Data has become one of the most valuable assets of modern businesses. The data a company collects, analyzes, and monetizes is now perceived as a distinct “asset class” rather than merely a byproduct of its IT operations. However, the value of data to an organization diminishes rapidly as the information becomes less accurate. Companies are responding […]
Data-Driven Decision-Making 101
Data-driven decision-making involves utilizing data and analytics to solve business problems. Relying on facts rather than intuition or personal opinions can lead to more accurate and effective decisions. In business organizations, evidence-based decisions can optimize operations, enhance productivity, and drive growth. By examining trends, patterns, and correlations within datasets, business operators can uncover valuable information that helps […]
Metadata Management Best Practices
Using metadata management best practices helps to maximize the value of the data stored by an organization. Finding the right data after it has been placed in storage can be difficult if the storage system has no organization. Metadata is used to organize the data so it can be found easily. Metadata is essentially a […]
Critical Data Elements Explained
The process of identifying critical data elements (CDEs) is a fairly new best practice in Data Governance programs. Software does not yet support the identification process. CDEs may be described as the specific data needed for doing business (requiring high-quality data) or the specific data that is extremely sensitive (requiring good security). These particular data […]
Data Visualization Best Practices
Good data visualizations boost business data literacy by presenting well-thought-out dashboards or reports that show data assets for quicker and more straightforward consumption. Following data visualization best practices leads to positive outcomes for organizations. These benefits include reducing the time and costs of questions data consumers ask by answering them up front in the data visualizations. Additionally, good visualizations increase consistency […]
Getting Executive Buy-in for Data Management
Within the last several years, the marketplace has shifted from industrial-produced to data-based. Consequently, many companies have a strong drive to become data-driven, from financial firms to nonprofits. Yet, when C-suite managers and others discuss making money from data, they see the face of data analytics and Data Science. These conversations miss the Data Architecture and Data Management fundamentals […]
Core Data Concepts for Digital Transformation
Without a clear understanding of core data concepts, communications around implementing an organizational Data Management initiative can become a muddle. As different teams come together to plan and organize data activities, they must integrate what they mean about data with any technologies. For example, take the term “Data Governance.” Data engineers building systems and tools to enable […]
Creating a Successful Data Quality Strategy
Maximizing the value of data often comes down to ensuring it’s in the right place at the right time and in the right form. While that process may produce magical-seeming results, the road to creating an optimal data quality strategy need not be mystifying. This was the guiding message delivered by Monika Kapoor – director […]
Data Literacy 101
From social media to online shopping, data is generated and collected at an unprecedented rate. In the current data-powered society, it is crucial to be able to understand and interpret all types of data. Data literacy – the ability to read, analyze, and communicate with data – is crucial to use the power of data. […]
How Data Governance and Data Literacy Overlap
In today’s tech-driven world, with 120 zettabytes generated annually, most of us already use data – and lots of it. “Everyone who reads a paper or scrolls through the Internet is already acquainted with data,” said Wendy Lynch, founder of analytic-translator.com and Lynch Consulting, in a recent Elevating Enterprise Data Literacy webinar. “We depend on data, compare data, react to data, […]