The role of data governance cannot be understated in every business. Data is at the center of every organization. The data tells you and other stakeholders your performance, areas for improvement, and your overall story.
While data governance may look a bit different at each organization, policies and data standards will vary, for each business to unlock the full potential of its data, a robust data governance strategy is essential.
Components of Good Data Governance
As stated above, data governance looks a bit different for each organization. Still, some key components should be addressed through your data governance strategy:
- Data Architecture
“Describes the conceptual, logical, and physical data assets and how they are stored and managed throughout their lifecycle.“ - Data Quality
“How well a dataset meets criteria for accuracy, completeness, validity, consistency, uniqueness, timeliness, and fitness for purpose.“ - Data Management
“The practice of ingesting, processing, securing and storing an organization’s data, where it is then utilized for strategic decision-making to improve business outcomes.” - Data Security
“The practice of protecting digital information from unauthorized access, corruption or theft throughout its entire lifecycle.” - Data Compliance
“The act of handling and managing personal and sensitive data in a way that adheres to regulatory requirements, industry standards, and internal policies involving data security and privacy.”
When all components are thought out and policies are built with each in mind organizations can successfully benefit from good data governance. It is important to note that like most aspects of a business, your data governance strategy should not remain stagnant. Through the adoption of new technologies, changing data standards, and data challenges your internal policies should evolve and adapt over time.
Sustainability Data Governance
As the business world has evolved, so has the amount and use of data for business decisions, especially with the integration of sustainability into business strategies and the evolving requirements of ESG reporting.
Sustainability and ESG are extremely data-intensive and driven. This means your organization will be collecting, transforming, and sharing more data. Ensuring you have a good data governance strategy and that your employees and the technology you use abide by it is crucial. As more data becomes available and is used, organizations must find ways to tackle the growing volumes of data.
On top of internal strategy regarding sustainability, companies are dealing with more requirements and regulations than at any other time. Stakeholder requests, consumer demands, investor and industry needs, and new legislation. Data is at the center of it all, being the only way to communicate what is going on accurately.
Our Platform – Enabling Your Strategy
At ScriptString we pride ourselves on being the data experts. With a plethora of experience in data management and transformation, we understand data governance and how important it is to every organization’s well-being.
- Data Architecture
We do not store your data – your data can live in various locations of your choosing if needed for adherence to various global data standards. We take your data architecture seriously and work with you to adhere to your policies and procedures. - Data Quality
Our AI-driven quality checks, anomaly and duplicate detection, and notifications on any variance give you peace of mind and ensure you are only working with the highest quality data. - Data Management
We automate the whole data management process, saving you time and money through streamlining your current processes. - Data Security
ScriptString.AI complies with globally recognized security protocols, keeping your data safe and private 24/7. - Data Compliance
Our platform aids you in compliance with a built-in audit trail, reports with records of activities, calculations, and drill-down capabilities.
Overall, our configurable platform is built to aid you in enhancing your data processes. Let’s chat about how ScriptString.AI can enable your data governance strategy today.
