COPAS Education Day Intro to Data Governance Jennifer Major, CPA. May 6, 2014. Agenda. Data Governance Why Bother? Definition Related Terminology Data Governance Organization & Culture. Why Bother?.
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May 6, 2014
“Organizations that do not understand the overwhelming importance of managing data and information as tangible assets in the new economy will not survive.”
Tom Peters, 2001 (author of In Search of Excellence)
According to IDC:
In every minute of every day:
- 204 million email messages- 4 million Google searches- 72 hours of new YouTube videos- 2.46M bits of content shared on Facebook- More than 277,000 tweets- 216,000 Instagram posts
“Enterprises are finding new sources of data, new ways to analyze data, new ways to apply the analysis to the business, and new revenues for themselves as a result. They are using new approaches, moving from descriptive to predictive and prescriptive analytics and doing data analysis in real-time. They are also increasingly adopting self-service business intelligence and analytics, giving executives and frontline workers easy-to-use software tools for data discovery and timely decision-making.” (EMC, 2014)
Blosser, Data Governance at Chevron GOM: A Case Study, May 2013.
Business asset planning and optimization, which highlights more extensive use of data to plan and optimize the performance of business assets across the entire life cycle of that asset
Digital oil fields, which focuses on the exploding use of digital sensors in oil fields (and other plant and equipment), providing massive volumes of operational data that enable optimization in near real time
(Udeh, Big Data and the E&P organization, 03/13/2014)
Patterns & Trends
Document Business Processes
Identify Business Rules & Data Rules
Define ‘Acceptable’ Data
Data Life Cycle
Ladley, 2012, p.10
Single Source of the TRUTH!
According to DAMA, MDM is “Processes that ensure that reference data is kept up to date and coordinated across an enterprise. The organization, management, and distribution of corporately adjudicated data with widespread use in the organization” (Earley, 2011, p.163)
Master Data is common data about customers, suppliers, partners, products, materials, accounts and other critical “entities,”that is commonly stored and replicated across IT systems. Master Data is the high-value, core information used to support critical business processes across the enterprise. (IBM, 2014)
…To the Reactive Stage
…To the Proactive Stage
…To the Governed stage
Executive Steering: Plan & Guide
Advisory Council: Manage
Working Team: Day-to-day
Responsibility can be delegated – Accountability cannot!
Data Governance is ensuring our data is an asset that is properly managed so we can support effective and efficient operations and mitigate risk in order to reach our company goals.