The cost of data loss is staggering – and avoidable. The news these days is full of massive fines levied against companies that failed to protect their customer data. An effective data classification approach is one of the best ways to ensure that companies can identify and protect their most valuable data. Our experience continues to […]
Focus on Your Most Critical Data Lineage to Manage Risk
Data lineage is extremely important since unknowns in the data flow are a root cause of enterprise risk. Enterprise Risk Management and Data Governance professionals are teaming up to implement the “Three Lines of Defense” model (3LOD). The goal of 3LOD is to provide an early detection and risk mitigation warning system. Line 1 includes Management […]
Data Projects Should Start with Data Governance
The hallmark of any successful Data Governance implementation is awareness. In the context of a large system integration project, we are talking about awareness of: 1) Data Quality expectations and metrics, 2) Enterprise Data Management plan, 3) Data Governance best practices, 4) data risk factors, 5) Data Governance framework, 6) data owners/data consumers, 7) Data Architecture principles, 8) […]
Empower Your Third Line of Defense for Effective Data Governance
Data Governance practitioners must incorporate all aspects that bind data to the organization. Internal audit, referred to as the third line of defense against risk, should actually be top of mind for implementing effective governance programs. The “Three Lines of Defense” model is an industry-recognized approach to enterprise risk management. The ultimate goal is to […]
Lean Governance Delivers Clean, Controlled Data at the Lowest Cost
Going lean is all about the elimination of waste and risk. In the manufacturing world, lean methods focused on delivering a high-quality product to the customer. In the data world, Lean Governance delivers clean, timely, and controlled data at the lowest cost with minimal bureaucracy. The path to Lean Governance begins with a view across […]
Excessive Bureaucracy Is Killing Data Governance
Click to learn more about author Steve Zagoudis. Despite the best-in-class Data Governance policies and programs, failure rates are still too high. Current efforts often fall short of delivering trusted data, despite huge investments of time and money. People are looking for a better way, judging by the high popularity of “Data Governance 101” conference […]
Lean Governance: The Next Machine to Change the World
Click to learn more about author Steve Zagoudis. Lean GovernanceTM is the next machine to change the world of Data Governance and Enterprise Data Management. As proponents of lean thinking, we view corporations as data factories that produce information for operations, reporting, and financial modeling. We were inspired by the 1990 groundbreaking book “The Machine that […]
Defining Principles, Elements, and Roles and Responsibilities in a Data Governance Policy
In previous blog posts, we defined the purpose, scope, and objectives of a Data Governance policy. In this blog post, we will complete the remaining sections needed for an effective Data Governance policy.
Solving the Right Problem: A Case Study in Risk Management
Click to learn more about author Steve Zagoudis. “Successful problem solving requires finding the right solution to the right problem. We fail more often because we solve the wrong problem than because we get the wrong solution to the right problem.” – Russell L. Ackoff [1] Managing risk starts with identifying and solving the right […]
Defining Purpose, Scope, and Objectives in a Data Governance Policy
Click to learn more about author Steve Zagoudis. In the last blog, we defined how to determine the target audience for a Data Governance policy. In this blog, we will begin to define the actual Data Governance policy. There are at least two primary documents that govern most working groups or committees. The first is […]