Data Governance is all about managing the availability, usability, integrity and security of data within an organization.
Business Intelligence software gathers data from different sources and then analyze them and present that into actionable forms helping executives at different roles in the organization to take necessary actions.
Data being the spinal cord of any business intelligence tool, it becomes absolute necessary from an organization point of view to ensure that the right Data Governance framework is defined when it comes to analyzing data in a hassle free, friendly, quick and seamless way for the ordinary business users. Data governance policies also ensure that proper access rights are provided to the respective roles within an organization for handling data and analyzing the information (processed data) at different levels.
This data governance policy needs to be defined from the top end of any organization. Data governance framework is actually the blueprint of managing data of an organization from different aspects like architecture, process etc.
If implemented in a proper manner it ensures “unified and consistent view of information” across your organization when it comes to viewing and analyzing data through Business Intelligence software.
Organizations have started realizing that if any business intelligence (BI) software is implemented within an organization with the right data governance policies in place then, the return from BI investments would significantly improve. According to Forbes Insights, strong data governance enables business intelligence. However, while reinforcing the framework it is of utmost important to keep a balance between consistency and flexibility as well. As per Insights report, data inconsistency which actually creeps down to many versions of data view, and slow adoption rates create barriers to the success of BI adoptions. Data Governance is ending up increasingly essential to organizations keeping in mind the end goal to combine and safeguard the ventures made in the form of data by an organization overall.
A Data Governance program can take many structures relying upon the necessities and the current circumstance inside a particular organization. It can concentrate on subjects like data definition and benchmarks, quality of data, security and privacy, data integration & architecture, data warehousing and administration arrangement. Contingent upon the level of development of your organisation on those themes, the data governance program will help you to ensure that data access to different levels in the organization is secured and everybody does not have access to all data that is not required for that role. Easy Reports can help you in characterizing a customized Data Governance program for your association utilizing our extensive knowledge and experiences in each one of those territories.
In all cases, a Data Governance program will have segments managing:
- Data Definition Policy, Norms and Standards
- Data Ownership, Accountabilities and Decision Making Processes
- Data Security and Privacy
- Management of Data Life Cycle
- Data Quality Filtration Procedure
The quality of data is also of utmost importance. When business users have direct access to clean and consistent data and have the flexibility to analyze that raw data from different dimensions through self-explorations, and act upon market intelligence, it can have a huge positive impact on the growth of the organization.
BI Accounting tools like EasyReports provide instant actionable intelligence cutting the technology confusion and the organization ultimately benefits from the transformation of these ordinary business users into kind of data evangelists.
We realize that the success of Accounting BI tools like EasyReports depend on Data Quality. An effective Data Governance is required to overcome these data quality issues and thus ensures accurate and complete information leading to the growth of your organization from multiple layers.
Therefore, when an organization is short-listing on the business intelligence tool for purchase and finding out which one would fit the company properly, rather than focusing only on the rich visual User Interface or data discovery aspect they should also evaluate if the solution fits with the Data Quality initiative of the enterprise. This way people can be made accountable for any decision they are taking based upon their data analysis from business intelligence tool and they cannot just shift the onus of any adverse situation to poor data quality.
EasyReports has never gone over any association, regardless of how little or well run, without implementing strong data governance that fits that enterprise. Managing data quality issues is however, greatly troublesome and there surely is no single method to address all these issues. However, EasyReports plays a significant role in addressing these issues with a comprehensive approach to improving data quality. EasyReports deliver trustworthy information implementing the Data Governance funnel giving access of required data to the right role.