Data Governance - 1 - Executive Overview Flashcards
What does it mean for an organization to be ‘data driven’?
To manage data as an asset.
Who is the primary audience for the concepts discussed in this chapter?
An organization’s top leadership.
What are some consequences of poor data management?
Fraud, security breaches, loss of customers, inaccurate inventory.
What is the estimated cost of errors and lost opportunities due to poor data management?
$US trillions.
What does data governance (DG) oversee?
The operation and evolution of essential capabilities to manage data assets.
What are some risks associated with mistreating data?
Privacy breaches, errors, reputation damage.
Fill in the blank: Organizations need to be as rigorous with data as they are with _______.
inventory, suppliers, employees, or finances.
What is often the usual resourcing of a typical initial data governance effort?
Under five full-time equivalents (FTEs).
True or False: Data governance is a new and unknown area for organizations.
False.
What do organizations that succeed with data governance show?
Measurable business improvement.
What is a common misconception among executives regarding data controls?
That basic data controls and oversight are in place.
What is the role of the Chief Data Officer?
To ensure strong alignment to strategy, leadership, and sponsorship in data governance.
What is a key point regarding executive engagement in data governance?
Executives must demonstrate engagement for the program to succeed.
What does data governance provide for data assets?
Guardrails for using and taking care of the data assets.
Fill in the blank: Data governance is similar to corporate governance in that it ensures _______.
policies are followed.
What is a significant challenge organizations face regarding data management?
Departments managing data in their own unique ways.
What is the relationship between data governance and organizational strategy?
Strong alignment is necessary for success.
What does the author compare data governance to in terms of organizational capability?
Lean, Six Sigma, BPR.
What does the author suggest about the cost of implementing data governance?
DG does not mean an increase in overhead.
What does DG ensure regarding data quality?
It sets parameters for consistency and acts as quality assurance.
True or False: Data governance should be treated as an inconvenience.
False.
What is the author’s call to action for executives?
Engage in a movement toward new business capabilities regarding data.
What are the consequences of bad data driving bad AI models?
Bad actions and potential harm to individuals or society.
What is the fundamental shift in how organizations view data, according to the author?
Data governance is now a required capability.
Fill in the blank: DG is the true indicator of a shift in how organizations view and _______.
manage data.
What does DG stand for?
Data Governance
DG refers to the framework for managing data assets in organizations.
How is DG viewed in relation to Lean or Six Sigma?
As significant as Lean or Six Sigma
DG represents new capabilities required for modern times.
What is the primary goal of DG?
To set parameters for consistency
DG is seen as the quality assurance aspect of data management.
According to Deming, what is the difference between quality assurance and quality control?
Quality assurance is ‘doing the right things’, while quality control is ‘doing things right’
This highlights the philosophical distinction in managing quality.
Is implementing DG associated with increased overhead?
No, DG does not mean an increase in overhead
Properly implemented DG should not require additional funding for manpower or capital.
What should be the outcome of perfect DG deployment?
Zero increase in costs with no separate DG area
This indicates that DG can be integrated seamlessly into existing processes.
What does DG aim to modify in organizations?
People’s behaviors and business processes
DG encourages clearer thinking about data management.
What challenges do organizations face regarding DG?
Short attention spans and resistance to new initiatives
Organizations often abandon new strategies if they seem difficult.
What mindset is crucial for the success of DG?
The mindset of leadership
Leadership plays a key role in fostering a culture that embraces DG.
How does DG compare to other initiatives like HR programs or Six Sigma?
DG receives less attention despite its significance
Organizations often prioritize other initiatives over DG.
What is the purpose of Chapters 2–6 in the book?
To orient management and newcomers to DG
These chapters aim to increase awareness and understanding of DG.
What can additional awareness of DG help organizations achieve?
Monetize data assets correctly, with minimal risk, in an ethical fashion
This emphasizes the importance of ethical data governance.
