September 6, 2012 – New York, NY - Data Quality and Data Governance continue to grow in importance for data professionals, especially with the emphasis on organizational compliance in the wake of the recent financial crisis as well as the nearly decade-old Sarbanes-Oxley Act. Remember, officers of any enterprise can be held legally accountable for non-compliance.
Anyone establishing a Data Governance initiative at an organization needs to look at the entire task as program optimized for permanence and growing maturity, not simply a one-off project. The UK’s Financial Service Authority clearly states the importance of creating this kind of practice, and the same principles apply no matter the country:
“A firm should have clear and documented standards and policies about the use of data in practice (including information technology standards) which should in particular cover the firm’s approach to the following:
Any approach to operationalizing an organization’s overall Data Management role must include a look at the integration of business and IT Metadata, Data Quality methodologies, and finally implementing Data Governance along with stewardship.
Pete Rivett, CTO for Adaptive, maker of systems to manage enterprise information, sums up the need for an approach towards organizational Data Quality:
“Governance of enterprise data is no longer optional or a ‘nice to have’ – it’s being demanded by regulators and it needs to be part of everyday business operations. Without a complete understanding of how enterprise information is created, defined, managed and consumed, an organization’s ability to meet external compliance reporting demands and optimize overall business performance is severely undermined.”
To read the rest of the article, please visit: http://www.dataversity.net/operationalizing-data-governance/