Data done well
How to build on your data foundation and be a data-driven organisation
How data governance can help you safely realise the potential of your data
We all know data is ‘important’. We know it can improve the customer experience, increase operational efficiencies and create revenue opportunities. But how many of us are really making the most of our data? And are we really confident we are building trust by doing it safely?
This paper unpacks what it means to ‘do data well’. It looks at the evolving challenges businesses face around data and trust. It outlines the questions you need to ask yourself to make sure you’re getting the basics right. And it shows how leading companies are striking the right balance between data-driven value creation and data governance.
How leading organisations 'do data well'
In a world where organisations are only scratching the surface of what is possible with data, the ones that succeed will be those that strike the right balance between data-driven value creation and data governance.
As a starting point, make sure you are investing in all the capability areas that comprise a holistic model of data governance.
A holistic model of data governance includes six key capability areas:
Monetisation
Protect and enhance the commercial value of your organisation’s data asset.
Ethics
Define the risks and opportunities in the use of data (including ethical and value-based data uses) as part of organisational value creation.
Quality
Define and manage the quality, consistency, usability and availability of data at the enterprise level and across the data lifecycle.
Privacy
Define and manage the requirements to comply with legal obligations for privacy.
Protection
Define and manage data security, access and use rights and prevent data loss.
Compliance
Manage risk and monitor compliance with regulations, standards and procedures.
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