Reasons to govern: Your organization searches for initiatives driving growth, transforming business, and gaining competitive edge. These examples may help justify your governance program.
Enhance Data Quality, Reliability, and Access
94% of surveyed CIOs believe poor data governance results in business loss: 3 out of 10 CIOs say data quality issues cause a loss of 50% or more of business value.
Reduce Costs and/or Improve Margins
Business friendly governance: 1. Increases Competitive Advantage 2. Improves Efficiency 3. Drives Faster Time To Market 4. Drives Cost Optimization
Optimize Business Process Agility
98% of CIOs surveyed expect their organization’s data volume to increase, nearly half say it will increase by at least 50%. Only 8% of organizations have some level of compliance policies enforced with data governance
Improve Compliance and Risk Management
43% of organizations use desktop or internally developed tools to track regulatory compliance. Improving data governance policies (external and internal) lowers risk and improves compliance.
Enhance Analytical Decision Making
Only 12% of enterprise data is used for decision-making. 80% of an analyst’s time is spent locating and preparing data
Data Lakes and Privacy
Several large corporations have built multi-petabyte data lakes that are not in production because Personal Information has not been scrubbed from the data before loading.
“Whenever knowledge technologies are applied to business problems, it’s tempting to attribute the benefit to the technology itself…. Certainly it requires an IT organization that knows the business and can work closely with key executives and knowledge-rich professionals. A ‘back room’ IT group could never successfully build a system of this type” – Tom Davenport