Your passion is data and helping organizations enrich their business opportunities via data strategy, data governance, big Data and business intelligence, master data management, data architecture, and other data-centric initiatives.
Data being created by people, tools and machines requires new, innovative and scalable technology to collect, host and analytically process the vast amount of data gathered in order to derive real-time business insights that relate to consumers, risk, profit, performance, productivity management and enhanced shareholder value.
In addition, Master Data Governance involves processes, policies, standards, technologies, and people across the organization to ensure the availability of accurate, consistent and timely data for better decision making and improved business processes.
You will look at establishing the governance of procurement master data throughout its lifecycle. Over the last few decades, organizations have become increasingly aware of the need to leverage data assets to profit from market opportunities, as well as including widely adopted practices, methods and techniques, functions, roles, deliverables and metrics.
Investing in data quality improvement at the governance, process as well as technology levels will lead to identifying key business areas that are impacted by poor data quality and whose performance improvements are tied to high quality information. Master data management (MDM) software combines data governance with technological tools in an effort to ensure higher levels of data quality and data consistency throughout your organization. To begin with, understand what problems a Data Governance program is intended to solve and why the Business Users must own it.
Reference data refers to data that is used to categorize other data within enterprise applications and databases. Affiliated with that is reference data — the data about the types of transactions conducted with that business entity. Also, maintaining data quality requires going through the data periodically and scrubbing it.
Organizations that are dealing with data accessibility problems should create a user access rights policy. When that occurs, the data is primed for analysis, correlations, and patterns, all of which create a new environment of data-driven decision making. To What data governance does is the overall management of the usability, integrity, availability, and security of the data employed in your organization.
Information architecture is often recorded as a hierarchical list of content, search keywords, data types, and other concepts. Business users and IT can collaborate on data quality and governance projects using a business user-oriented, browser-based data cleansing tool that provides packaged cleansing rules, tagging, validation, and the power to test drive changes. This will simplify the exchange of information between systems, reducing cost and complexity for your enterprise.
Governance is a robust, customizable business information model, or workflow, where a set of validation rules provide just the right amount of control over the business process, publish content that follows brand guidelines and tone with robust governance that empower teams to work smarter. It also provides strategic data management direction to the Data Governance program based on knowledge of business strategy and business areas priorities.
Consumer-goods organizations tend to lack the strong data-governance processes to use, secure, and share data across your organization in compliance with privacy regulations. Experienced business and IT professionals know that optimizing use of big data as a resource will deliver real business value to your enterprise stakeholders.
Want to check how your Master Data Governance Processes are performing? You don’t know what you don’t know. Find out with our Master Data Governance Self Assessment Toolkit: