Practical Guide to Data Asset Ownership (2024)

Through the inventory of data resources, the business ownership and responsibility of each type of data resource are clarified, which is helpful to better control and maintain data in the subsequent data governance process, help enterprises find out the background of data resources, understand, identify, manage and use data, and effectively promote the internal sharing and application of data resources and external transactions.

The value of data resource inventory is mainly reflected in the following aspects: (1) Optimize resource allocation. Through data resource inventory, enterprises can clearly understand the distribution and use of data resources, so as to allocate hardware, software and Page 11 human resources more reasonably to avoid waste of resources.

(2) Improve data quality. Data resource inventory can help identify and solve data quality problems, improve the accuracy, completeness, and consistency of data, enhance the credibility of data, and improve the accuracy of data analysis and mining. (3) Strengthen data governance. Data resource inventory is an important part of data governance, through which enterprises can establish data catalogs, formulate data standards, and standardize data management processes, thereby enhancing the efficiency and effectiveness of data governance.

(4) Promote the application of data. A clear data resource graph and a high-quality data inventory can help enterprises make better use of data and drive data-driven decision-making and business innovation. By digging deeper and analyzing data, we can help companies discover new business opportunities and growth points. (5) Improve data security and compliance. Through data resource inventory, enterprises can identify sensitive data and business-critical data, and then formulate stricter data security policies and protection measures to ensure data security and compliance.

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Practical Guide to Data Asset Ownership (2024)