The importance of managing data throughout the entire lifecycle, from acquisition through use to disposal, enables companies to make informed decisions based on reliable and up-to-date data, which decreases risk and increases the likelihood of achieving success and meeting organizational goals.
From senior managers, who need accurate data to make strategic decisions, to marketing and sales professionals, who seek to understand the needs and behavior of customers, not to mention technology experts, who are key to the management and protection of data, Data Governance is presented as the way to manage information in all areas of the organization..
Data Governance has emerged as a fundamental element of business management in the information age. This strategy seeks to ensure the quality, security and availability of data, and its positive impact extends throughout the organization.
The following are the main advantages offered by Data Governance in the business context:
Informed Decision Making:
One of the most outstanding advantages of Data Governance is its ability to provide accurate and reliable information for decision making. Data is the backbone of business strategies, and having accurate information enables leaders to make informed, strategic decisions that are more accurate and data-driven.
Data quality and accuracy help reduce risk in decision making and ultimately improve business performance and competitiveness.
Cost Reduction:
Data is managed more efficiently. By eliminating obsolete or duplicate data due to information silos, storage and resources are optimized, resulting in a more efficient use of the company’s financial and technological resources.
Regulatory and Legal Compliance:
Regulatory and legal compliance is becoming increasingly complex. Data Governance ensures that the organization complies with laws and regulations related to privacy, data protection and security. Complying with these requirements not only avoids fines and penalties, but also protects the company’s reputation and customer confidence in the company.
Operational Efficiency:
By having organized, updated and available data, employees can access relevant information quickly and easily. This speeds up internal processes and reduces the time spent searching for data, allowing the organization to be more agile and responsive to market demands.
Product and Service Quality Improvement:
Data Governance drives the quality of products and services offered. Because it provides accurate and up-to-date data and can identify opportunities for improvement and focus areas for innovation. This leads to the creation of more relevant and satisfying products and services for customers.
Building Trust and Transparency:
Proper data management fosters trust both internally and externally. Employees trust data and data-driven decisions, which fosters a culture of transparency and collaboration. Externally, customers and partners also trust the company when they know that data is handled ethically and securely.
Risk Management:
Proper data management helps to identify and mitigate potential risks. By knowing the quality and reliability of data, the company can anticipate potential problems and take preventive measures to avoid them.
Data Governance offers significant advantages for all organizations, whether they are enterprises or public organizations, seeking to stand out in an increasingly information-centric world. From improving decision making and operational efficiency to fostering trust and transparency, this strategy becomes an essential pillar of business success.
”Implementing a solid and effective Data Governance system makes the most of the data resources and this allows to reach a strategic position to achieve the business objectives.”
From Luce IT we can help you with this information management with our data platform, a proprietary Luce solution that maintains centralized information to govern and exploit the data stored by organizations.
It is a modular and extensible platform that meets the needs of security, auditing, quality and integrity of information, as well as cost efficiency.
Do you want to hear a real customer case about the data platform??
The people in charge of Chafiras and DomusVI talk about their experience in this online interview recorded live.
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