Data governance evangelists have had it pretty good of late. First there was the global financial meltdown of 2008, and experienced data management professionals all know – a crisis is a data quality initiatives best friend! The economic crisis certainly put the pressure on financial services organizations to focus on data governance, initially from a governance, risk and compliance standpoint. The regulators were watching and no one wanted to go to jail. But the crisis also helped data governance efforts across all other industries, because CEOs, COOs, CFOs and CIOs are looking for anything they can do to protect their financial margins and remain competitive. Ensuring trusted, secure data throughout the organization to improve operational efficiencies, reduce costs, reduce risks, increase revenue and market share, and/or provide optimal customer experiences has become an increasingly common executive mandate.
Unfortunately data governance maturity remains extremely low and most business leaders still have not accepted accountability for data quality – and expect that IT can and should be primarily responsible for data governance. Many of us in the vendor, consulting, industry analyst and thought leadership community have been working diligently to provide as much support as we can to enable IT leaders to better educate their business counterparts. The goal is for these leaders to understand how and why they need to own and be accountable for the policies, rules, definitions and standards for data quality and security.
Thankfully data governance is getting a little more help in this regard. Business leaders from around the world are closely monitoring four technology megatrends transforming the way organizations do business. These megatrends include Cloud, Social, Mobile and Big Data. Most business leaders can’t effectively articulate why they care about these newer paradigms, but that’s why they are asking their CIOs and IT leaders to help them understand the opportunities and risks of ignoring. This is where we have a fantastic chance to once again position data governance as a must-have dependent enabler for business transformation. These megatrends depend on trusted, secure data and without proper data governance, all we’d be doing by adopting these megatrends is further increase our risk of exposure or bad business decisions due to bad data.
Join me and Claudia Imhoff on Tuesday, August 7, 2012 at 9am PT (noon ET) for a TDWI-hosted Webinar “Data Governance: A Business Opportunity The Business Can No Longer Ignore” to learn how to leverage the exploding megatrends of Cloud, Mobile, Social and Big Data to help build support and momentum for your data governance efforts.