MONOCLE INSIGHT

Enterprise Level Data Governance and Management Best Practice

Stories>Enterprise Level Data Governance and Management Best Practice

At an enterprise level, effective data governance serves many critical functions, including setting the parameters for data management and usage, creating processes for resolving data issues, and enabling business users to make informed decisions based on high-quality data and well-managed information assets. Often, however, large financial organisations face the challenge of non-standardised and in some cases, sub-par data management techniques, with heterogeneous systems used across the organisation.

As experts in data and the financial services industry, Monocle is highly skilled in data governance and management best practices and has extensive experience in the consolidation of data management functions into a standardised technology suite to best serve data owners at an enterprise level. This includes the design and development of centralised data warehousing functions, standardised data management techniques (metadata, quality, and security), and the implementation of robust data ownership and stewardship rules. Ultimately, a well-designed and efficient data governance and management structure allows an organisation and its divisions to increase business opportunities through timely and accurate data insights, as well as reducing the cost of inefficient and disparate data management systems across the organisation, all whilst meeting the necessary regulatory standards.

Monocle has focused on data governance and management for over a decade, but it has become an ever-more relevant area in the world today in which data is displaying its supremacy as a critical source of competitive advantage.