How to choose the most appropriate metrics to measure the business impact of Information Governance? Key performance indicators (KPIs) have three crucial characteristics. They should be effective, sustainable, and fit for communicating the system’s business value.
How to choose value metrics
For example, it is better to focus the reporting activity on a limited number of indicators. At the same time, the latter should be simple to represent. One should also pay attention to the consistency between the different metrics and engage the stakeholders, thus creating a shared system and a formalized process.
In fact, according to Gartner, Information Governance is the “specification of decision rights and an accountability framework to ensure appropriate behavior in the valuation, creation, storage, use, archiving and deletion of information”. Thus, it includes all the roles, processes, rules, standards, and policies that make it possible to pursue the business goals (also) to the company’s data assets.
Metadata provides a more complete vision
In highly regulated fields such as the financial sector, most banking and insurance institutions have already adopted metrics for Data Quality. The next step will be to broaden this perspective and get a more comprehensive view of the business value of the data. But how to do it? By creating KPIs from metadata already available in the company: from data quality to its ownership, from Data Lineage to semantics, not to forget data protection and security.
Four types of KPIs: data-intensive and governance
The white paper by Mauro Tuvo (Principal Advisor at Irion) and Egle Romagnolli (Head of Marketing at Irion) proposes a simple dashboard resulting from years of experience in many different business contexts. It helps to optimally organize the Information Governance metrics, suggesting four homogeneous categories:
- Intrinsic data quality indicators.
- Data-intensive process performance indicators
- System governance indicators
- Other event monitoring indicators
Why choose Irion?
Irion EDM® is a modular flexible Enterprise Data Management system. The platform has all the necessary features for calculating the essential Information Governance system monitoring indicators. Plus, it bases on the experience our consultants gained in multiple projects.
The solution can be customized to respond to your business goals in the most optimal way. At the same time, it offers some preset features to support the implementation and successive evolution of the measurement system. Irion EDM® offers:
- hundreds of connectors to a whole range of data structures and application systems, whether they are dated or ultramodern, structured and non-structured, on-premise or multi-cloud;
- a specialized module to define, evaluate and analyze any type of indicator on any business process;
- R and Python integrated into the platform for advanced analysis (AI/ML);
- a centralized dictionary with measures, indicators and related metadata;
- a flexible, collaborative Data Quality Governance system with powerful engines that run 2.5 million controls per minute verifying over 60 million records;
- a collaborative system that allows several teams to work simultaneously on the same project. It is designed for use by IT technicians, data analysts, data officers with special features for different roles so they can share, version, activate the metrics chosen depending on the role. And much more!..
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