{"id":14082,"date":"2019-11-28T08:33:57","date_gmt":"2019-11-28T08:33:57","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14082"},"modified":"2019-11-28T08:33:57","modified_gmt":"2019-11-28T08:33:57","slug":"good-data-governance-is-just-as-important-as-having-good-data","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/good-data-governance-is-just-as-important-as-having-good-data\/","title":{"rendered":"Good data governance is just as important as having good data"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Data now rules our lives. But when data is of poor quality and\/or not handled properly, both businesses and consumers can suffer. This makes good data governance of the utmost importance for financial institutions. Ultimately, good data governance should have the goal of achieving and maintaining coherence and consistency across all data assets. To accomplish this, financial institutions should:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Assess all the data types they use, with an eye toward building a quality assessment, management and monitoring system that collects, stores, secures and utilizes all data appropriately<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Assess potential data management systems, given consideration not just to the data but also to data users and their reasons for needing the data<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Adopt an institutional culture of good data governance that understands the importance of data<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Evaluate data and data systems regularly to ensure data (and its processing mechanism) retains its value<\/span><\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14082 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='3 ways for financial institutions to shift their focus to consumer value'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/3-ways-for-financial-institutions-to-shift-their-focus-to-consumer-value\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/06\/3-ways-for-financial-institutions-to-shift-their-focus-to-consumer-value-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13126\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13126'>\n\t\t\t\t3 ways for financial institutions to shift their focus to consumer value\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Digitizing Russia\u2019s data for better public services'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/digitizing-russia-s-data-for-better-public-services\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/10\/digitizing-russia-s-data-for-better-public-services-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13891\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13891'>\n\t\t\t\tDigitizing Russia\u2019s data for better public services\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='What China can teach the world about digital transformation'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/what-china-can-teach-the-world-about-digital-transformation\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/12\/1016-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14253\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14253'>\n\t\t\t\tWhat China can teach the world about digital transformation\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Data now rules our lives. But when data is of poor quality and\/or not handled properly, both businesses and consumers can suffer. This makes good data governance of the utmost importance for financial institutions. Ultimately, good data governance should have the goal of achieving and maintaining coherence and consistency across all data assets. To accomplish &hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[197],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14082"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14082"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14082\/revisions"}],"predecessor-version":[{"id":14083,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14082\/revisions\/14083"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}