Tag: Data Governance
5 Reasons You Need a Data Strategy in 2024
Studies reveal a shocking truth – less than 50% of structured data and a mere 1% of unstructured data are actively used for decision-making. Over 70% of employees have access to unauthorized data, posing a significant security risk. Also, 80% of analysts’ time is wasted on simply finding and preparing data for analysis. Well, a […]
Components Every Data Strategy Should Have: The Blueprint for Success
Introduction The right data strategy for businesses today is not just a roadmap—it’s the engine propelling organizations toward success. This article explores the vital components that compose a stellar data strategy, providing a blueprint for navigating the complexities of the data-driven world. Definition of Data Strategy Let’s start with the fundamentals. What exactly is […]
Master Data Governance in Banking: Benefits, Implementation, Challenges, and Proven Practices
Introduction In banking, where every transaction and decision depends on data, controlling how we handle that data is critical. Hence, data governance in banking is an essential aspect of focus. Data governance in banking means handling financial data responsibly. It involves creating processes, rules, and controls to keep data accurate and secure. This article explores […]
The Power of BI in the Cloud: A Comprehensive Guide
Introduction Business Intelligence (BI) plays a crucial role. It helps examine through data, draw insights, and make smart decisions. However, as data becomes more extensive and intricate, the need for a scalable, flexible, and cost-effective BI solution grows. Enter cloud computing. Cloud-based BI comes with remarkable advantages like swift deployment, lower maintenance, enhanced performance, and […]