May 20, 2022

Importance of data governance

Introduction

Data is the lifeblood of data-driven businesses. Valuable data continually flows between systems in and across cloud-based organizations which makes it vulnerable to cyberattacks. On the other side, to comply with ever-increasing regulations, many organizations choose to transfer data to different systems which poses new security risks. Therefore, an effective data governance program is must to manage data in place and preserve its integrity unfailingly.

Further in this blog, we will try to understand what data governance is, why to actively consider data governance and how to overcome governance challenges briefly. Let’s start –

Defining data governance

Data governance is defined as a set of processes that standardize, integrate, protect, and store enterprise data. It reduces data security risks and maintains the quality of data for critical business processes, insights and decision making. It establishes internal protocols for data use, and increases data value while ensuring security and compliance.

Benefits of data governance

Organizations that deal with sensitive data need accurate and structured data for higher operational efficiencies. On the other side, dirty data creates errors in database with repeated records and inconsistent definitions. Due to inaccuracy, it negatively affects the bottom line of the company directly. Hence, dirty data is neither eligible for analytics nor for making well informed business decisions.

Data governance keeps data clean and brings value to all users across the organization in following ways –

  1. Data governance provides framework for effective collaboration by eliminating confusions and clarifying roles.
  2. Data governance enables efficient organization, monitoring, and evaluation of meaningful data.
  3. Data governance makes data consistent, accurate and complete.
  4. Data governance enables users to find the location of data in different entities.
  5. Data governance builds trust on data and promotes better control and access to valuable data.
  6. Data governance ensures your metrics are accurate and insights are actionable.
  7. Data governance ensures a compliant environment of information security where individual’s personal data is kept private under regulatory laws (example, GDPR).

What should your organization do?

Data governance is crucial for forward thinking organizations to gain competitive advantage. If you are ready to consider data governance, ensure that you develop an operating model outlining workflows, permissions, and processes. Also, effective collaboration is vital for data governance and management requirements. Hence, using a right collaboration tool that strengthens communications, empowers teams, and evolves with market landscape is pivotal.

Your correct approach would be to search a scalable solution that can be quickly augmented with your current organization’s environment. It is advisable to invest in technology that is modern and automates data processes.

Simplifying data governance and management using TeamsHub.io

TeamsHub.io is an automated and unified governance tool built on top of MS Teams to streamline business processes and strengthen M365 security for user’s ultimate experience. With TeamsHub.io allows you to classify, retain, review, dispose, and manage content without compromising productivity or data security. Also, leveraging automation, TeamsHub.io helps you to identify and classify regulatory, legal, and business critical records at scale.

Designed with robust governance capabilities, TeamsHub.io improves the quality of your Microsoft Teams data and ensures that it remains fully protected no matter where it travels. TeamsHub.io uses best in-class security features to constantly monitor your data in the cloud minimizing risks against data breaches.

If you wan to learn more about TeamsHub.io, please visit https://teamshub.io or contact sales@cyclotrongroup.com to request a demo

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