Data Governance Matters

In recent posts, Reese Thomas and Tom Jesionowski, who sometimes share this space with me, make some good points about situations where strong data governance have aided organizations during the current financical crisis — and how inadequate practices have left others vulnerable.

Their discussion makes me think (for the hundredth time this past month) about things I wish I’d said more strongly. more loudly, more forcefully to corporate executives this past year.

Here’s what I wish I’d said in a way that everyone understood:

If you’re going to make critical business decisions based on information, then you’d better understand how ”fit for use” that information is. You should DEMAND good answers to 3 questions:
 
1. Do I know and trust the source of this data (that I’m using to make critical decisions)
2. Does the data mean exactly what everyone thinks it means?
3. Is the data “good enough” for what I’m using it for?

If you don’t have good answers to these questions, then you’re making decisions based on assumptions. So, if you still have decisions to make, then ask these questions. Demand answers. Don’t get distracted by the fact that answers may rely on complicated technology-centric efforts. Instead, maintain focus. Recognize where assumptions lie, and let your data management folks help you convert those assumptions to actionable knowledge.