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Volume 31, Issue 2

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Friday, 08 June 2018 15:06

Best Of Both Worlds: Open Data Access And Governed Control

It’s Time to Take Data to the Next Level

The self-service technology culture allows each business user to access data for analytical purposes. Yet it has created an abundance of rogue data sets across enterprises that may contain outdated or inaccurate information and that fall outside of organization’s data governance structure. With the introduction of the right data intelligence strategy and stewardship, enterprises can improve data quality, build trust and enable collaboration that will impact the bottom-line.

Data is the lifeblood of an organization. It is at the heart of executive decision-making, risk evaluations, customer engagement, regulatory requirements and efficient operations. Yet, not all data used for these business decisions and reporting is made equal.

According to a recent TDWI survey report, “Reducing Inefficiency and Increasing the Value of Analytics and Business Intelligence,” only 11 percent of respondents said they were very satisfied with their companies’ investments in data and analytics projects to meet strategic goals for enabling data-driven decision-making or actionable customer intelligence.

The problem is that the self-service culture has created an abundance of rogue data sets and proliferated data across the enterprise where governance officers and IT professionals have no control over who is using the data and how they’re using it. Business users may be using outdated or inaccurate data for their analysis.

And there is no way to reel back data access as these same self-service analytical, visualization and data preparation applications allow enterprises to be nimble and use data for finding meaningful business insights. The trick is finding the balance between open data access and internal data control: Effective governance and data quality improvement only come when the right data intelligence strategy and stewardship is in place.

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http://www.corporatecomplianceinsights.com/best-worlds-open-data-access-governed-control/