Data Control: 3 Things to Know for Your Business Enterprise
Now more than ever, Data is the lifeblood of any modern business. Why? Because often, it means things like valuable insights, optimized processes, innovative products and services, etc. Unfortunately, data also means dealing with challenges and risks and it’s why tools like Enterprise LLM are in such high demand.
So, you want to have a working understanding of data control. Then are 3 effects to get you started.
Data Governance Framework
Establishing a data governance framework is crucial if you want to be absolutely certain that data is managed consistently and responsibly because it means a structure for decision-making, a definition of data ownership, and an alignment of data management with business objectives.
You want to:
- Determine who within the organization is responsible for different aspects of data
- Develop clear policies outlining how data is handled, stored, and shared
- Assign data stewards to oversee and enforce data policies
- Keep the framework dynamic if you want to adapt to changing business needs and regulations
For example, in a healthcare enterprise, the data governance framework could designate the Chief Medical Officer as the data owner, establish policies on patient data privacy, and assign nurses as data stewards responsible for ensuring accurate and secure patient records.
Of course, security measures are non-negotiable if you’re going to protect sensitive data from unauthorized access and optimize data integrity, confidentiality, and compliance with data protection regulations.
You want to:
- Implement encryption for data both in transit and at rest to safeguard it from potential breaches
- Define and enforce access levels based on job roles to restrict unauthorized users
- Conduct periodic security checkups to identify vulnerabilities and address them instantly
- Educate employees on security best practices if you want to mitigate human errors
For example, in a financial institution, sensitive customer financial data can be encrypted during transactions, access to financial records can be restricted to authorized personnel only, and regular security audits can be conducted to ensure compliance with industry regulations.
Data Quality Management
A huge use of data is as information and insight for decisions and so you want high data quality if you’re going to make business decisions that ultimately enhance operational efficiency, and maintain customer trust.
You want to:
- Analyze and understand the current state of data to identify issues and areas for improvement
- Implement processes to standardize data formats and eliminate errors
- Set up systems to monitor data quality in real time and address issues promptly
- Assign responsibility for data quality to specific individuals or teams
For example, in a retail enterprise, accurate product information is crucial and so data quality management means regularly reviewing and updating product details, eliminating duplicate entries, and ensuring consistency in product specifications across various databases. Really, data control is not just about ticking boxes. Still, a solid governance framework, putting up some strong security walls, and making sure its quality is top-notch is a good place to start.