How does Data Stewardship work?
In the digital age, data is more important than ever before. Businesses that can effectively manage their data have a significant advantage over their competitors. Data stewardship is the practice of ensuring that data is accurate, accessible, and secure. It is an essential part of any data governance program.
What is data stewardship?
Data stewardship is the responsibility of ensuring that data is accurate, accessible, and secure. It is an ongoing process that involves identifying, collecting, managing, and protecting data. Data stewards are responsible for:
According to a study by Gartner, 70% of organizations have experienced data quality issues.
How does data stewardship work?
Data stewardship is a complex process that involves many different steps. The following is a high-level overview of how data stewardship works:
Identify the data
The first step is to identify all of the data that is used by the organization. This includes both structured and unstructured data.
Collect the data
Once the data has been identified, it needs to be collected. This can be done through a variety of methods, such as surveys, interviews, and data mining.
Manage the data
Once the data has been collected, it needs to be managed. This includes tasks such as cleaning the data, ensuring data quality, and storing the data securely.
Communicate with data users
The data stewards need to communicate with the data users to ensure that they understand the data governance framework and how to use the data effectively.
Protect the data
The data needs to be protected from unauthorized access, use, or disclosure. This can be done through a variety of security measures, such as firewalls, encryption, and access controls.
The average cost of a data breach is $3.92 million.
Challenges of Data Stewardship
Data stewardship can be a challenging task, as it requires a deep understanding of the organization's data assets and the data quality standards that need to be met. Additionally, data stewards need to have strong communication and collaboration skills to work effectively with stakeholders.
Organizations that implement data governance can reduce data risk by up to 50%.
How CAARMO Can Help
CAARMO is a data governance platform that can help organizations implement data stewardship. CAARMO provides a number of features that can help data stewards automate tasks, track data quality, and collaborate with stakeholders.
If you are interested in learning more about data stewardship or how CAARMO can help, please contact us today.
Conclusion
Data stewardship is an essential practice for ensuring the accuracy, consistency, and accessibility of an organization's data. By implementing data stewardship, organizations can improve data quality, reduce data risk, and make better decisions.