Data Governance and its importance in the current context

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6min. reading

In times like these we are going through, finding solutions to produce more, with fewer resources and in less time helps companies to stay alive in the market. Business intelligence solutions, internal and external data analysis are fundamental for business growth and development.

But in our eagerness to find solutions, to become “Data Driven”, to use Artificial Intelligence and infinite other existing solutions, we ended up forgetting the management of the data we have.

The creation of rules for the acquisition, maintenance, storage and access to this data is essential for the strategy of using data for decision-making to be effective.

Data governance is primarily about delivering the right information, at the right time, to the right person. It is the creation of information access and sharing policies within the company, so that the best decisions are made.

The democratization of data is an important factor, nowadays, for the good functioning of companies. However, democratization is not synonymous with total opening of data.

Imagine a production manager having access to HR performance reports from warehouse employees?

As the vision is different from that of HR, this can lead to problems in the communication and operation of production routines and raw material distribution.

That is why the creation of information access and availability policies is important, so that the right information is delivered to the right person.

Organizing all this data movement is essential to making the best decisions. With this in mind, a methodology called DMBoK was created, which aims to adjust the best practices in data governance.

In this way, we can highlight some Data Governance objectives:

Improve decision making – With real and structured data, managers can put “intuition” aside and make their decisions based on it;
Anticipate demands – with a well-organized data history, we can predict future demands, especially with the use of artificial intelligence;
Transparency and protection of information – with a well-structured data governance, important data is not exposed to third parties and can be correctly made available to interested parties;
Improvement in processes and cost reduction – with governance in place, processes are more organized and naturally efficiency is improved and cost reduction is natural.

Data governance is essential for companies looking for growth and better stability. With available and organized data, strategies can be better established and approaches more assertive.

Safely and effectively implementing a data governance plan is not only in line with new data protection legislation such as GDPR and LGPD, it also helps companies in this dynamic market that we are in.