If you have a data management system in place, then maybe it’s time to consider a strong information governance (IG) framework. The gist of IG is simple; IG involves policies and processes that make it possible to use information more efficiently and effectively. What’s not to like about that?
If you have objectives you want to achieve when it comes to your data, then you want an IG framework, and there are quite a few reasons why.
For one, it’s safer and your data is more secure. IG means security, reliability, integrity, accessibility and quality of your data, all because there are a stringent set of rules, standards, and regulations that affect data flow, but in a good way.
As a strategy, IG ensures that information is utilized as an asset to support decision making for any organization. It addresses all information, whether it is generated internally or externally to the organization.
Data management and organization are both crucial to business function. In finance and banking, data is used to create accurate risk models for loans and mortgages. In marketing, data is used to improve conversions, increase customer satisfaction and create targeted advertising campaigns. Retail stores use customer shopping details to optimize the layout of their stores in order to improve customer experience and increase profits. How this data is accessed, stored, and used is imperative for efficiency and productivity.
Without a change in approach to the way your company manages corporate information, it won’t be long before you’re drowning in a sea of records. That’s why companies are instituting IG, to enforce desirable behavior in the creation, use, archiving, and deletion of all corporate-related information.
Edited by Rory J. Thompson