High quality data is needed to capture the full potential of the enterprise and deliver all the benefits of ERP systems, customer relationship management (CRM) and business intelligence (BI) initiatives, compliance and data warehousing solutions.
Conversely, low quality data causes transactions, processes and projects to fail, leading to increased costs, additional risks, reduced confidence in enterprise data and potential business loss.
Data governance is a process focused on managing the quality, consistency, usability, security and availability of information. Data Governance incorporates the guiding principles, decision-making concerns and oversight procedures to ensure ongoing relevance and accuracy of a company’s BI solutions.
The objectives of Data Governance are:
- Program planning, prioritization and funding processes.
- Architecture Stewardship to support architectural policies and standards.
- Data Stewardship to ensure quality, consistency and integration.
- Business Change Management.