Future of Data Governance in Business – Informatica Consulting
Compliance is the most common use case in implementing governance that can be justified easily. But many organizations implement an extremely ridged structure with a clean compliance outlook, or they only focus on a small section of the data governance having very small sub-capabilities. Some of the data experts believe that organizations have so far failed in growing a compliance-based Data Governance plan that contains valid business values. Informatica Consulting offers a justified enterprise data governance solution for on-premise or in the cloud, with general data use cases that fulfill the business and IT needs.
New regulations such as GDPR and political uncertainty have limited the use cases for Data Governance, which resisted its growth to attain the greatest value. GDPR has really made businesses think about their management of data. Where data governance is upheld, companies can then unlock the potential within their data.
Organizational compliance pays more attention to strategic, cost-effective implementation. But today, organizations need to think wider and recognize its benefits of achieving future business objectives like:
- Data transformation
- Data-driven decision-making
- Advanced Analytics
- Machine Learning and data science
Good data governance should embrace the business needs of the present as well as the future. Improved data governance can also support the needs of the modern organization, including:
The base of data literacy lies in having a full understanding of the data and realizing how it can be used. An ordinarily stacked dictionary that you are using from a long time is not enough; now there is a need for 360° data glossary, which you can extract anytime and anywhere.
Data-driven decision making
Modern companies will encompass data literacy in advanced analytics, including machine learning and data science. Analyst need to give time for data preparation, this process helps to bring better results with trusted data quality and definition. Therefore, for these businesses, data governance will work as an effective service provider.
Data governance should strictly couple with analytics ethics in this new era. Although all the changes required in data governance will constantly support your business.
Data management culture
Today, data governance is no just a team or department but a professional center focused on all the enterprise information and used by the entire organization. The data governance team should master the skills of evaluating, interpreting and understanding of data to evolve and reframe it to give an organization design based on the business profile. Analytical experts supporting the whole process have to enhance the data value and strategize data according to business growth constantly.
Future business needs are differentiated in diversity from the past requirements and the information from the data is getting more diverse too. Companies need to therefore, match tomorrow’s data governance disciplines too. Informatica Consulting helps companies cultivate data strategies with a team of specialist to develop a data-driven culture, process, governance and advanced tech skills to be competitive in the big data world of the future. ExistBI are Informatica partners and offer services in the US, UK and Europe.