How to optimize the business value of your data

“Instead of being controlled by data and the regulator, we want that nirvana state of using the data in order to turn on a dime to market conditions and new opportunities.”

So said Philip Dutton, Co-CEO and Co-Founder, Solidatus.

It’s all about agility.

With data governance playing a key role in transforming the way organizations manage their data, agility has grown ever more necessary. But what is agile data governance and how do businesses know if they are actually doing it, let alone using it optimally?

This type of data governance is one that is flexible and adaptable to change. It allows organizations to not only have high quality and trustworthy data assets, but to also effectively develop those sets in the face of change. From new or updated regulations, to impact assessments, agile data governance is about getting in front of the problem, not stuck behind it.

Philip Dutton delved deeper into this topic with a team of experts from Societe Generale, Royal London Asset Management, ActiveNav and TickSmith for the latest A-Team Insight webinar ‘How to optimize the business value of your data using agile data governance’.

Together, they discussed what agile data governance is, the business and operational benefits it can deliver and how it can be successfully implemented, with these key takeaways:

• An agile data governance framework needs buy-in from the business – not just from senior management, but across the board so that it shifts from a siloed way of thinking and doing things, to an actual culture.
• This cultural piece doesn’t involve just data, but also people, processes and policies. It needs to be embedded into existing processes as something businesses do by default and design.
• With your workforce educated, the tech behind it will fall into place. Modern data governance and management tools are designed with agility in mind, and a well-developed solution will always support organizational change.
• Lineage-led technologies such as Solidatus – that go beyond basic governance by adding data dimensions including quality, ownership and sourcing – are transforming the data landscape with agility to efficiently re-use data and processes as market conditions change. The Solidatus solution allows organizations to design, implement and re-use operationally effective governance with true data-driven business value.