No BS Guide to Data Governance

With an abundance of industry buzzwords and jargon thrown at us every day, it is difficult to know what messages to let pass and those that we should grab on to. Data governance is a hot topic appearing across multiple channels, from articles to advertisements, and conversations spanning the board room to the airport bar. The noise around the term “data governance” is almost deafening at times. 

There are industry participants that are willfully stretching the truth behind their offering, while others are stuck with deeply academic perspectives that do not fit real world needs, and yet others so broad in their approach that they aren’t saying anything of value. However, we must not lose sight of the intended benefits from a deployment of a successful data governance program as we tune our ears to ignore the noise and focus on the substance. Our aim here is to help you cut through that noise as you try to make sense of what data governance can offer you and your organization.

Just as good lobster is an asset for a seafood restaurateur, data is the asset investment managers depend on to effectively manage portfolios and win clients. Data governance is the means by which an organization protects and maximizes the benefits inherent to its data assets. Data governance provides the framework for decision making, managing data quality and the technical architecture, as well as providing the means for consumers to interact with the data.

Properly aligning business users of information with the tools to confidently and efficiently access data while providing the technical and organizational structures to reliably support them should be a key goal for all successful asset managers. Governance provides the structure for making decisions and carrying them out across business and technology functions, as well as establishing the communication protocols necessary to keep stakeholders informed and well-coordinated.

Guiding Principles

An effective data governance program will help prevent independent decisions from adversely impacting broader community needs by bringing clarity, cohesion and accountability among relevant stakeholders.

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