Webinar summary: Data Governance 2.0, Data Stewardship & Privacy: Best Practices to Operationalise Data Strategy

On Wednesday, 6 May, Mario de Francisco, CEO of Anjana Data, presented Peter Kapur, founder of True North Data as a webinar speaker Data Governance 2.0, Data Stewardship & Privacy: Best Practices to Operationalise Data Strategy, the second in the series “The DATA-DRIVEN webinar series”. 

In this webinar at English, Peter Kapur spoke about the reinvention of data governance after the 2008 crisis as an opportunity for data monetisation and revenue optimisation. Here are some of the main points:

• • Data governance – Historically, it has focused on compliance with rules and regulations. 
    • • Data governance 1.0 gained greater relevance after the financial crisis, satisfying regulators in the certification of financial data (BCBS 239, Sarbanes–Oxley).
      • The frameworks were creating integrated governance components (DAMA, DMBOK). Assessments/checklists were created (DCAM, DMM). Privacy and data protection were added to the framework to continue compliance with regulations.
      • The Data Governance Framework 1.0, with policies and procedures, was used across all industries, even those that were not directly affected in 2008, but which relied on keeping regulators at bay.
  • Data governance 1.0. Industry best practices – Limited and isolated business operations, data innovation & big data.
    • • The primary objective was not to provide commercial value or solve problems, but to satisfy regulators. It was assumed that once policies/standards/best practices were written, everyone would follow them.
      • While data management intensified in 2008, data acquired strategic value for companies that focus on data transformation by leveraging the big data for operational efficiency and revenue optimisation.
      • Initially, data management attracted information technology management professionals to support regulations, but the profession is now more diverse. There is tremendous opportunity in data governance innovation.
  • Data governance 2.0 – Operationalisation, adaptation and enabling of business innovation.
    • • Data governance is evolving from a «policy and compliance» perspective to delivering tangible value for business innovation.
      • Part of data governance 2.0 is already underway with companies integrating it into their data strategy and analysis.
      • Stakeholders (data producers and consumers) are essential to the creation of a «connected» data strategy.
  • Data administrators are the heroes of data governance.
    • Data managers must take a leadership role in building a data culture within the organisation.
    • Metadata and business terms must be involved in a holistic view of data assets.
    • They should participate in the maturation of the data asset catalogue within an organisation.

     

    

     

Within these topics, Peter Kapur presented a definition of data governance that is quite aligned with Anjana Data's vision: «Data governance is a system used to define who within an organisation has authority and control over data assets and how those data assets can be used. It encompasses the people, processes and technologies needed to manage and protect data assets.».

If you would like to know more about how Anjana Data can help you with your data strategy by changing the way your organisation views data governance. Request a demonstration live.

We remind you that the full video of the webinar Data Governance 2.0, Data Stewardship & Privacy: Best Practices to Operationalise Data Strategy It is on our YouTube channel, where you will also find more videos related to data governance. You can subscribe to receive notifications of new videos.

>>>> Register for the following webinar: The importance of Data Governance in the DAMA framework.