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Enterprise Data Governance & Business Intelligence - A Perspective

In this era of big data, tremendous competition and the minimal margin for error, where decision making drives success, there is no denying the importance of BI and BI developers. Industry trends indicate there is a need for an Enterprise Wide Common Data Language and focus on Data Quality. Most surveys indicate that data quality is the primary reason for Data Governance initiatives. So why is it complex?

  • Data Governance is intended to enable business transformation
  • Data Governance framework is an additional intersect between IT and business


Enterprise Data Governance and Business Intelligence Trends Indicate Need for an Enterprise Wide Common Data Language. Some of the leading enterprises across industry verticals

  • Required a single golden source of truth for customers who have different party roles, varied role attributes across geographies and different lines of business to enable
    • aggregation of customers’ transaction value associated with services across all platforms
    • identification of new revenue opportunities

Other Enterprise Data Governance Industry Trends Indicate Focus on Data Quality.

  • Required setting data quality standards across multiple lines of business to achieve
    • data consistency, accuracy and clarity
    • collaborative Business Intelligence to support both internal and external reporting
  • Required data profiling processes to support a single system of records for customers to
    • develop a consolidated and standardized customer hierarchy across disparate systems resulting from multiple mergers and acquisitions
    • integrate & automate cross sell and upsell strategy formulation
  • Required enterprise data governance and strategy to manage data processing across disparate systems acquired through mergers and acquisitions to
    • address data quality issues and capture right data across critical and very highly data intensive systems
    • define data stewardship roles to address issues in production environment

Most surveys indicate that data quality is the primary reason for Data Governance initiatives. Key Benefits of Enterprise Data Governance:

  • Proactive data quality processes supported by tailored change management best practices
  • Standardized, consistent, 360° view of data across the enterprise to support effective and collaborative business intelligence
  • Progressive reduction in data asset management costs supported by eficient reuse of existing data infrastructure. This can be achieved through adoption of an enterprise wide standard data model for a specific business function that reduces data integration effort and the need to ‘manage’ associated data
  • Reduced business transformation risk due to conscious shift from silo’ed data management practices to a holistic enterprise wide information lifecycle management
  • Enables setting up objective benchmarks leading to higher standards in operational efficiencies

To conclude

  • Key challenges include limited or absence of an enterprise wide common data language and data quality standards
  • Enterprises anticipate benefits such as:
    • data standardization and consistency
    • lower data management costs
    • better ability to mitigate risk associated with business transformation
    • objective benchmark setting for higher efficiency
  • Enterprise data governance maturity is assessed based on
    • process standardization and measurement criteria definition
    • enterprise wide data integration infrastructure and ILM policies
    • controls for privacy, risk and compliance
    • rating of business confidence in data and continuous improvement programs
  • Enablers to support enterprises progress to next level of maturity curve:
    • integrated data integration and bi platforms
    • collaborative KPIs
    • data quality processes and initiatives
    • enterprise wide adoption of standards and initiatives to support information on demand

Therefore, high data quality standards are imperative for effective data governance in an organization.

 
 
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