xScion Blog

Data Governance to Maximize Value

Feb 27, 2019

Data Governance Value

The word “governance” comes with connotations of authority and control.  When thinking of data governance, organizations can be so focused on security and compliance that they fail to realize the value of their data.

 

Here’s a quick story - a corrupt bank official kept embezzled cash locked in an inner-room of his home to avoid having his crimes discovered.  When it was discovered after he passed away, much of the cash had been eaten by rodents. In keeping his (ill-gotten) assets secure, he was unable to utilize their value.  This is just one of the points made by Governance expert, Dick Wilson, in the xScion on-demand webinar, GoverNOTS: 7 Assumptions Not To Make About Data Governance

 

Data Crosses Boundaries

While it is important to keep data safe, it is also important that it is reliable and available across the organization.  Data crosses boundaries, so the question to ask of a data governance program isn’t just how to secure and maintain data, there also must be a focus on how to best use data throughout an organization to realize and create value.  Improvements in operations or in service and delivery to customers can often be found in your data.  If the data is not available across the organization, like the embezzler’s cash locked up in a room, the improvements may never be realized.

 

Get Value From Your Data, Beyond Just Safe-keeping and Storage:

  • Consider how resources are allocated between keeping data “safe” versus making it reliable and available.
  • Improve collaboration between business users of data and IT staff.
  • Combat territorialism and changing the culture from “my data” to “our data.”

Watch Now For First-Hand Lessons Learned

Your data is an asset throughout your organization. Improving collaboration across functions and increasing the organizational awareness of what data is available, what is needed, and how it is used will help you get the most out of your data.  Watch the webinar, GoverNOTS: 7 Assumptions Not To Make About Data Governance. It’s a great tool to reframe how you think about your data governance program and how you can get more out of it.

 

xScion’s Principal of Strategy Execution, Vikas Arya introduces seven incorrect assumptions that organizations often make about data governance, and Wilson shares his experiences and offers useful tips to help you get the most out of your data. Wilson draws on more than 20 years’ experience in financial sector technology and operations, working with large organizations in the US and China. Arya draws from more than 20 years’ experience in consulting and leadership. They have seen first-hand the challenges organizations face. The webinar is full of success stories, cautionary tales, and recommendations to help you create a culture and data governance program that works to maximize the value of your assets.

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