Data contracts are formal agreements between a data provider and a data consumer. They abstractly describe the data as well as the exchange structure, format, and characteristics and schema of information. Why is a data contract required? Data contracts establish guidelines and rules for data sharing, storage, deletion, or archival. Moreover, they ensure that the data […]
Data Governance: How Can It Be a Crucial Enabler for Managing Data Risks?
In July 2021, one of the world’s leading banks revealed a loss of $5.5 billion due to a default by one of its customers. The bank identified the “failure of management and controls” in its investment banking arm as the fundamental cause of this loss. This incident reinforces the importance of a robust governance framework […]
Finding the Right Data Governance Model
Data Governance has received much attention in both the academic and practitioner communities over the past 15 years. Compared to the even more recent concept of Data Governance, IT governance has evolved from the initial concept of corporate governance. In the past year, the interest has increased with the evolution of the modern data stack and cloud adoption, […]
Managing Customer Preferences Using Graph Databases
Managing customer preferences is one of the many aspects of managing customer journeys. Customers interact with organizations across a myriad of digital channels, and being mindful of preferences can increase the trust associated with customers. Read on for how graph databases can help manage these customer preferences. Data privacy and protection policies across geographies make it […]
Best Practices for Managing a Data Fabric
When data is not viable for integration across systems and processes, business users will seldom have the right coverage of data. If people lack knowledge about data and its importance logically, it often becomes a challenge, which leads to less impactful decisions. A data fabric is an architectural capability that can give organizations a “data […]
Data Quality Dimensions Are Crucial for AI
As organizations digitize customer journeys, the implications of low-quality data are multiplied manyfold. This is a result of new processes and products that are springing up. Since the data from such processes is growing, data controls may not be strong enough to ensure the data is qualitative. That’s where Data Quality dimensions come into play. […]
Five Data Governance Trends for Organizational Transformation in 2022
The importance of data has increased multifold as we step into 2022, with an emphasis on active Data Management and Data Governance. Furthermore, thanks to the introduction of new technology and tools, we are now able to automate labor-intensive data and privacy operations. Below are five Data Governance trends organizations can adopt based on digital […]
How a Cultural Shift Toward Data Democratization Can Improve Analytics
As part of a well-desired culture change of data awareness in an organization, data democratization is a concept that enables easy access to data by anyone. The ease of availability and access to data allows for direct and indirect data monetization, thus improving revenue streams. This concept can be realized through an internal marketplace as […]
Practical Steps to Manage Data Privacy and Govern Data on the Blockchain
Blockchain is a technology that allows information to be recorded while protecting data against tampering, thereby maintaining integrity. While blockchain records information like a database, it differs from a traditional database in that it stores data in blocks that are linked as chains and are theoretically immutable. Capabilities of Blockchain That Enable or Disable Data […]
A New Approach to Integrate Metadata and Ease Daily Data Operations
Click to learn more about author Tejasvi Addagada. With the ever-increasing variety of tool stacks, managing data has become more complex. The tool-stack needs to be managed along with the data that is either stored or processed by them. As we manage this disparate data actively, self-service business intelligence is possible. Further, this ideal state […]