Tips To Build A Solid Data Governance Plan
Data drives the majority of business-critical decisions like communication campaigns, promotional timing, or audience segmentation, and more. For performing such actions, there is a need to have total confidence in data quality. The use of sub-par quality data can have negative effects on a data-driven organization. It includes –
- Decrease in decision quality
- Loss of business opportunities and revenue
- Compromise of other data activities [CDP, CRM, etc.]
- Collapse of ROI
- Lack of credibility and internal confidence
Data can be modified through regular monitoring to avoid risk factors because of –
- Incorrect or missing tags
- Partial sampling methods
- Bots identified overestimated traffic
- Blocked traffic [adblockers]
- Poor source attribution
It is essential to be vigilant in every data life cycle phase – starting from data collection. Every website modification or inevitably tracking increases the potential of damaging data collection quality. Therefore choose effective tools and methodologies to ensemble and document every process. Proper implementation of regulatory data compliance is also crucial or you may have to pay heavy administrative penalties or experience extreme constraints on the usage of your data asset. Non-compliance reduces customer trust and brand integrity.
It is wise to look for a data governance consultant. The experts from EWSolutions have been helping businesses to diagnose their data issues and draft customized business-driven solutions. Data governance is a lengthy and complex process, so ensure to choose an experienced professional with data strategy knowledge.
Tips to build a solid data governance plan
Determine the data assets
Determine the kind of data to collect, store and use because it is in abundance and can be lost with ease. Choose high-performance automating tools and carry out data analysis to diagnose accuracy. The data to be used has to align with marketing goals as well as offer value.
Involve the entire enterprise
Every employee and department needs to understand the benefits, drawbacks, and challenges of shared and quality data. For smooth transition conduct group or individual interviews, hold a practical workshop, and use real case analysis associated with recurring business issues. The aim is to generate employee interest and response before implementing the data governance process.
Allocate roles and responsibilities
Data governance programs need to be supported and implemented across every business department as each is responsible for data lapse.
- Chief Data Officer will be liable for approving, prioritizing, budget management, staff procuration, and documentation.
- Data Owners will oversee data in a specific department. They determine specific data usage for resolving a particular issue.
- Data stewards are centralized repositories that ensure data organizing and managing according to regulatory compliance.
- Data custodians are technical personnel that ensure authorizing and technically controlling data access.
Besides these primary responsibilities there are secondary roles like marketing managers, data analysts, community managers, UX designers, product owners, and traffic managers that consume, use, and analyze data every day. The DPO or data protection officer is also liable for internal control and guidance of data governance programs as they ensure strict compliance with data security regulations.
Remove internal silos
Place data as a core activity to resolve business issues and other critical decisions. Making employees aware of the sharing of data and cooperation benefits will help to eliminate the internal silos and offer them a common goal to work in tandem.