Struggling with data governance program
A multi-line, global insurance company was struggling to gain traction with their data governance program. With little business engagement or executive support their program was mired in tedious, time-consuming work, all done inconsistently across business units, making data hard to use and reuse.
Wavestone's mission and benefits
Wavestone was brought in to conceptualize and design a practical implementation plan for Data Governance. We developed a Global Data Governance framework, business case, operating model, and roadmaps, as well as updated data policies, standards and processes, and a Change Management plan to promote engagement.
The result was a successful shift to a business-led program that effectively protected data assets and delivered easily discoverable and reusable data assets enabling more business value.
Wavestone's vision and value
Today, organizations understand that data is the lifeblood of their organization and competitors. To successfully compete good timely insights and data are required. Without data there is no digital transformation enabling enhanced customer interactions or delivering competitive advantages. And, without data business operations and compliance with regulatory requirements isn’t possible. And without data there are no analytics or effective Artificial Intelligence (AI) capabilities delivering new insights and innovation to drive new revenue or deliver new services and products.
Business success requires data that is well defined, discoverable, and protected. To do this consistently and effectively an organization must have a comprehensive data governance capability. Unfortunately, most organizations find this challenging to do well.
At Wavestone, we believe that data governance is a critical operational capability that enables organizations to develop and maintain high-quality data that is both secure and readily available to support business operations, deliver deeper business insights, and business value.
Successful organizations establish strong data governance programs to ensure data is protected and able to deliver business value. Data Governance should create a centralized framework to provide a mechanism to deliver consistent and timely data, which is protected, and well-positioned to deliver business value.
Effective Data Governance programs enable:
- Delivery of high-value data to support business operations, analytics, and insights
- Compliance with regulatory, privacy, and contractual requirements
- Protection of Data with proper security, access, and usage controls
- Enhanced data literacy to enable more business users to engage and leverage data
- Scalability through reuse and consistency
- Advanced analytics and AI to make timely, effective decisions and actions
Whether you need a new governance program, simply need to better engage key stakeholders, or refresh and realign your data governance capabilities, Wavestone’s approach begins with understanding your business needs and focus, assessing your current state strengths and gaps relative to meeting those needs, and then define a go-forward target state, strategy, and roadmap to help you manage and govern your data while delivering business value incrementally.
Our best practice experience, combined with our iterative, collaborative approach, helps identify the balance point needed to protect your data while delivering business value, accelerates development of critical capabilities, as well as implementation, and adoption of your data governance program.
Deliverables are tailored to best meet your needs, a few examples include:
- Best Practice Assessment
- Critical Focus Area Prioritization
- Tailored Governance | Enablement Framework
- Target State Operating Model
- Business Case and Strategic Roadmap
- Adoption and Change Management Recommendations
- Implementation Support
Wavestone is uniquely positioned to help you through your journey by providing a wide range of services:
Benefits:
- Quick alignment on business needs and high-priority focus areas
- Rapid assessment and feedback based on industry best practices
- Practical insights and recommendations founded on real-world experience
- Business-outcome-focused roadmap and action plans
- Access to expert, independent, and outside-the-four-walls perspective
