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Data Governance  Implementation & Optimization

Finding Your Goldilocks Zone - Not Too Much and Not Too Little

Establish or Reinvigorate Your Data Governance Practice

Operating even a modestly sized company without a data governance practice often results in poor data quality, compliance violations, security breaches, inefficient data management, and obscured insights. However, establishing a data governance practice is a complex process that requires careful planning and execution. Executive support is critical. Both business and technical leaders must align on many overlapping topics with naturally differing outlooks. Successful Data Governance brings these competing interests together to create a data culture of collaboration and joint success.

 

Setting up a program requires:

  • A Framework for working together; robust change management

  • A common dictionary of terms with consistent definitions

  • Financial support for business and technical activities

  • Regular executive review

  • Agreement on the outcomes of the program


The Process

Define the scope and objectives of the data governance practice: Before you can establish a data governance practice, you need to define its scope and objectives. This involves identifying the types of data that will be governed, the stakeholders who will be involved, and the goals that you want to achieve through data governance.

Develop a data governance framework: Once you have defined the scope and objectives of the data governance practice, you need to develop a data governance framework. This framework should include policies, procedures, and guidelines for managing data, as well as roles and responsibilities for different stakeholders.

Create a data governance team: A data governance team is responsible for overseeing the implementation of the data governance framework. This team should include representatives from different departments and business units, as well as IT experts and data stewards.

 

Identify and assess data risks: Data governance involves identifying and mitigating risks associated with data, such as data breaches, data quality issues, and regulatory compliance. You need to conduct a risk assessment to identify potential risks and develop strategies for mitigating them.

Define data standards and processes: Data governance involves defining standards and processes for managing data throughout its lifecycle. This includes defining data quality standards, data retention policies, data classification schemes, and data privacy policies.

Implement data governance tools and technologies: To effectively manage data, you need to implement data governance tools and technologies, such as data cataloging and metadata management tools, data lineage and tracking tools, and data quality and profiling tools. First CDO Partners does not sell software; however, we will assist in a software assessment process.

Train stakeholders: Finally, you need to train stakeholders on the data governance framework, policies, and procedures. This includes providing training on data management best practices, data security, and compliance with regulatory requirements.

 

By following this product outline with our guidance, you can establish a robust data governance practice that enables your organization to manage data effectively and mitigate data-related risks.

Outcomes

After completing this work you will have established a functioning data governance team with an understanding of the current maturity of the program and a roadmap for future growth.

  • A core council/committee will be in place with executive involvement and oversight

  • Data Owners, Data Stewards, Data Custodians, and Data Quality staff will be identified and given official accountability for certain tasks

  • Roles and responsibilities will be clearly documented and understood

  • Policies, Processes, and Desk procedures will be approved and in place

  • A common data glossary will be established

  • Key Data Elements will be documented

  • A Maturity Model with ongoing assessment capabilities will be in place

  • Data Quality metrics and measures will be established

  • Key Performance Indicators (KPIs) and Operational Key Results (OKRs) will be reported and monitored

  • Alignment with industry models and measures will be in place (First CDO Partners is a registered partner with the EDM Council)

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Develop Your
Data Strategy

Having a well-defined data strategy is crucial for unlocking data’s full potential and creating value. Without one, you are at risk of missing opportunities, spending inefficiently on data resources, lacking alignment in data collection and analysis across departments, and more. 

 

We’ll develop a data strategy that aligns with your goals and focuses on optimizing your data infrastructure, management, and utilization.

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Perform a
Data Gap Analysis

Migrating your existing data problems to the cloud will not make them vanish. Worse, it will hamper your ability to achieve the outcomes desired in making this move.

 

Our services include a comprehensive gap analysis of your data management practices (e.g., governance, quality, security, and more), pinpointing opportunities for improvement, and devising recommendations.

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