The continuous push and pull of new regulations, projects and analytics investments create constant disruption for organizations. The volume of data created and managed is overwhelming. To address this, it feels like a refresher on data governance 101 is in order.
Data governance refers to the set of laws, policies, regulations, authorities and decision-making structures that guide how enterprises collect, share and use data to inform decisions. Failure to strengthen balanced data governance not only leads to harms and infringement of rights, but curtails innovation, restricts economic transformation and undermines using data to its greatest potential with the highest rewards and lowest risks.
Effective data governance grows out of data management maturity. It is why organizations are hiring chief data officers and activating strategic and unified data, analytics and data governance competency centers.
Data is becoming the core corporate asset that will determine the success of your business. Digital transformation is on the agenda everywhere. You can only exploit your data assets and do a successful digital transformation if you are able to govern your data.
Although digital transformation will vary widely based on organization’s specific challenges and demands, there are a few constants and common themes among existing case studies and published frameworks that all business and technology leaders should consider as they embark on digital transformation. Among those are a comprehensive data governance strategy.
Data governance policies and procedures are designed to create consistency and quality in the data you create, manage and store so at the end of the cycle, findability is simple and effective. All this requires strategy, and a good taxonomy to index the data.
Data Harmony is Access Innovations’ artificial intelligence suite of tools that leverage explainable AI for efficient, innovative and precise semantic discovery of new and emerging concepts to help find the information you need when you need it.
Whether you need to upgrade your existing taxonomy or create one from scratch, we work with you on a taxonomy and thesaurus that meet your needs. We classify your data within the context of your particular industry and unique data situation, so that the enriched content can be used for analysis and a deeper understanding of your knowledge base.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.