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Learn why data governance is important to your company

Learn why data governance is important to your company

For a company to remain profitable, it needs to count on accurate analyzes about its current situation and position in the market. The application of the so-called data governance makes the access to this information easier, and by using it, strategic decisions can be made more quickly and assertively.

While managers and entrepreneurs recognize the importance of having accurate and relevant information available, they often don’t have the correct procedure to verify them, and thus, the data collected are not accurate.

Keep reading this post to learn more about this methodology and find out how it can help your company access and correctly analyze the information most relevant for your growth!

What is data governance?

The operation of companies and institutions generates a lot of information. By accurately analyzing each of them, the manager is able to know the actual situation of the company he manages.

He can then view both the best performing and the least performing sectors and, based on that data, take the necessary action.

Data governance consists of planning and applying a methodology to accurately and safely collect, analyze and share information within a company. With it, it is possible to ensure the accuracy of the data collected and that only authorized persons have access to them.

What are its advantages?

By putting it into practice, the manager has the benefit of quickly and accurately accessing information about the various sectors of the company he manages. That way, he can improve inefficient processes and plan strategies to improve performance.

Besides these benefits, we can also mention:

  • makes the process of strategic decision-making easier;
  • produces more efficient processes;
  • ensures the security of relevant data;
  • increases the transparency of information and makes the access to them easier for the various sectors of the company.

How to implement it?

Assign the person responsible

The first step is to define who will be the person responsible for monitoring the entire data collection and analysis process. The person chosen will be called the governor, and will be responsible for developing the council and the governance practices, as well as monitoring their performance.

Verify the current situation

Based on the data collected, it is possible to verify the actual situation in which the company is. This procedure is essential for planning the next measures.

Create and carry out the strategy

Once the council is established by the governor, they should meet and analyze the data collected. They need to plan the company’s policies regarding data collection, analysis and security for the long term.

In addition, the entire team needs to closely monitor the procedures in order to ensure they are being properly applied.

Ensure access to relevant information

The purpose of this methodology is to efficiently collect information on the company and make them available to assist in the decision-making process. Therefore, in addition to ensuring the veracity and security of the information, the system must allow it to reach the authorized persons quickly.

Using software specifically developed to this activity increases the speed with which the information is verified, guarantees its safety, and also makes its access and analysis by the management team easier.

Considering the increasingly competitive market, the use of data governance gives the management team access to a number of tools that allow them to manage the company in the most efficient way possible. Therefore, it is no exaggeration to assume that the procedure is essential for the performance of companies and institutions.

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