Embedding a data governance framework that covers data quality, data security, data privacy and data ethics creates a trusted reputation. It promotes to your clients and their customers that their data is safely managed and ethically applied.
Creating the lines of communication and accountability to improve your data assets can greatly improve collaboration and innovation. Knowing who is responsible for your datasets and how to get access and ensure data is used correctly benefits the entire organisation.
Highlighting data quality issues and solutions to a dedicated senior leadership team can reduce wasted effort from expensive data science talent or reduce the cost of bad customer experience due to poor information held in operational systems.
As data is constantly being added, manipulated and stored its sometimes hard to see where it has come from, where there are copies and how long they are kept. Creating the standards, guidelines and policies that manage all of this can create clarity and speed up the change process.