The driving factors behind data governance adoption vary.
Whether implemented as preventative measures (risk management and regulation) or proactive endeavors (value creation and ROI), the benefits of a data governance initiative is becoming more apparent.
Historically most organizations have approached data governance in isolation and from the former category. But as data’s value to the enterprise has grown, so has the need for a holistic, collaborative means of discovering, understanding and governing data.
So with the impetus of the General Data Protection Regulation (GDPR) and the opportunities presented by data-driven transformation, many organizations are re-evaluating their data management and data governance practices.
With that in mind, we’ve compiled a list of the very best, best-practice blog posts from the erwin Experts in 2018.
Data governance’s importance has become more widely understood. But for a long time, the discipline was marred with a poor reputation owed to consistent false starts, dogged implementations and underwhelming ROI.
The evolution from Data Governance 1.0 to Data Governance 2.0 has helped shake past perceptions, introducing a collaborative approach. But to ensure the collaborative take on data governance is implemented properly, an organization must settle on a common definition.
GDPR went into effect for businesses trading with the European Union, including hefty fines for noncompliance with its data collection, storage and usage standards.
But it’s important for organizations to understand that the benefits of data governance extend beyond just GDPR or compliance with any other internal or external regulations.
GDPR had organizations scrambling to implement data governance initiatives by the effective date, but many still lag behind.
Enforcement and fines will increase in 2019, so an understanding of the five pillars of data governance readiness are essential: initiative sponsorship, organizational support, allocation of team resources, enterprise data management methodology and delivery capability.
Data Governance and GDPR: How the Most Comprehensive Data Regulation in the World Will Affect Your Business
Speaking of GDPR enforcement, this post breaks down how the regulation affects business.
From rules regarding active consent, data processing and the tricky “right to be forgotten” to required procedures for notifying afflicted parties of a data breach and documenting compliance, GDPR introduces a lot of complexity.
An erwin-UBM study conducted in late 2017 sought to determine the biggest drivers for data governance.
In addition to compliance, top drivers turned out to be improving customer satisfaction, reputation management, analytics and Big Data.
Organizations operating within the financial services industry were arguably the most prepared for GDPR, given its history. However, the huge Equifax data breach was a stark reminder that organizations still have work to do.
As well as an analysis of data governance for regulatory compliance in financial services, this article examines the value data governance can bring to these organizations – up to $30 billion could be on the table.
For some organizations, the biggest hurdle in implementing a new data governance initiative or strengthening an existing one is support from business leaders. Its value can be hard to demonstrate to those who don’t work directly with data and metadata on a daily basis.
This article examines this data governance roadblock and others in addition to advice on how to overcome them.