In the current study “Data Governance in volatile times – What role will data governance play in the future?”, IBsolution examines how uniform and disciplined (master) data maintenance contributes to corporate success and what challenges exist in establishing a functioning data governance. The survey is now available as a free download.
Data, and master data in particular, represent an indispensable strategic foundation for the digital transformation of companies. A high-quality and complete data pool is the prerequisite for making the right decisions, optimizing business processes, increasing productivity and driving automation. Data governance creates the structural framework for successful (master) data management. The term refers to the discipline of data management for the administration, access and authorizations of data stocks in companies.
Importance of data governance in companies
To determine the importance of data governance in today’s fast-paced environment and ever-changing business world, IBsolution conducted a comprehensive survey. This survey identifies the current situation of data governance in the market or in companies and also analyzes the challenges, optimization potentials and trends of this discipline. The results of the study are available as a free download on the IBsolution website.
Drivers and challenges
Nearly 25% of companies have not currently implemented any data governance at all. As a result, complications repeatedly arise in the management and maintenance of data, data quality, and responsibilities and processes. Among the key drivers for data governance is the lack of clearly assigned roles, responsibilities and ownership rights in (master) data maintenance.
Other motives for companies to address data governance are inconsistent processes in data management or the introduction of a new system such as SAP S/4HANA. When implementing data governance projects, the accompanying change management represents the greatest challenge for 52% of respondents.
Foundation for digital transformation
Data governance forms the stable foundation for successful data management. Functioning data governance has proven to be indispensable for companies, especially for digital transformation, strengthening resilience and ensuring their own future viability. The size, turnover or industry of an organization is irrelevant – data governance is a strategic success factor for every company.
Download the study “Data Governance in volatile times – What role will data governance play in the future?” by IBsolution here for free (in German).
