The problem of data management is one of those unforeseen issues that plagues many entrepreneurs in 2022, especially when it comes to Digital Transformation. In order to cope with the amount of information that needs to be managed, in fact, we often end up hiring a lot of staff who, however, can’t keep up.
It’s no coincidence that the best companies in the world spend over $13 million a year and still get unsatisfactory results. But what is Data Governance? Let’s see it now
What is Data Governance
Data Governance refers to data management, a concept born more than 30 years ago in LA and now widespread worldwide. Data, according to this modern concept, can be managed as a real asset for the company, in order to make profit rather than loss.
All assets need to be managed sparingly, and they need to be kept efficient so as to optimize work time. There are a number of strategies for improving Data Governance by creating appropriate organizational structures.
First of all, every piece of data must have a meaning, and it must be managed globally, not just by a dedicated information management office. If all employees know the data and the goals, everyone can work to optimize performance.
In addition, it’s good to find a line of management for the data you already have, even before looking for new strategies for processing new information.
Data Governance benefits
While many individuals or small business owners may see Data Governance as a sort of added expense, these conceal plenty of benefits inside. Obviously, it all varies based on the nature of your business, but primarily you can:
- Increase company productivity and revenue by focusing on customer orientation and personalization of user experience
- Build trust with your target audience, as well as trust between CEO and employees, as this will inform everyone about the quality and quantity of your data
- Resell the data obtained. Some companies, for example, sell data on where their traffic comes from
Add to that the increased ease of organization. Just think of an IT office that has to deal with lots of data which are not well-organized. In this way, IT itself will be able to get more accurate results and disseminate them with greater clarity.
Increase data Governance in a few steps
To increase the efficiency of your Data Governance, just ask yourself 5 basic questions:
- What exactly does the company need?
- Do you have a business case to study?
- Do you have employees who can work in teams?
- Is there a business glossary to organize the data?
- Is it possible to monitor and measure the amount of information obtained?
Once you have these 5 aspects in mind, improving your Data Governance will be a piece of cake.
We have seen how having good data management can easily increase the potential of a company, business or any type of project.
It is not efficient to have information that is not well organized, as you end up wasting twice as much time performing certain tasks.
Once you understand Data Governance, you can study an SEO strategy or a localization strategy to scale your business online.