Lead your organisation to access, use and share data as an asset

The importance of data governance

More than ever, directors need to understand how an organisation’s data management efforts can affect and influence its reputation and future success. Data creation and use is growing exponentially, and expectations from customers and partners are changing. People want to know that the data organisations use is credible, from a trustworthy source, and will be used responsibly. They also want to know that organisations have the skills, policies and processes in place to be able to handle this data responsibly.

Decision-making at board level can easily be skewed by poor data or poor data practices. The companies doing well understand the value of their data assets and are looking after them through data governance.

Data governance sets the direction and decision-making processes that will guide the management of data, who is accountable for each activity and how that will be monitored. Too often, data governance tends to take the back seat in the boardroom, as senior leaders are not always sufficiently aware of what is required. There’s either too much reliance on these matters being dealt with at an operational level and too little structure to support technical teams with issues like data quality, or an over-analysis of data which can cause operational paralysis.

At the Institute of Directors (IoD), our key message is that directors have to set the tone at the top. To do this in relation to data governance, directors need to understand how their responsibilities are evolving so they can provide leadership to manage risks and maximise opportunities from the data their organisation is collecting, using and sharing.

Data is an asset, and when supported by robust data governance principles, it has the potential to unlock significant value for organisations. Organisations need to determine the type of data they hold, the data management practices and technical capabilities they need, but also view data as ‘the business’ rather than merely an IT matter. Customised training for directors is one way to help with this cultural shift.

Data governance masterclass

In response to the growing demand for professional development on data governance at board level, the ODI and the IoD will be running a data governance masterclass.

The goal of this one-day course is to help directors get to grips with data governance, so that they can lead their organisations to collect, use and share data as an asset. Using case studies and real-world examples, delegates will examine approaches to managing data as an asset, identify what directors and board should know about data governance frameworks, and apply such a framework to their own context. Delegates will leave with their own action plan to lead the approach to data governance for their organisation.

Dates:

• Wednesday 22nd June
• Thursday 21st July
• Wednesday 14th September
• Tuesday 15th November