Across most organizations and all industries, data is exploding at an exponential rate, and CIOs are being tasked with making sense of all this information. This is what’s keeping many CIOs up at night. The result, as Gary Orenstein notes in a recent post, is thatwe’re in the midst of a data mining renaissance. But, before businesses can make sense of the data and start using it smartly to deliver business value, there lies the problem of managing and consolidating the data being transmitted throughout their organizations.
Like the foundation of a house, a company’s data infrastructure should be underpinned by reliable data and sound data governance. Governance standards provide the rules for structuring information, so the data can be reliably and consistently read, sorted, indexed, retrieved and, most importantly, trusted by the end user. Like the saying goes, “garbage in, garbage out.” But, in many organizations, sound data governance is severely lacking. And, in the absence of effective governance standards, many companies are grappling with data inconsistencies.
As always, data is being processed in data processing systems and extracted into analytics repositories.