Every group or department in your organization is going to need their own view of your data. For example, if they are looking at year-end sales, the focus will be on all the business your sales team closed in the previous year. The group controller is going to have different line-of-business needs, however, and will be looking at all closed business that has been booked to the ledger. A company CEO will get a different answer to a query involving those year-end sales figures depending upon who he or she is asking. Establishing a common set of data parameters that your whole organization follows will not be simple, for these very reasons, but consistent data governance will have a huge beneficial aspect to your organization.
Managed control over your data availability leads to consistency in its governance, which is crucial to its usability, integrity, and security, supporting the growth and flexibility of your enterprise.
- Establishing a governing body or council with a defined set of mandates, goals, and processes will help to ensure that consistency is maintained.
- Automating your processes and enforcing the procedures that have been established will support consistency.
- Consistency in the data shared across departments, such as customer or part numbers, or vendor and employee IDs, will remove duplicates and standardize the data, reducing the amount of incorrect data entering your core enterprise systems. This will also greatly lessen the amount of chaos and confusion that can come from inconsistent data and information shared within a company.
Consistent data governance will allow your departmental management to make informed operational decisions, while strategic decisions that are made by the corporate management will be based on information that can be trusted as being a clear and correct snapshot of the operation. One version of the truth will benefit your entire enterprise.
A few of the benefits of consistent data governance will be:
- Less time spent on report reconciliation and inconsistent performance results.
- Less data entry errors due to data being manually entered into multiple systems
- A consistent set of definitions for key performance indicators across your enterprise
- Data being distributed across your organization consistently
- Better management of key corporate master data, such as adds/deletes/changes
- Eradication of bottlenecks in your change management process that can delay the approval of adds/deletes/changes
Here at Think Data Insights, we are committed to turning your data into business insights.