Data Governance is a formal organization of people, process and technology, established to leverage data as an asset. Data governance is the business function that provides a strategic direction for data quality efforts, sets standards and processes, and ensures that information quality goals are achieved. Without an effective data governance function, product data quality efforts will not succeed.
Data governance is not just a collection of ad-hoc data quality projects, but the development and integration of a set of policies, guidelines, and standards for managing your corporation’s data. The data plan must include all the Company product data and the rules for management of data at the field level.
Metrics reporting systems need to be developed to assure that:
- Data is what it is supposed to be (Data Quality)
- Data is in the correct context (Data Integrity)
- Data and its associated metadata are accessible (Data Usability)
So why put a data governance plan together? Quality data is the foundation for all business initiatives. Without it your company will continue to experience the harmful effects that poor quality and unsynchronized data has in the ordering processes, logistics, inventory and analytics. Suppliers need to begin to manage data with the same attention to detail as they currently do with the production cycle of their manufacturing facilities — an organization with defined policies, procedures, and quality control measures. DATAgility can help develop and implement an effective data governance plan…. Don’t delay, call today.