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How to deal with data governance in the company and not die trying

Spanish companies continue their path towards the digital transformation of their businesses, increasing the use of emerging technologies such as artificial intelligence, data analysis, cloud computing and the Internet of things. Regarding Big Data, 11% of companies reveal that they analyze large amounts of data, according to the study ‘Use of digital technologies by companies in Spain 2022’ carried out by the National Observatory of Technology and Society.

While data collection and analysis strategies have been part of the digitalization processes of companies for several years, there are still many organizations, especially SMEs, that remain in the initial phase regarding data management and, above all, everything, in terms of extracting its value. Effective data management can help companies save time, money, and avoid errors by automating processes. Most of the information that a company possesses is made up of unstructured data, something that presents a challenge for the teams responsible for IT strategies when it comes to working with it and optimizing its value.

Data intelligence in the company

A good data strategy allows the company to establish Business Analytics processes, thanks to which better decisions can be made based on facts, it is possible to optimize internal processes and facilitate the preparation of reports and reports for all departments.

This should not be considered as a minor issue, since one of the main internal challenges that companies have, especially when it comes to small or medium-sized companies without well-defined internal processes, is that each department or profile has access to the necessary data. to develop their work and draw the necessary conclusions. With the right information in the right place, every department will have the ability to effectively analyze past events. If the use of Machine Learning with the combination of multiple variables is added to this, it is possible to turn data analysis into a predictive analytics process that provides future forecasts, feeding business objectives and enabling each department to take your business strategies one step further.

The best strategy to govern data

Investment in Big Data solutions or business analytics that allow companies to analyze data is constantly growing. In fact, according to IDC, this investment has grown 7% since 2020 and is expected to increase to 11% by 2025.

When addressing how to implement these solutions, it is necessary to propose a Data Governance solution as the central axis in the adoption of a strategy data driven for the company. This type of solution supports information, helps orchestrate assets throughout their life cycle, and maximizes their value.

Adopting a data governance solution provides multiple advantages and allows companies to take another step in their digital transformation process. When a company cannot trust the integrity, consistency and reliability of its information, it is forced to continually consult and verify its decisions based on its internal intelligence. The use of a Data Governance solution offers a holistic approach to all business information (where it comes from, classification, usefulness, security, access, etc.) that supports decision-making based on trust. On the other hand, it also addresses the lack of control over the origin of the data and its interpretation, allowing the efficient definition of internal data management processes. This enables classification and review of data as it comes in so that responsible teams can then manage data integrity, security, usability, and availability.

In addition, it improves accessibility to data in different locations. The transfer of information to different types of cloud is already a widely extended process in all types of companies. A data governance solution allows you to examine and classify data from different sources, whether on-premises, multi-cloud or SaaS. And, last but not least, it protects sensitive data throughout its life cycle, complying with current regulations and standards and allowing safe and anonymous use of information and only accessible to whom it corresponds, something that is essential today in day.

In fact, this trend will not stop increasing in the coming years. IDC forecasts that by 2025, 55% of companies will have migrated their data protection systems to the cloud to centrally manage data protection.

A must for all organizations

There is a tendency to think that those that are not large companies have more difficulties from the outset in adopting advanced solutions to manage their data and implement Business Analytics processes, but it is precisely this type of company that is most exposed to a loss in efficiency due to to inefficient internal processes or inappropriate use of your data.

That is why having a trusted technology partner, who knows the technologies and business needs of companies, can mean a before and after in how they develop their data governance strategy and, with it, their journey. towards an essential digitization today. To choose the right partner, it is essential to bet on teams that have experience in data and analytics solutions, that provide the necessary advice to define truly effective strategies adapted to the needs of each company and have the best technologies to take advantage of all the power of the data.

Signed: Antonio Soto, Verne Tech Director at Verne Technology Group

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