In recent years, more and more organizations are turning to data to help them make better, more informed decisions. This pursuit to become more data-driven has long been a goal from executive boards down through the C-suite and into individual teams. But, reaching the holy grail is not so easy. In a new survey from NewVantage Partners featured in the Harvard Business Review, it seems more organizations lost ground last year than gained, as less than a quarter of all organizations now identify as being data-driven. If making a data-driven business transformation is the end goal for so many, then why isn’t it going very well?
One answer is getting to be a truly data-driven organization requires a culture shift. For those of us covering the data governance space for years, this is no surprise. Asking people to care about data is difficult when their only experiences to date have been fraught with inconsistencies and inaccuracies – not to mention the data itself often being generally inaccessible. Approaching data governance as part of the solution only adds insult to injury for many if it’s approached from a place of compliance and control. This is why more and more organizations are approaching the cultural shift that is data governance from a place of collaboration. Rather than applying red tape, they are instead approaching the same goal of being data-driven from a point of empowerment.
By focusing on how an enterprise data governance program can enable rather than disrupt, you can shift the emphasis from policies and processes to business value. Once teams can look to the data governance program as a source for answers – a place to fulfill their data needs – they begin to trust the efforts.
Technology can scale data governance by helping more business leaders gain access to reliable data to make better decisions. When looking for a modern data governance tool to support your data governance framework and enable your pursuit of being data-driven, consider these five capabilities:
As stated by NewVantage Partners in the Harvard Business Review, “Companies must reexamine they ways that they think about data as a business asset of their organizations. Data flows like a river through any organization. It must be managed from capture and production through its consumption and utilization at many points along the way.”
Investing in a modern data governance tool will help ensure that your organization becomes more data-driven by ensuring data can be found, understood, protected – and ultimately trusted.
Ready to see how the right data governance tool can help with your data-driven business transformation goals? Check out our demo videos now.