Data Governance

Foundations for the success of companies

In the world of digital transformation, implementing an effective data strategy and data governance is critical to the success of a business. With the explosion of data through digital media, IT systems and analysis techniques, it is clear that there will never be as much data as there is today. In this context, data strategy plays a central role by serving as a guardrail and enabling organizations to make data-based decisions that drive the business forward.

Harnessing data covers various dimensions: from supporting data-driven decisions, processes and services to developing new products and business models that ensure future viability and sustainability. Modern data management and a well thought-out data strategy form the basis for an innovative, data-driven company.

Data governance plays a crucial role

Data governance supports and operationalizes data strategy. It defines responsibilities, creates a standardized vocabulary and ensures data protection and data quality. This forms the basis for trust and comprehensibility in relation to data throughout the company. By clarifying ownership and responsibilities and enabling harmonization across all areas, data governance makes a significant contribution to the implementation of the data strategy.

The data governance framework addresses the action dimensions of the data strategy and encompasses both strategic alignment and operational implementation. The four central dimensions are crucial here.

Data literacy as a key factor

Particular attention is paid to data literacy within the organization. Empowering the organization through data literacy, i.e. awareness, qualification and communication around data, is essential for the use and understanding of data. In addition, the creation of a transparent data landscape, the provision of data as a service and the continuous improvement of data quality are central components of the data strategy.

In order to navigate successfully as a company in today's data-driven world, these topics must be properly coordinated and in harmony with each other. Frequently asked questions related to data governance can be as follows:

• How do I get transparency about my data and where is it located in the first place?
• How do I create communication and collaboration across data domains to further improve and share data?
• What factors influence my data quality and how can I improve it?