Oversight, insight and execution: Is your data governance strategy working?
Allocating IT budget is a tricky business. Companies need to make choices and manage the tradeoffs of investing in things like network reliability, data infrastructure, new applications or a variety of other options. However, recent Aberdeen research suggests that foundational activities to protect, oversee and manage the data environment through a unified approach to data governance can produce enticing results.
Typically, companies find that efficiencies in the capture, management and flow of information within an organization lead to demonstrable results. With a clean and consumable foundation of data and an empowered user base, the research demonstrates that leaders in data governance are able to expedite the flow of information across their organization and deliver critical information on time.
A next-generation governance environment that unifies process, people and technology helps set the stage for an elevated level of analytical activity. For leading companies, those activities translate to substantial ROI in the form of business growth and cost reduction, as you can see below in Figure 1.
Figure 1: Leaders convert data to results
Maintaining a high level of data accuracy and timeliness of delivery is not easy. The data needs to be clean and accessible, but it also needs to be “findable.” Leaders aren’t perfect in either regard, but they significantly outperform all other companies that suffer from one in four data records being inaccurate, and more than a third of their information delivered late.
On the other hand, with greater quality and accuracy of information, delivered within the necessary time frame, leaders can identify more business opportunities and position the company to drive down cost, improve profitability and exploit avenues for revenue growth as well.
Read the interactive e-book Results-Oriented Data Governance: Converting Data Problems into Business Opportunities to learn more.