Why Your Data Governance Strategy Is Not Working And Ways To Overcome The Challenges
Have you figured out ways to document data and use it efficiently for your business? If yes, you are on the right track. However, this is not where it ends.
Data governance is a vast field with numerous processes that could take a lot of time to master. Many businesses that delve into data governance fail miserably at first. There could be many reasons for this, and you must understand them if you want to tackle them effectively.
With the right set of tools, guidance, and planning, you can perfect your data governance strategy. If you have been blindly following a plan you found online or saw someone else follow, it’s time you made some changes.
Through this article, find out why your data governance strategy is not working, where it is lacking and what you can do to strengthen it.
Importance of a Data Governance Strategy
Simply put, data governance means managing the data generated by your company and streamlining it throughout the business efficiently. This data could be collected externally through sales, marketing ventures, etc., or developed internally.
The basic approach to data management has three fundamental pillars. Building your strategy around these three steps will give you a more holistic approach when managing your business data.
- Set rules for your team.
- Implement these rules diligently.
- Manage collected data through elaborate tools and practices.
Building around these three steps can help you reap the maximum benefits out of any data governance strategy.
A good data governance strategy can help you in several areas of your business. Some of these have been listed below.
- It enables you to save money by simplifying your business operations.
- Bad governance could have terrible downsides like sensitive data getting into the wrong hands.
- A good strategy gives clarity on business processes and helps streamline workflow.
Common Pitfalls of Data Governance Strategies
It can be challenging to get your data strategy right the very first time. However, if you avoid common mistakes and tackle a few challenges beforehand, you could see a positive change in your management. Some common pitfalls include:
- Analytics strategy inept
Businesses often fail to create data-oriented strategies. These strategies need to keep storage, management, and analytics in mind for optimal outputs because analyzing the collected data is just as important as managing it.
- Data blockage or silos breed misunderstanding
Silos island is created when an island of data inside the company cannot communicate with another outer island. This lack of communication or blockage between data islands makes misunderstandings in business processes. During such times, teams also have a tough time collaborating, thus reducing efficiency.
- Problems with execution
You may have a stellar strategy with detailed steps to follow for data governance. But, all of it will go in vain if teams are unable to execute and implement plans adequately. Thus, the execution of any business strategy must be robust.
- Shiny New Toy Syndrome
Shiny New Toy syndrome happens when developers have trouble sticking to their original plan and get distracted by new tools and software for data governance. Developers create reports based on the data collected using the latest tools, which can potentially confuse and even frustrate the end-user.
- Data inconsistencies
Miscommunication between employees from different teams is the single biggest reason why data governance strategies fail. One group may use their unique codes and methods that are alien to another team. This confusion slows down basic operations and creates inconsistencies in the company’s operations.
Tips to Strengthen Your Data Governance Strategy
Data governance strategies can be made better by taking a few fundamental steps in the right direction. Some of these include:
- Value your data: Data is a strategic aspect of any business. Use it wisely and implement a framework that allows you to leverage it to your benefit.
- Allot teams: Create teams that will run the program and manage the strategy for you. They must be equipped to look after its processes and ensure that you use the ideal technology for your business.
- Assign resources: Give your data governance program utmost attention. Assign funds and natural resources to the program so that it can run smoothly.
- Fix issues along the way: You do not need to uproot your complete governance system at the first sign of failure. Assess your situation and come up with solutions that can help you move forward.
- Prepare comprehensive repositories: The only way to learn as you go is by documenting your learnings. Repositories containing important information about your data governance strategy can be used as reference material in the future.
- Keep data stakeholders in the loop: Use data governance strategies to tell your stakeholders about your internal decisions and keep them in the loop.
Data governance can be managed as long as you are patient with your strategy. A few trial-and-errors will help you figure out the ideal plan. Once you’ve worked out the perfect data governance strategy for your company, stick to it.
Additionally, you can keep the common mistakes mentioned above in mind and avoid them in the future to achieve better outcomes.