In an era where data drives strategic decision-making, data governance and the quality of that data become increasingly vital. Building a business case for data governance can bring a number of enterprise-wide benefits, especially in sectors like banking and financial services, where the risk-focused mindset can sometimes overshadow the potential to become data-driven.
However, when it comes to winning buy-in internally, it can be a challenge to communicate the value of investing in a data governance and analytics programme.
The success of a data governance programme isn’t just influenced by the deployment of advanced technologies or methodologies. It’s also determined by fostering an organisational culture that fundamentally prioritises data governance. Often referred to as ‘data literacy’, this focus on encouraging a data-driven culture helps ensure that better data management efforts aren’t just adopted, but kept up over time. Consequently, this can lead to improved data quality, better adherence to rules, and smarter decision-making across the company.
In a recent roundtable in London with some of our customers, we gained first-hand insight into how they are tackling the challenge of fostering a company culture that values data governance. As thought leaders in their fields, we thought we’d share some of their insights.
Tips from our customers on how to win buy-in
Here are four ways that our customers are cultivating a company culture that prioritises data governance across financial services and public sector organisations.
- Start with data quality: Our customers agreed that this is one of the most impactful steps. Data quality is the foundation, ensuring consistency and accuracy across the organisation’s data landscape, which is essential for any governance and analytics programme to succeed. In effect, this step helps make the benefits of data governance more apparent and relatable to all employees, as stakeholders see how data quality can enhance decision-making, reduce errors, and streamline processes.
- Highlight success stories: When trying to gain buy-in internally, it’s important to be able to create a compelling story that your key stakeholders can relate to. Success can look different depending on every organisation and it’s important to shout about the wins, big or small. For one organisation, having proper data governance can drive efficiencies and profits. For another, it could result in more lives saved. Real-life examples of how improved data governance has led to better outcomes can be an excellent motivator for change.
- Use positive language: The way data analytics and governance are talked about has the power to influence key stakeholders. This can be as simple as talking about the opportunities and benefits of having a robust data governance programme, instead of framing it as something that’s necessary to comply with regulations.
- Tap into the human side of data governance: It’s normal for people to resist change. To deal with this effectively, try to identify some of the areas of frustration felt by other teams across the organisation. Start by asking about their daily work challenges. Oftentimes, these challenges are caused by underlying problems with data quality. Understanding this helps convince them of the value of investing more in data governance to make their day-to-day jobs easier. Our customers also commented on the value of having good interpersonal skills to work effectively with stakeholders and deal with push-back.
Maintaining a successful data governance programme
Once these initial steps have been taken, continue the conversation through ongoing education and training. Offering workshops, seminars, and online courses can help demystify data governance and analytics, making it more accessible across the business.
Another way to sustain an enterprise data governance programme is by leveraging technology. Implementing user-friendly, no-code tools and platforms is a great way of democratising data governance and making it more accessible across the business. With AI, these tools can automate mundane tasks, extract valuable insights from the data, and ensure data accuracy, making it easier to encourage a company-wide culture that values data governance.
Conclusion
Fostering a company culture that values data governance is a multifaceted process. Some of the ways our clients are achieving buy-in include starting with data quality, leveraging the power of storytelling, providing continuous education, and embracing data management technologies. By focusing on these areas, organisations can ensure that their data governance efforts are not just a compliance requirement, but a strategic advantage that drives better decision-making and operational efficiency.
How Datactics can help
Looking for advice on how to build a business case for data governance within your organisation? This is something we’ve done for our clients.
We have developed Datactics Catalyst, our professional services offering, to deliver practical support in your data strategy.
From augmenting your data team to working on specific data projects, delivering training or providing a short-term specialist to solve a specific data quality problem, let Datactics Catalyst accelerate your ambitions, help you increase data literacy and foster a data-driven culture.
Have a look at our Catalyst page to find out more: www.datactics.com/
