Data Governance - 3 - Data Literacy and Concepts Flashcards
What are the two ways organizational leadership can approach data governance (DG)?
- Embrace DG as part of the process for data asset monetization, AI, or cost reduction. 2. Set a vision for better-managed data and allow subordinates to work out the details.
Why is leadership’s understanding of data concepts crucial in modern organizations?
Data is a pervasive and mandatory aspect of organic growth, requiring leadership to have a solid understanding of key data concepts.
What is the definition of data governance (DG) according to the Data Management Body of Knowledge (DMBOK)?
The exercise of authority, control, and shared decision making over the management of data assets.
How does data governance (DG) relate to the concept of managing information assets?
DG ensures the proper management of information assets similar to how accountants manage financial assets through principles, policies, and auditing.
What is the significance of viewing data as an asset in organizations?
Data must be managed as an asset, meaning it has value when used correctly, and its mismanagement can lead to negative consequences.
What is the metaphor used to describe the cultural fatigue in managing data?
Data whack-a-mole, referring to the overwhelming nature of constantly fixing data issues.
Fill in the blank: Data governance is a required business capability if you want to get ______ from your data.
value
What are the three interrelated concepts that need to be understood in data management?
- Data (or information) management 2. Enterprise Information Management (EIM) 3. Data (information) architecture
What does the term ‘business capability’ refer to in the context of data governance?
What needs to be done for an organization to fulfill its mission regarding data management.
What is a key characteristic of data governance as a program?
DG is not a project with a discreet start or end point; it operates under a ‘going concern’ concept.
True or False: Governance implies a predetermined rigor and enforcement of rules.
True
What does Enterprise Information Management (EIM) manage?
Plans, policies, principles, frameworks, technologies, organizations, people, and processes to maximize investment in data.
List the seven reasons why capability-based planning is effective.
- Top-down, whole-of-organization approach. * Focuses on executing strategy. * Provides a map of overall capabilities. * Links initiatives to capability changes. * Helps prioritize capabilities. * Delays solution definition for better alternatives. * Systematically identifies change initiatives.
Fill in the blank: Effective data governance requires a change in the ______ around data.
mindset
What is the relationship between data governance (DG) and data management (DM)?
DG and DM are two sides of the same coin; DG ensures DM is happening.
What does the term ‘data supply chain’ refer to?
The movement of data through various stages within an organization, similar to a product supply chain.
What is the consequence of viewing data governance as merely a new department?
It leads to a misunderstanding that can cause significant problems later.
What is the common misconception about data management in organizations?
That it is a localized function rather than an enterprise-level program.
What is meant by ‘data as an asset’?
Data can be used as an asset through proper data governance, ensuring its value is realized.
Explain the concept of ‘data architecture’.
The structure and organization of data within an enterprise to support data management and governance.
What is a major barrier to successful data governance?
The belief that it is simply a new means to fix data issues.
True or False: Data governance is solely about fixing data problems.
False
What does EIM stand for?
Enterprise Information Management
EIM manages enterprise information assets to support business and improve value.
What is the goal of EIM?
To maximize the investment in data and content.
Can EIM be deployed by department?
No, EIM requires a unified direction, philosophy, and mind-set.
What does IM stand for?
Information Management.
What is the primary focus of IM?
The day-to-day management of information as a formal asset.
Define data architecture.
A representation of the DM environment, its components, and their interactions.
What does the Governance V model illustrate?
The separation of governance and data management responsibilities.
What are the two sides of the Governance V?
- Left side: Governance
- Right side: Data Management
True or False: DG is a function performed by those who manage information.
False.
What is the internal definition of DG at ACME?
A program to manage organizational bodies, policies, principles, and quality for accurate data access.
What does MDM stand for?
Master Data Management.
What is the purpose of MDM?
To create a ‘gold copy’ of crucial data subjects to ensure consistency.
List three components that DG supports in MDM.
- Ensures standards are defined
- Aligns MDM efforts with business needs
- Addresses data quality and process changes
What is data quality?
The degree to which data is accurate, complete, timely, and relevant.
How does DG support data quality solutions?
- Ensures data quality standards are defined
- Ensures ongoing evaluation of data quality
- Addresses organizational issues
What does BI stand for?
Business Intelligence.
What is the core concept of BI?
Using information to achieve organizational goals.
How does DG enhance BI?
- Aligns BI activity with business activity
- Ensures data quality for BI
- Maintains consistency in data standards
What is analytics in the context of data governance?
The application of modern data technologies for data discovery and interpretation.
What is the relationship between AI and data governance?
Governance ensures legitimacy of AI models and data quality.
What are organizational principles according to DMBOK?
- Fundamental laws or doctrines
- Rules or codes of conduct
Fill in the blank: DG is a framework of ________ and processes for making decisions.
accountabilities
What is the difference between data quality and information quality?
Data quality pertains to data accuracy, while information quality pertains to meeting knowledge worker expectations.
What are the two definitions of principles according to the DMBOK?
- A fundamental law, doctrine, premise, or assumption
- A rule or code of conduct
Principles are statements of philosophy that guide information asset management.
What do principles represent in the context of governance?
Core beliefs that form the anchor for all policies and behaviors around information asset management (IAM)
Principles are not to be confused with policies or rules.
What is GAIP™?
Generally Accepted Information Principles
GAIP™ is modeled on Generally Accepted Accounting Principles (GAAP).
List the principles included in GAIP™.
- Content as asset
- Real value
- Going concern
- Risk
- Due diligence
- Quality
- Audit
- Accountability
- Liability
What is a policy in the context of data governance?
A statement of a selected course of action and high-level description of desired behavior to achieve a set of goals
Policies are enforceable processes that codify principles.
True or False: Data Governance (DG) is considered an IT program.
False
DG is for the business or organization, not just IT.
What approach should be taken for implementing DG?
Iteratively, in a carefully designed deployment
DG is not a big-bang endeavor and requires learning how to govern.
What are the four stages of learning in DG?
- Rote
- Understanding
- Application
- Correlation
What does the Initial stage in the information management maturity model indicate?
The organization is entrepreneurial; individuals have authority over data, leading to chaotic and idiosyncratic information maturity
Data quality is far from integrated at this stage.
What happens at the Managed stage of information management maturity?
Data and content assets are tracked, lineage of all content is understood and documented
Analytical results are used to close process loops.
What is the key concept of information management maturity (IMM)?
It represents a broadly understood means to measure the progress and effectiveness of DG
If IMM improves, DG is working.
What changes does DG implementation require?
Changes in business and technology functions
Some changes may not be well received.
Why is managing data as an asset crucial?
It ensures that data, information, and content are treated as assets in the true business and accounting sense
This helps in avoiding increased risk and cost due to data misuse.
What are the four essential elements required for managing data as an asset?
- Standards of use
- Accurate financial tracking
- Statement of value to the organization
- Assignment of accountability and responsibility
How does DG relate to data governance and management?
DG is key to managing data assets and is contrasted with data and information management
Understanding the relationship helps in keeping terminology straight.
What is the impact of organizational culture on DG implementation?
It may require executing all four layers of learning to get through each maturity level
Culture can influence how DG is perceived and executed.
Fill in the blank: DG is not done with an expectation of _______.
business as usual
What is the role of discipline in any DG effort?
It is essential regardless of the approach taken
Discipline ensures consistency and effectiveness in governance.
