EileenLiles

Data-driven strategies are essential for businesses to succeed in this competitive digitalization era. Business goals like profitability, revenue growth, and customer satisfaction need support from data to make core decisions. The Decision-making process based on data is the core for digital transformation initiatives. Nevertheless, the data necessary to fuel the digital transformation businesses need to be speedy and accurate.

The solution to offer quality data in real-time

The traditional data sources businesses worked with are not sufficient in this digital era because new sources of data are flowing from sensors, social networks, IoT, weblogs, digital apps, clickstreams, etc.

The traditional source is controlled by IT but new data sprawl is creating a quandary. Besides, data needs real-time ingestion and analysis in speed rather than responding to a couple of days old data. Today the data integration economics is broken because of the gap between IT and businesses associated with data ownership. IT cannot fulfill business expectations and this gap is widening due to data sprawl realities.

Fortunately, businesses can make their data reliable and organized to deliver it to everyone that needs it. There is a need for a solid data governance strategy, so you can take help from professionals. EWsolutions is a reliable data governance consultant service you can approach for strategizing an effective data governance strategy. DG is not an option in this digitalization era but a necessity for every business.

Benefits of Data Governance

• Creates a plan that guarantees data consistency, completeness, and accuracy.

• Understanding the data location of critical entities is essential for data integration.

• Data assets become practical and connect with business goals easily.

• Defines common data terminology for better understanding across the enterprise.

• Offers a comprehensive view of every associated customer and business entity.

• Helps in consistently adhering to Government regulations like CCPA, GDPR, PCI DSS, and HIPAA.

• It combines highly automation and human dimension in this data-driven landscape.

• Establishes data management best practices and codes of conduct

• Consistently addresses areas beyond technology and data like compliance, legal, and security.

The data governance framework makes sure that the data is credible, organized, and easy to access across the business. It even ensures that data is kept confidential, secure, and compliant.

In the past, access to data was controlled tightly but in this digitalization phase, multiple employees across the organization demand instant access to trusted data from each source. However, if raw data is ingested as it comes then the amount of data flowing can cause havoc.

For example, Facebook offered a platform to users without any data governance framework. Soon, it realized that the platform was used maliciously because anyone could enter data of any kind without control. With the new data privacy act, Facebook is finding it extremely hard to establish control of the kind of data posted on its platform.

It is under inspection by the regulators, government, and even users. The moral of the story is to succeed in this digitalization phase solid data governance framework is a must. Don’t overlook it because you may be unable to control it!