By 2025, data volume is expected to explode beyond 181 zettabytes of new data generated annually
What is Data Governance?
Companies’ ever-evolving digital transformation generates large volumes of data with increasing complexity. To keep all that data organized and safe, companies must adopt Data Governance, a set of internal policies, processes, and tools for accessing, managing, and securing company data. Data governance manages data from intake to storage to archival/disposal; Data governance defines who can and cannot access data and ensures compliance with standards and regulations.
Why is Data Governance More Important Than Ever?
Effective data governance isn’t simply a choice, it’s an essential strategic priority. Here’s why:
Accurate Business Insights
Data continues to become more essential to business decisions. Data governance practices improve data accuracy and accessibility and increase trust in analytics and decision-making.
Financial Consequences
Poor data management can cause serious financial consequences. In 2024, the average cost of a data breach is $4.55 million.
Increased Regulations
Failure to adhere to regulations and compliance standards can result in fines, disruption of business, and legal issues.
Consumer Trust
Consumers have become increasingly concerned about data privacy. By implementing robust data governance, companies mitigate the risk of a data breach and have the opportunity to build consumer trust.
Case Studies
Our consultants help our clients achieve efficiency and compliance and gain a competitive edge in the current data-driven market.
ClearBridge provided a Data Governance SME for our client, a leading health & human services organization. Our consultant supported a federal enterprise EHR modernization effort for the migration to Cerner. Our expert was responsible for establishing a framework to govern the acquisition, storage, management, and sharing of data within the federal electronic health records system and supporting the deployment and optimization of data governance bodies from an organizational design and process perspective.
We provided an HRIS Data Governance Analyst for our client, a real estate technology company. Our consultant was responsible for cleaning up existing Workday data, establishing standards and best practices for internal teams, and creating auditing processes to ensure good data moving forward.
ClearBridge provided a Data Governance Lead to support an SAP implementation for our client, a national consumer packaging company. Our consultant set up metrics for data quality and facilitated data cleanup and business process change to increase the level of data quality across the organization.
Looking Forward
Thanks to the integration of AI and machine learning, regulatory changes, and a greater focus on ethical data management, the landscape of data governance is dynamic and evolving. Data governance is at the forefront of business strategy and will continue to gain momentum, helping companies unlock the potential of their data effectively and responsibly.
If you need support with data governance, ClearBridge can help. Contact us to learn more.
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