Data is the fuel that keeps your business moving, enabling you to make better decisions that optimise your operations and lead to long-term success. Most organisations have access to a wide selection of data points, from consumer and operations data to sales and marketing data.
However, even though your company might have accurate, high-quality data that’s usable at the moment, this will not always be the case. That’s where data governance comes in.
What’s Data Governance?
MEGA INTERNATIONAL
Data governance is a process that utilises pre-set standards and policies to ensure that data in an organisation remains secure, high-quality, usable, and available throughout the entire data lifecycle. Additionally, data governance facilitates proper data usage across an organisation.
Proper data governance is always coupled with robust data management practices that include the use of top-tier data quality tools such as Trestle’s phone validator API to ensure that only high-quality data enters and remains in your company’s databases.
Difference Between Data Governance and Data Management
NEXTGEN INVENT
It’s not uncommon to encounter the terms ‘Data Governance’ and ‘Data Management’ being used interchangeably. Though they both refer to practices that promote data quality in an organisation, they are different in several aspects, such as what they focus on, their implementation, and their purpose.
Data governance focuses primarily on ensuring that the data across your organisation is always of high quality and integrity, thus ensuring it’s reliable and usable at all times. Data management, on the other hand, is a practice that focuses on the broader practices and activities related to the day-to-day handling and management of data.
You could say that data governance is a subset of data management.
Why Do You Need Data Governance in Your Company?
Effective data governance helps to prevent data inconsistencies in different systems across your organisation. That’s crucial, considering the insane amounts of data that companies collect every day. To avoid issues with data quality, you need a solution that guarantees the accuracy, consistency, and reliability of all the data in your databases.
Here are the main roles of data governance:
1. Ensures Good Data Quality
As mentioned before, data governance is crucial for consistency in data quality. A robust data governance framework with properly defined roles and responsibilities makes sure that your databases are as complete as they can be. This is crucial for better decision-making and reliable analyses.
2. Boosts Efficiency and Productivity
Good data governance can also enhance the efficiency and productivity of your business by centralising your source of truth. That’s a crucial factor to consider since organisations tend to become decentralised the larger they grow. When this happens, multiple power centres emerge, often operating according to different standards. Data governance plays a major role in preventing that.
3. Reduce Risks
Data governance is vital for safeguarding sensitive information in your organisation. This reduces the risk of data breaches and similar issues that could ruin your organisation’s reputation. Better security performance results in stronger trust connections with customers and other stakeholders.
Wondering how to improve your ability to meet stringent data protection regulations like GDPR and CCPA? Data governance should be a great answer! It facilitates the creation of a strong framework for data management and, thus, reduces the risk of non-compliance, which is typically associated with hefty fines.
It’s clear, at this point, that data governance is a vital business solution that makes it possible for the different departments in your organisation to read from the same script. As a result, you will reach your goals with greater ease and avoid inconveniences that can disrupt business.
Trestle makes it possible to establish a strong data governance framework that will take your business to the next level by providing powerful phone data quality assurance APIs. Since phone numbers give you a direct, personal line of communication with your customers, you will have accurate information that you can use to enrich other fields in your databases over time.
So, visit tresteiq.com today to create a solid foundation that will guarantee success.
