Why Data Management. Build A Prioritized Data Management Roadmap | In my recent white paper, “Holistic Data Governance: A Framework for Competitive Advantage”, I aspirationally state that data governance should be managed as a self-sustaining business function no different than Finance. With this in mind, last year I chased down Earl Fry, Informatica’s Chief Financial Officer, and asked him how his team helps our company prioritize investments and resources. Earl suggested I speak with the head of our enterprise risk management group … and I left inspired! I was shown a portfolio management-style approach to prioritizing risk management investment.
It used an easy to understand, business executive-friendly visualization “heat map” dashboard that aggregates and summarizes the multiple dimensions we use to model risk . I asked myself: if an extremely mature and universally relevant business function like Finance manages its business this way, can’t the emerging discipline of data governance learn from it?
Here’s what I’ve developed… Initiate-Data-Governance-Survey-Report.pdf. Stories vs. Statistics for BI - Information Management Blogs Article. Travel company bucks odds, touts success of data governance programme. Less than a quarter of surveyed organisations that have undertaken a data governance programme would describe it as “quite” or “highly” successful, with the rest really not very happy with the results at all. In fact, according to a survey undertaken last year among 134 mainly US and European companies by analyst firm The Information Difference, a worrying 16% of the respondents felt that their efforts were downright “unsuccessful” compared with a tiny 2% that believed them a complete triumph. The rest of the respondents placed themselves somewhere in the middle. And when the mean one-off price tag of such enterprise-wide programmes is $3.5 million, plus an additional $1.2 million in annual maintenance costs, such findings are scarcely a ringing endorsement or evidence of money well spent.
So what has been going wrong for many organisations? A clear business case or written mission statement. A clear process for resolving interdepartmental disputes about data. Email Alerts. Demonstrating Value. Guidance by GwenDemonstrating Value Everything an organization does should tie to one of three universal value drivers Increase revenue and valueManage cost and complexitySupport Risk Management and Compliance efforts, and increase confidence.Data Governance efforts MUST tie back to one or more of these drivers. And YOU must communicate how it does. Here are some of the ways a Data Governance effort can benefit you : Increase revenue / value of assets.
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