gener-
ate reports, statements, and electronic checks; analytical systems produce
documents, spreadsheets, forecasting models, visual images; marketing
and planning systems generate emails, Web pages, XML from the Web or
corporate intranet, and so forth. Data resides in databases, les, and other
media. All this data needs data management to identify, categorize, pre-
serve, and retrieve data when required for business purposes or regulatory
needs. A rule of thumb oen used is that corporate data volumes double
every 18 months. However, mobile and online data are growing at an even
faster rate. From cost containment, regulatory compliance, strategic ini-
tiatives, and beyond, the need for businesses to manage proliferating data
is becoming even more urgent.
Maintaining an ever-increasing volume of data, processing it, and
deriving information from it to meet the competitive needs of the mar-
ket requires not only good data management practices, but a data gover-
nance process as well. Eective data governance improves data safety and
security, improves data quality, and ensures compliance with data-focused
regulations as well as helps an organization manage and use its data eec-
tively. It increases data consistency, increases accountability for the orga-
nization’s data, and improves decision making. Data governance must be
a business-driven program that uses a data-governance maturity model to
build a strategic road map.
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