Making data work for businesses with big ambitions
Data complexity is a common challenge faced by businesses of all sizes across all sectors. With data volumes increasing exponentially, data represents both the biggest opportunity and barrier to success for modern businesses.
At its core, data governance is the process of managing the availability, usability, integrity and security of data. A data catalog unlocks governance of data by providing a central repository for all critical metadata through which it can be contextualised, understood and most importantly, controlled. This allows organisations to take a strategic approach to data management, led by clear oversight and understanding, leveraging trusted and fit for purpose data.
Leverage data effectively
Good quality, trusted data underpins a business’ ability to manage risk, operate efficiently and make data driven decisions. If data is not well understood and trusted by its workforce, businesses will lack confidence in their risk and compliance programmes, risk losing revenue to inefficiency and potentially make decisions without critical insight from data.
Experian offer both data governance solutions and subject matter expertise to help clients achieve trust in their data:
- Cataloging capabilities that bring together the jigsaw of business metadata into a coherent view
- Flexible data model that adds critical business context to metadata
- Business impact dashboard to identify risks within data, and quantify their impact
In achieving understanding of its data estate, a business gains the ability to use data in genuinely informed ways to support key objectives and projects. This is achieved through the process of cataloging critical metadata in a centralised repository that becomes a single source of truth for understanding a data estate.
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Democratise data and remove silos
Traditionally, data has been the remit of siloed IT or data functions, managed in isolation without the engagement or participation of the wider business user community. Treating it this way restricts the ability of data to positively influence departments and functions across an organisation. Increasingly, businesses recognise the power of democratised data – data that is accessible to, understandable by and useable for a broader range of employees within a business.
Introducing greater levels of visibility and understanding of data helps break down silos, improve collaboration around data, and increase confidence in using data to help achieve goals.
With search and delivery features supporting users in locating the data needed to support operations and drive decisions, and by removing uncertainty with data definitions that create a common language and understanding of data; it becomes significantly easier for users to access the data they need and to feel confident in using it. A common language also breaks down barriers and misunderstanding between teams and departments, encouraging and enabling collaboration around data.
Assigned data owners close the loop by creating subject matter experts to lead the business around specific data items and support business users in getting the most from it.
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Prepare for and unlock AI
AI represents a wealth of opportunities for business, but with the caution that its responsible use requires both solid data foundations and careful control to unlock its potential.
With machine learning and AI both powered by data it is crucial that only high quality, fit for purpose data is ingested into AI initiatives. As AI technologies learn from data, there is a high margin for error if the data being used to train that technology is poor quality.
The market also expects high levels of diligence and control around AI. It is not enough to feel confident in the data powering your AI programme, businesses also need clarity and oversight of how that data is managed and how it links to wider data policies to minimise risk and ensure good results.
Data governance is the perfect enabler in this scenario, and we can help clients utilise governance to bring full control to AI processes by providing end to end visibility of what data will be used for AI and how, to deliver confidence that AI initiaitives are effectively managed and governed.
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Case study: University of Leeds
With the introduction of Data Futures from HESA, the University of Leeds sought a data expert to partner with to support their returns process.
With Experian's help the University were able to profile their data against HESA and data quality rules, and compare their initial and final data to gain a better understanding of where there were process and operational data quality issues.
Data catalogue: Cataloguing for effective data governance
Guiding users to the information needed and empowering businesses to unlock the potential of their data.
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Data governance report 2024
Data governance has become an essential topic for business leaders. But what exactly is data governance?
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