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Data Governance Policy consists of a document with a set of guidelines to ensure that an enterprise information and data assets are managed consistently. The Data Governance Policy contains the practices, principles and standards that the leaders of that particular Enterprise have determined to ensure that they protect and have high quality data.

The policy document clearly defines the structure of the Data Governance for the team of the enterprise that will help in their daily operations. One of the main purposes of the Data Governance Policy is that the management and data processing should ensure the enterprise data is consistent, accessible, accurate and protected.

Why do we need Data Governance Policy?

An Ideal Data Governance Policy includes building a process model for managing the enterprise data. For any successful Data Governance in any enterprise both IT and business departments should collaborate with equal responsibility and create value from the Data Assets and processes. Data Governance Policy brings benefits to an enterprise by

Defining and assessment

Strategizing and Planning

Designing & Implementation

Monitoring.

Data Governance Policy aims and  addresses the structure related to Data Governance, and also includes policies on Data integrity, Data access, Data usage and Data integration.

Why is Data Governance Policy Important ?

Data Governance Policies are guidelines that help your data and information assets be used  efficiently and properly. The guidelines include policies related to security, privacy, quality and access. Data Governance Policy also includes how data will be controlled and managed. Lets focus on common areas covered by Data Governance Policy

Data Availability – For a Successful Data Governance Policy, one has to ensure that Data is available and easy to consume by the Enterprises.

Data Quality – Data is consistent, correct which will not create any problem while usage and analysis.

Data Usability – Data is documented, structured, labeled which also helps in easy retrieval and search and it is very useful with the tools.

Data Integrity – One has to ensure Data should retain its innate quality even if it is a converted, transferred, stored and viewed across different platforms.

Data Security -To Define standard processes and prevent any data leakage and loss.

Data Governance policies are guidelines that help your data and assets be used efficiently and properly. The guidelines include policies related to security, privacy, quality and access.  Just like any other assets, Data is the utmost important asset in the era of Information Technology and it requires consistent and strong management. To avoid data quality issues such as conflicting information, lower quality data etc Data Governance Policy has to be implemented.

Quick Benefits of a Successful Data Governance Policy.

Collaboration

Appropriate usage of the Information

Helps to meet Regulatory Compliance

Sound Decision Making

With the increasingly diverse and volume of data, keeping a track of your data becomes vital to make informed decisions. Globally many enterprises collect, generate & process tons of data. Data Governance includes collaboration of people, technologies, process, and policies.

The Data Governance program of any enterprise is tailored based on their needs, requirements, and other factors. There are many representatives of Data Governance such as IT, legal and information departments etc. Every assigned Data Owner is too a member. They are accountable for some of the data within the enterprise.

Initially the requests for any new data are communicated to the team of Data Governance initially. Here in this Stage, the coordination between Data and company’s strategy is linked. The second stage includes the team discussing the need and reaching an agreement. In this Stage, the owner is assigned to the data who is accountable for it. Third stage includes an IT team implements the changes related to the system and maintains it by coordinating with the Data Owners. In the third stage data is accepted only when there is a purpose and there is also an agreement. Finally, the data is managed throughout the life cycle.

Benefits of opting Data Governance

The more the data, the greater the risk. The data you store, have chances of risk and this might be possible due to Data Leakage and Compliance Risk. Within the Data Governance Policy, the Data Owner has some responsibilities. While one is to represent the data to the team of Data Governance, the other is to collaborate with Legal, Information Technology, Information security and compliance to maintain and implement it.

The enterprise after having a complete idea for a process, comes to the Information Technology team to get it implemented. The technology implementations are taken care of by considering more security. Based on the maximum understanding of the Data, information security dictates policies.

Making Higher Return on your investment is well possible through an improved Data Governance Program such as cleaning poor-quality data, reconciling duplicate data and by lesser Data Duplication. Data Standardization ultimately contributes to discussions and decisions to happen. Data Governance helps in ensuring use of the data in each field and it reflects the purpose and process needs and is readily available for analysis, reporting and workflow activities.

Undoubtedly, Data Security is vital in Data Governance and is necessary for continued business innovation. Furthermore, Data Governance enables to bridge the gap between demand and data supply by keeping data compliant with relevant privacy laws.

Overcoming Compliance Risk

Technology Implementation

Data Standardization

Data Security

Amurta’s Data Insights Platform is a Data Governance Tool specially designed for enterprises with complex data pipelines. It simplifies the data of the enterprises by integrating and connecting all your Data Governance Applications such as Data Quality, Reference Data Management, Master Data Management and Data Privacy & Regulatory Compliance.