Platform to address data trust & compliance challenges for your organization
The data governance process involves applying a set of processes to manage enterprise IT data as a corporate asset and ensure that the different business entities use and access the data in a simple, consistent and error free manner. What this does is give organizations the framework that forms the basis of recognizing, managing and applying the necessary controls around the enterprise data processing activities.
Data governance provides an organization with an accurate inventory of processing activities, apply the documented controls around the PII usage, and manage data retention requirements.
The policy engine defines the policies and controls that will ensure compliance with regulatory rules applied to source data and enforce quality of data.
The business glossary that defines the meta data with its standard data definitions, and documents this. This is the Heart of data governance.
The orchestration engine manages complex cross-domain workflows, creates source data connections and maps the source data by adding predefined rules to the data asset which is broken down into a group of critical data elements as per the business requirement and configure the existing Governance process to check data quality of source data.
Governance stewardship is when the data from multiple siloed sources is consolidated in one accurate record, using the match and merge concept, and remove duplicates to achieve the error free ‘golden record.’
Governance metrics involves assigning a trust index score to selected data assets. Reports for data assets and critical data elements are generated and available for analytics.
More accurate data, rigorous standards for data quality, and validated and consolidated data improves the speed of decision making and accuracy.
The costs incurred by loss of data or inaccurate and inconsistent and unsafe data is significant. Data governance implementation has been known to lead to a 40% cost savings for organizations.
Insights into customer behaviour will enable organizations to understand them better and solve their problems better.
Accessing your data records in one place, increases efficiency, accuracy and reduces wait times to access data.
Detection of duplicate and inconsistent records with the single source of truth, the golden record, speeds up your process.
Users are given access to verified data thereby giving them everything they need to understand complex data and make informed decisions.