The data governance as a strategic asset
Data governance is the set of processes, roles and metrics aimed at the effective and efficient use of information to enable the company to achieve its goals.
Gartner defines it as “the mapping of decision rights and the subsequent creation of an accountability framework to ensure appropriate behaviors are adopted in the assessment, production, consumption and control of data and related analytics practices”.
Organizations are rich in data that they generally struggle to transform into a strategic asset serving the business. Through Data Governance, companies can establish a solid foundation for extracting value and avoid data rich information poor syndrom (DRIP).
Data governance is also a critical prerequisite for the success of artificial intelligence projects. Finally, an effective data strategy is needed to support real-time analytics applications (proximity marketing, fraud identification, IoT solutions and so on), where information is processed immediately when it arrives and not after it has been collected in databases or datalinks.
Well-structured data governance is critical for any entity or company working with big data, as it helps turn data into key business assets. Today’s business dynamics are no longer geared towards the quantity of data but the quality of data.
Fundamental is the mastery of data, i.e. the ability to extract value from it, in order to make better use of machines, to save money and to create new and more profitable business models. But with which strategies? And which technological solutions?