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Data Governance has not lived up to its promise to deliver quality data
Steve Zagoudis Founder at Metagovernance Inc..
A company’s data warehouse should be “Fort Knox” dependable, but many are not to be trusted. Despite best-of-breed technologies and designs, they have not been able to solve the fundamental problems of data quality and lack of data availability. Manual data reconciliations, inconsistent business glossaries, conflicting system of record, and excessive use of spreadsheets are not uncommon. This severely limits the opportunity to leverage data resourcesand restricts the returns on capital invested in IT systems.
The old tried-and-true Data Governance solutions were not getting the job done. There had to be a better way. We named it Lean Governance. Taking cues from manufacturers, lean production forever changed how inventory was processed along an assembly line. This in turn led to a complete revamping of the control, quality, and measurement techniques across the factory floor.There had to be a complete rethink on what added value, and how to measure it. History proved that the companies that changed over to lean methods not only survived but manyexcelled.
MetaGovernance is a Lean GovernanceTM specialist. We design and implement Risk Management, Data Governance, and Information Governance solutions. Our small size allows us to find the problem and deliver results quickly – quality data that is controlled and managed by the right people and processes. All at a significant cost savings.
The early lean practitioners were experts at finding waste and production bottlenecks on the factory floor. We do the same in your data factory, looking to streamline current procedures andcontrols. Many governance programs fail to clarify “who exactly is responsible for what” inside the organization. This creates heightened risk for bad data. We provide a highly visible matrix for source, use and ownership of all critical data elements. With Lean Governance less is more. Less wasteandless risk. More value from your data assets, greater return on your technology investment, and more of your people focused on the core business.
Technology alone will not solve data quality problems. Software can be a valuable tool for process automation,but we see a rush to select a technology before clearly defining theproblem to be solved. Though well-intentioned, people can spend countless hours collecting technical metadata, lineage, and glossaries that at best produce siloed data stores. Nothing is connected. That’s a missed opportunity to harness the power of enterprise governance metadata to drive growth and profitability.
Our Lean Governance works with minimal capital investment. Our process begins by using our tools to do a quick proof of concept which also demonstrates the power of technology in effective governance. From there clients can choose to leverage oursoftware tools or work with their existing technology. Many are choosing our Managed Governance Servicesas a cost-effective way to quickly implement a Lean Governance program. In this case, clients provide their data. We provide governance counsel and expertise, along with the automated controls.
Many of our clients operate in highly regulated industries. They operate under the rigorous oversight from auditors and regulators. They are also responsible for stewarding corporate assets for the benefit of shareholders and other stakeholders. For the Chief Risk Officer and Chief Financial Officer, the goal is to prevent bad data from impacting their compliance record and corporate reputation. For the Chief Executive Officer and Chief Information, the goal is to prevent missing data andcorrective measures from impacting productivity. Lean Governance delivers on the promise of Data Governance to deliver quality data.
Contact us at metagovernance.com. Learn how you can unlock opportunities to maximize the value of your data.