The aftermath of Brexit has triggered a shift in the global landscape of data protection regulations, challenging organizations to reevaluate their privacy and security policies. As the United Kingdom contemplates whether to align more closely with or diverge from EU standards, the importance of data governance is becoming increasingly evident. In this era of evolving data dynamics, statistics indicate that organizations are moving toward a centralized model of analytics and data governance. However, the tide is turning, and a more balanced approach is emerging. In this blog, we explore the changing face of data governance and how it is becoming ingrained in the very culture of organizations.
The Shift in Data Governance Trends
A significant number of organizations currently favor a centralized model of data governance. This approach, while providing control, often lacks the agility needed to adapt to rapidly changing data environments. But the data governance landscape is in flux, and agility is becoming paramount. To stay competitive, organizations must embrace a more balanced approach to governance, one that integrates seamlessly with their culture and operational strategies.
Cultivating a Data Governance Culture
Data governance cannot thrive solely through policies, tools, or strategy; it must be woven into the very fabric of an organization’s culture. To achieve this, organizations need to undergo a transformation in their perception of data governance. It should be seen as an essential aspect of their business strategy, with dedicated teams responsible for its implementation. Let’s delve into key elements that can foster a culture of data governance.
Governance Team: Establish a dedicated team responsible for data governance, equipped with contemporary technologies. This team will play a pivotal role in driving data governance as a core agenda item throughout the organization.
Awareness and Responsibility: All employees who utilize data should be aware of their governance responsibilities. This includes understanding the importance of data governance in safeguarding the organization’s assets and reputation.
Hybrid/Federated Model: Implement a hybrid or federated model of data governance. Business units should have flexibility in managing their data, while a central governing body establishes and enforces standards. This model ensures agility without compromising control.
Chief Data Officer (CDO): Appoint a Chief Data Officer to formalize data governance as a top priority within the company culture. Having a singular point of responsibility ensures consistent adherence to governance principles.
Next-Gen Data Governance Tools: Invest in modern data governance tools that offer increased business support, robust reporting and auditing capabilities, user-friendly interfaces, social media integration, and built-in analytics capabilities.
Mobile Device Security: Implement checks within governance measures specifically designed for mobile devices. This helps track data movement from the enterprise to mobile devices, ensuring data security.
Integration of Governance and Data Quality: Combine governance with data quality measures to address security concerns associated with big data. This integration strengthens data governance by ensuring data accuracy and reliability.
Embracing Data as a Strategic Asset
The cultural shift toward data governance begins with recognizing data as a strategic and valuable asset. When governed effectively, data can profoundly impact business objectives. To thrive in the ever-evolving data landscape, organizations must view data as more than just information; it is the lifeblood that drives informed decision-making and fuels innovation.
In a post-Brexit world, data governance is no longer an optional consideration; it is a critical factor in an organization’s success. As trends shift toward a more balanced approach to data governance, organizations must foster a culture that values data as a strategic asset. By implementing dedicated teams, modern tools, and integrated governance practices, companies can ensure data security, regulatory compliance, and the ability to harness the power of data for informed decision-making. The statistics speak for themselves, underscoring the significance of effective data governance in today’s data-driven world.