The Data Asset: How Smart Companies Govern Their Data for Business Success

CHAPTER 1

Making the Case for Better Data

The whole is more than the sum of its parts.

—ARISTOTLE (384-322 B.C.), PHILOSOPHER

EXECUTIVE OVERVIEW

One of the biggest mistakes that organizations make is to approach data as a technology asset. It is not. It is a corporate asset and needs to be treated and funded as a corporate asset. Justification for data management projects lies in the ability to create a business plan based on the benefit to an organization. Executives want to know how a data management initiative will enhance the business. To do this, any attempt to improve your organization must emphasize these benefits:

• Risk mitigation

• Revenue optimization

• Cost control

Building the business case is the first and most important step.

REMEMBER

1. Data quality and data governance should never be considered a one-time project. A quality culture must be established as an ongoing, continuous process.

2. No organization can tackle enterprisewide data quality and data governance all at once. To be successful, your journey must be evolutionary. Start small and take achievable steps that can be measured along the way.

Many organizations find that they cannot rely on the information that serves as the very foundation of their business. Unreliable data—whether about customers, products, or suppliers—hinders understanding and hurts the bottom line. It seems a rather simple concept: Better ...