Entreprise Data Specialist David Hawker sat with us to talk about data management.
What is the biggest challenge that you see in data management today?
We see today that many organisations are still silo-ed, and therefore not sharing data across departments. This process causes several variations of the same data with no clear data ownership to create clean and governed datasets.
How do you estimate the industry readiness in terms of responding to the data challenge?
Assessing across some companies, I see that many still have a lack of executive sponsorship and data is perceived as a nice-to-have rather than a strategic must-have.
How can companies tackle data management in order to successfully implement a data strategy?
The most important element is to obtain sponsorship from the top with a dedicated budget to work on building a strong data governance which prioritizes data cleaning. A culture of data governance must then be established in partnership with data stakeholders, ensuring the proper use of trusted, consistent, and fit-for-purpose data across the whole organization.
Implementing an effective data governance program should be the final step. It needs to be aligned with value creation through growth of the business, supporting the drive for operational efficiency, and enabling improved risk mitigation through optimization and effective use of existing data assets.