Protect and Manage Your Data and Sleep Better at Night
We’ve all seen the horror stories of data and security breaches where personal information held by large companies has been put in jeopardy by hackers. But what are your vulnerabilities? Consider this possible scenario: Several people in your organization buzzing about an employee who had just been fired. The employee found and accessed a spreadsheet containing the salaries of everyone in the company. This information was shared with several other employees so they could use the information as a bargaining point for their next increases. It can happen to you!
Needless to say, every company must embark on a data management and governance mission to prevent these types of problems. Data security is just one element but it is extremely critical. Put the right policies in place to prevent not only internal mishaps, but also external impacts from theft or attack. Identify and eliminate your vulnerabilities through data management and security!
Just Plain Good Data – Business Benefits
Here’s another common Data complaint we hear from clients. They have created two reports that contain some of the same data but wondered why they were seeing different results. Aside from security, data management and governance also sets the parameters for data accuracy, quality, consistency, completeness and reduced data redundancy.
Business Benefits Include:
- Confidence in decision making
- Labor and time savings from not having to question data sources or re-work reporting results
- One Source of Truth – The ability to call on one source or team to investigate and/or make recommendations about data
- Streamlined Data Management – Very likely there will be the elimination of many individually kept and maintained spreadsheets (yes, we all know they exist and we may even be a contributor)
- Reduced Risk – Meeting government regulations and avoiding fines such as those realized with Sarbanes-Oxley, HIPAA, Basel II, etc.
- Culture of Trust – Proof that an enterprise of people can work together and achieve collaboration on data compliance (does anyone hear singing or see rainbows and unicorns?)
Quality data is a key asset to any organization and should be treated as such. It should be combined with business process best practices to drive improved operating results. There are many things that take our attention when trying to build and run a successful business. Good data management and governance will eliminate wasted effort and unnecessary distractions and streamline your processes. See how one organization used strong process improvement and data management techniques to focus their business in the right direction.