Exercise and good nutrition. Getting a good night's sleep. Spending less than you make. These are time-tested guidelines for a life that's well lived. Yet so many of us fail to follow these and many other common-sense practices that can prolong our lives, make us happier people or deliver long-term wealth.
Sadly, the same is true for data governance. We know it's good for business, but we consistently fail to get it done. This article explores why data governance remains a struggle for many organizations and how the principles underlying modern blockchain technologies can be used to help right the data governance ship.
The successful definition, management and implementation of policies to ensure the appropriate use of data have, for many regulated businesses, been non-negotiable. However, the depth of valuable insights trapped in ever-expanding volumes of data in the digital realm presents a massive opportunity. Increasingly, companies acknowledge data governance as a critical dependency to both protect and grow their businesses. If data is the new oil, then data governance—supported by solid data management practices—is the refining process that transforms low-grade corporate data sludge into high-octane rocket fuel.
In a world where disruption is the norm, companies that excel at data governance can digitally accelerate, and those that don't can be left behind.
Still, as important as data governance is, most struggle to leverage its benefits, while others simply ignore it altogether. In a 2021 Gartner, Inc. survey (subscription required), only 30% of business leaders said they had been successful in using governance to optimize data for business processes and productivity. A similar Gartner survey from 2020 showed that only 42% of leaders assess, measure or monitor governance performance.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/09/15/how-blockchain-can-save-data-governance/?sh=3a7374522a92
Sadly, the same is true for data governance. We know it's good for business, but we consistently fail to get it done. This article explores why data governance remains a struggle for many organizations and how the principles underlying modern blockchain technologies can be used to help right the data governance ship.
The successful definition, management and implementation of policies to ensure the appropriate use of data have, for many regulated businesses, been non-negotiable. However, the depth of valuable insights trapped in ever-expanding volumes of data in the digital realm presents a massive opportunity. Increasingly, companies acknowledge data governance as a critical dependency to both protect and grow their businesses. If data is the new oil, then data governance—supported by solid data management practices—is the refining process that transforms low-grade corporate data sludge into high-octane rocket fuel.
In a world where disruption is the norm, companies that excel at data governance can digitally accelerate, and those that don't can be left behind.
Still, as important as data governance is, most struggle to leverage its benefits, while others simply ignore it altogether. In a 2021 Gartner, Inc. survey (subscription required), only 30% of business leaders said they had been successful in using governance to optimize data for business processes and productivity. A similar Gartner survey from 2020 showed that only 42% of leaders assess, measure or monitor governance performance.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/09/15/how-blockchain-can-save-data-governance/?sh=3a7374522a92
