list of the most significant tools of the 21st century
“Companies have tons and tons of data, but success isn’t about data collection, it’s about data management and insight.”–Prashant Southekal (Business analytics author, professor)
Data governance tool is a tool that helps organisations in creating and maintaining a structured set of policies, procedures and protocols that manages an organisation’s data in storing, using and controlling.
The main aim behind data governance tool is to create policies that include ownership roles, delegations, and policies of data which in fact passes through the decision of stakeholders and different department of the organisation. Data governance enables consistent and confident decision making based on trustworthy reports of data, analytics and assets.
STEPS IN DEVELOPING DATA GOVERNANCE TOOL FRAMEWORK
- Figuring out the mission; address at this stage the marketing goals, budget allocation and define your mission statement.
- Defining the success metrics; determine and set your metrics before the creation of the framework.
- Identifying data assets; identify various access places where the data is getting entered or is leaving. Also having detailed information about the data itself, would be quite handy at this step.
- Creating data rules and definitions; this step involves getting inputs from employees from various different departments, such as top level managers and executives, sales team, legal team, IT administrators and develops team, etc. to make new rules and policies.
- Assigning data rights and ownership; once the rules are being created, the next step would be to assign the data asset to a specified owner. This owner has control and ownership over the piece; therefore he/she must go through it as they will be accountable for any further changes in the given framework.
- Formulating control mechanisms; control mechanisms create, maintain and delete various data assets to ensure consistency across the system.
- Creating roles; at this step data access and control get allocated among different employees with respect to their roles in the organisation.
- Creating knowledge transfer and training programs; once the roles and responsibilities associated with the rules is provided, and then the training of each department from customer facing team to programming teams must be conducted regarding data governance policies to ensure proper functioning of the data standards.
TOP 5 DATA GOVERNANCE TOOLS OF THE 21ST CENTURY
1. ASG TECHNOLOGIES; ASG Technologies’ Enterprise Data Intelligence (ASG DI) is a platform for meta-driven data that provides a 360 degree view of the entire data. Its main features include data cataloguing, data management, data ownership and stewardship capabilities, self-service, visualization, Data lineage, compliance audit readiness and so on. Its DI tool interface has a learning curve and deployment isn’t quite easy with adverse climate conditions. Its price is quite reasonable.
2. ATACCAMA; it is a self-driven data management and governance platform. It renders AI-driven automated capabilities to make the work of data management smooth and easy to operate. Its main features incudes data cataloguing, data management, metadata management, data policy management, Flexibility and compatibility and so on. The only adverse complicated issue comes with this tool is that it lacks intuitive visualisation department, but it expected to improve soon with better features. The company offers a month free trial and its price is available on request.
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3. COLLIBRA; it is an enterprise-directed data governance platform which is known for its automated data governance and management provider. Its main features include data cataloguing, Meta management, visualization, data lineage, data ownership and stewardship capabilities, etc. users often report flexibility and neatly customised services. Deployment is reported to be difficult, but technical support is always available. The company offers a free demo and its price are available on request.
4. ERWIN BY QUEST SOFTWARE; just like COLLIBRA, Erwin by quest software program offers almost the same collection of products in use that can drive data governance frameworks. It provides Erwin data modeller, data intelligence, data catalogue, smart data connectors and data literacy. It includes the same features such as compliance audit readiness, data policy management, visualization, data cataloguing, data lineage, and self-service. It has been reported by customers and users that its interface is not that intuitive. This tool is very affordable with a price available on request. The company also offers a free-trial.
5. IBM; this is the most established useable tool in the market. It offers flexibility of supporting in various data governance frameworks. Its main features include, data cataloguing, data management, self-service, visualization, data lineage, business glossary, flexibility and compatibility, PHI and GDPR compliance audit readiness and data management policy. Its catalogue is easy to use and to navigate through whereas it’s there is some difficulty in integration of third-party solutions. For individual deployment the prices may vary.