What do we mean by value? Assets have value. So logically we should be able to agree the value of that asset. Respected metrics to do are understood for finance, people and buildings. These metrics provide some of the framework to manage assets both in terms of their cost to an organisation, and the way that value is demonstrated – be that quantitively and quantitatively. The data asset fails to ascribe to any of those criteria! There's no industry standard or accredited approaches to assessing that value, nor a universal benchmark to cost it. This does raise the question of [...]
After the success of this conference, HESPA asked if I could summarise the key points and issues raised. Posting this reminds me I promised two further articles on ‘Valuing the data asset’ and ‘Skills needed for successful Data Governance’. Coming soon, watch this space! HESPA Data Governance Conference review It's hard to know how colleagues will respond after being shown a picture of a car driving into a lake! For context this was a metaphor for 'consequences of bad data' when considering that data 'as the GPS for your strategy'. The theme for the day was the practical application of [...]
After my last post on ‘How to make the Data Governance business case’, I’ve had requests to share the full slide deck from the event this post originated from. These cover - briefly - the whole data journey plotted out in the schematic above. You can download them below. This was from my session at the excellent HESPA (Higher Education Strategic Planners Association) Data Governance 1 day conference on September 28th, 2019. The next post will be on ‘how to value the data asset’. If you have questions or comments, please do get in touch.
As my colleague, and fellow data professional Nicola Askham, wrote in her last blog. it can be a ‘real struggle to get your data governance initiative approved in the first place’. She sets out the reasons why, and recommendations on how to overcome them. In this post, I’m going to dive into the detail of how to frame the benefits and risks within that business case. These have been developed over many years of creating signature ready business cases as part of a wider Data Governance initiative or programme. What are the benefit and risks that make the case? Every organisation [...]