asset for any organization. Therefore, ensuring good data governance practices is essential to comply with market standards, norms and practices.
Follow the reading to learn what data governance is, its importance in modern companies, main components, compliance factors and regulations, as well as good practices to implement in companies.
What is data governance?
Data governance is a set of standards, structures and practices to ensure the effective management, security and privacy of data throughout the lifecycle of these assets within a company. To this end, policies, responsibilities and procedures are defined to ensure their accuracy, consistency, availability and protection.
Additionally, data governance helps ensure that data-driven how famous is botim of worldwide companies comply with official data management and privacy regulations and standards, such as LGPD or GDPR.
How important is data governance?
Adopting data governance practices is essential to increase their potential in organizations, making them valuable assets for companies. Furthermore, it is an important step in the data management process , ensuring the high quality of these assets and compliance with standards and regulations.
Thus, data governance not only expands the potential of data, but also helps to reduce financial and legal risks, loss of information and losses in various business sectors.
Data governance offers advantages such as:
greater reliability and data quality;
optimization of strategic business decision-making;
risk mitigation;
regulatory compliance;
increase in operational efficiency;
promoting innovation, etc.
Key components of data governance
Implementing data governance in a company involves considering a series of components to make this process more effective and valuable.
Some fundamental elements for effective data governance are:
policies and procedures;
structures and roles;
tools and technologies;
data governance frameworks.
Find out the details below.
Policies and procedures
Data governance requires the creation of policies and procedures with guidelines and rules on the effective management of the business's data assets.
For example, through them, it is possible to:
define how, by whom and under what circumstances the data will be accessed;
create guidelines for the collection, processing, storage, use and disposal of data;
ensure compliance with regulatory standards and good market practices;
think of actions to ensure data consistency and quality.
Thus, it is an essential component for the effective functioning of data governance and management in the organization.
Structures and roles
Applying governance also involves defining organizational governance structures, with well-established roles and responsibilities so that actions and initiatives are effective.
A very common structure that works within organizations has figures such as:
Data stewards : responsible for data integrity and quality, ensuring that governance guidelines and policies are applied efficiently;
Data owners : responsible for data assets at a more strategic level. They make decisions and ensure that data is aligned with business objectives;
Data governance committee : formed by stakeholders, data owners, data stewards, among other professionals, they are responsible for making decisions about the data governance strategy as a whole.
Tools and technologies
Available tools and technologies also support your data governance strategy. Using them helps you optimize data quality, maintain data consistency, and ensure regulatory compliance .
These capabilities range from technologies to catalog data, maintain asset quality, and manage metadata, to data security and privacy tools.
There are several technologies available to meet different types of data governance demands, such as:
Microsoft Purview;
Collibra Data Governance Center;
Ataccama;
IBM Guardium;
OneTrust etc.
Data Governance Frameworks
Frameworks are essential in a data governance strategy, as they help facilitate the implementation of data governance by providing structures with guidelines and good governance practices.
They help with one of the biggest challenges for companies that are undergoing digital transformation, supporting improvements in their data management practices and compliance with regulatory standards for effective governance.
Some of the most common data governance frameworks are DAMA-DMBOK and COBIT. Check out the details.
DAMA-DMBOK
The Data Management Body of Knowledge (DMBOK) is a framework created by the Data Management Association (DAMA) that has comprehensive guidelines on data management.
The DMBOK has a clear structure with policies and procedures and is based on 10 knowledge areas, including data governance. It is widely used, mainly because it covers all areas of data management, is highly adaptable to different companies and industries and is easy to implement.
COBIT
COBIT is another widely used framework, but it focuses on the management and alignment of the IT sector with business objectives and governance practices.
The model was created by ISACA, has a process-based structure and has 40 management objectives, which include everything from governance and risk management to information security and strategic alignment, among others.
Compliance and regulations in data governance
One of the challenges faced by organizations undergoing digital transformation is regulatory compliance. In this sense, data governance is an aspect of data management that is closely related to compliance and plays an essential role in complying with laws and regulatory standards.
An essential part of governance work is to ensure that the company implements controls to comply with data protection and privacy regulations , such as the LGDP (General Data Protection Law) in Brazil and the GRDP (General Data Protection Regulation) in Europe.
Thus, an effective governance strategy provides the necessary structure to manage and maintain data quality, control and monitor these assets, and ensure the protection and privacy of information in accordance with compliance laws and regulations.
This is done by implementing privacy and data protection policies in the company, continuously monitoring compliance with legal requirements and training professionals to meet possible changes in standards and regulations.
4 good data governance practices
It is essential to adopt some good practices to create an assertive and effective governance strategy. Check it out!
Establish clear governance policies
As seen, policies and procedures are an essential component of a governance strategy. Therefore, establishing these guidelines clearly is essential.
This process involves considering all the elements necessary for good governance, such as effective data management throughout its lifecycle . In addition, it is necessary to communicate and involve all stakeholders in this process, in order to clarify any doubts and ensure strategic alignment.
Flexibility to changes in the area of data governance is also essential to ensure effective adaptation, if necessary.