Data is becoming an important and valuable business asset. Today’s organizations are using data in nearly every stage and department of their business, but many have yet to benefit from its full potential. For organizations to be truly data-driven, they need to comfortably and quickly identify, understand, and have confidence in their data for greater business insight and analytics and have this capability via any system across the enterprise.
Data governance helps us find the data. Nearly every business person has run into the issue where they cannot find the data they need to do their job. Even if they do find “data,” it’s often not the right data, nor data they can access. This creates frustration because they need that data to do their job. Data governance helps find the data they need to do their jobs.
Data governance helps us understand the data. It is crucial not only to find the data but to understand it. Data could mean different to different parts of the business. So without data governance, those meanings live in the heads of many people across the organization. Figuring out which person has the definition we need is nearly impossible, especially in large, complex companies. Data governance, on the other hand, enables us to understand what the data means from its definition and meaning, to its origin, to who can access it and who cannot access.
Data governance helps us trust the data. When we are confident that the data is right, that’s when great things happen. This confidence empowers everyone across the company to use data to spark innovation, gain competitive edge, and drive operational efficiencies. In other words, business transforms to become truly data-driven.
Collibra is purpose-built to provide a framework that improves our ability to manage, access, and use high-quality data while allowing us to continue to create and maintain that quality over time.Collibra functionality delivers the following benefits
Strong “data taxonomy”
Big data analytics enablement
Deeper data understanding and linkages
Support of regulatory efforts
Faster resolution of data-related issues
The critical need for information governance compliance is driving the growth in the market for information stewardship solutions to support this effort.For the third consecutive year, Collibra has been recognized in Gartner Market Guide for Information Stewardship Applications.
General Data Protection Regulation (GDPR) is a directive in EU law on data protection and privacy for all companies within the EU. It is proposed to provide regulations to businesses for safeguarding customer data and give extra protection to consumers when it comes to recognizing information. The export of personal data outside the European Union is addressed. The GDPR predominantly aims to authorize citizens and residents over their personal data.
As mentioned above, Collibra supports regulatory efforts. Collibra’s data governance is business focused and facilitates easy adoption and collaboration. It offers a consolidated inventory of personal data items across the business and technical data landscape. When mapping out our data processes in Collibra, we can include the capturing of Privacy Notices, when they are sent, to what categories of customers, and any relevant consent applicable. Collibra gives us the capability to track enforcement and compliance across the organization, to document and link business rules to policies and data quality rules, to hold evidence of local compliance and provide an audit trail.
We have an experienced Data Governance Experts team to help you manage data and improve governance.
For further details, please visit: Data Governance Services