The key component of an enterprise information management strategy, data governance is the decision-making and an oversight procedure to create and maintain the quality and integrity of an enterprise data.
Data governance Institute state that “Data Governance is a system of decision rights and accountability for information-related processes, executed according to agreed-upon models which describe who can take what actions with what information, and when, under what circumstances, using what methods.”
Reason for use of data governance
Uncover adulterated data from enterprise which is not just that of hackers but also by staffs and contractors having right of usage to sensitive areas, whilst the necessary safeguards are not sufficient.
Two examples of significant data slip in 2014
One of the largest bank in the state JP Morgan Chase, had a huge data breach which affected 76 million households and about 7 million small businesses. Hackers got hold of personal information of customer names, phone numbers, email addresses and addresses.
The other organisation is the world`s largest home improvement, Home Depot, it was confirmed that whopping 56 million credit and debit cards were affected by a data breach, and also 53 million email addresses.
The Irish media also reported various number of data governance issues in connection with government departments and private companies.
Data Protection Commissioner Annual Report for 2014, reports a record number of data breach notifications in 2014 (2,264).
A thriving data governance system must including the following:
- Custodians and owners of data assets of an organisation must be clearly stated or define.
- Responsibilities of the different section of data and the outline of level of responsibilities in relation to Accuracy, accessibility, consistency and completeness must be clearly written.
- There must be written organisation policy regarding storing, archive, back up of data and protection from possible mishaps.
- Controls and audit procedures must be put in place to ensure ongoing compliance’s with organisation and government regulations.
- Rules protecting data access and levels of accessibility by personnel
Data governance is a vital component of any organisation as it addresses data quality and security requirements regardless of where the data is captured, utilized or stored. Its importance is being understood globally as evidenced by Rand worldwide survey in 2013 on data governance, which found that 96% of respondents shows that data governance is very important within the organisation.
Customer demands, regulatory compliance, competitive pressures and mergers and acquisitions are motivating organizations to improve data quality and access to information. Leading organizations now realize that data governance is critical to their future viability actionable and intelligent data which gives an organisation a competitive advantage.
Utopia.com – Data Governance Benefits for Today and the Long Term (10 Jun 2013)
Techtarget.com – data governance
The data governance institute.com
TDWI.com – New Regulations Bring Advancements in Data Governance
Data Governance online: http://www.firstsanfranciscopartners.com/practices/data-governance/ retrieved 18/08/2015
Gwen Thomas (2014) Defining Data Governance; http://www.datagovernance.com/defining-data-governance/ retrieved 12/08/2015