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Discover business intelligence with professional data management.

Benefit from our experience and expert knowledge! With online seminars for self-study, eLearning courses and training solutions on current industry topics, you will become an expert in the world of data. We will gladly provide you with the know-how you need to know on the current topic of data governance & data management!

No one should be blind to data provenance, deaf to data quality, and tongue-tied to data architecture. And for this, knowledge of data management and data ethics is imperative.

With our technical expertise, we help our customers to set up, implement and control IT and specialist projects, regardless of whether they are transformation or implementation projects. Benefit from our knowledge!
CEO Helene Stargardt Staperior Consulting GmbH

CEO Helene Stargardt Staperior Consulting GmbH

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Our eLearning for your professional data management

small academy. clear focus.

eLearning

Data Management in Enterprises:

Fundamentals, Concepts and Challenges in Practice

On-Demand

5 Hours

Certificate

German

Our Data Management Fundamentals eLearning gives you an up-to-date overview of the world of data and the basic understanding of data management.

Our goal is to achieve the fluency among both employees and executives that is necessary to develop, implement and operate effective Data Management in the enterprise. Thus, the company can derive MORE VALUE from data and accelerate digital transformation.

More about eLearning

What is data governance?

Data governance is more than just improving data quality. It is about company-wide management of data – as a company resource, that is, participation in technical and IT-strategic implementations, introduction and enforcement of “best practices” including standardized data models, definitions, rules and business processes.

Why data governance at all?

Data governance is the prerequisite for data compliance. In view of the rapidly increasing global data volumes, data governance is therefore indispensable for companies – especially in the financial sector.

Data related issues as one of the major risks of 2019

Consulting firm Gartner named data-related issues as one of the top 2019 internal audit risks in 2018. As a result, the top data and analytics risks affecting audit leaders in 2019 are new privacy regulations and data breaches.

Where are the dangers lurking in finance?

The financial sector in particular has been revolutionized by digitization. The risk begins when salaries don’t get to the accounts where they belong and ends in a global financial crisis like the 2008 when credit risks are not properly assessed by millions of Americans buying real estate.

The most important facts about data governance

Get the document now with the answers to the 14 most important questions about data governance in the financial sector. The topics covered include the following:

What is data governance?

Data governance is the set of responsibilities and decision-making processes for the quality-oriented management of data. According to this definition, the object of data governance is more than just improving data quality. It is about enterprise-wide management of data – as a corporate resource, i.e. participation in business and IT strategic implementations, introduction and enforcement of best practices including standardized data models, definitions, rules and business processes.

Why do you need data governance?

The amount of global data is growing rapidly. In 2018, the global data stock was around 33 zettabytes. In 2025, it will be 175 zettabytes. Every company collects data incessantly in order to work more effectively and to be able to address customers individually. To avoid drowning in a data tsunami, it must be clear what data is available in what quality, in what form, and in which parts of the company, how it is processed, and by whom it is used and for what purpose. Only then can this treasure be used to its full extent. In addition, the handling of data must comply with current legal regulations. Data governance is the prerequisite for data compliance.

Is data governance just a business issue?

Not at all. Digitization and data governance are core issues for policymakers. The handling of data, its valuation and the question of ownership have not yet been negotiated internationally and are urgently needed, said German Chancellor Angela Merkel at the latest World Economic Forum in Davos on January 23, 2019. A new global order for this is still pending, she said, calling for a global architecture, including for data governance. Japan wants to make data governance a core topic of the upcoming G20 debates.

Where do the dangers lurk in the financial sector?

The financial sector in particular has been revolutionized by digitalization like no other industry: transactions take place in fractions of a second, and huge amounts of money are moved on the basis of data. In this respect: The risk starts with salaries not arriving in the accounts where they belong, and ends with a global financial crisis like the one in 2008, because credit risks of millions of Americans were not correctly assessed when buying real estate.

What are the biggest risks in handling data?

Gartner, another renowned research and advisory firm in the IT space, cites data-related issues as one of the top 2019 risks for internal audit in its Nov. 15, 2018, Hot Spots report. “Cybersecurity, data governance, third-party vendors and data privacy top the list of risks,” says Malcolm Murray, VP, team manager at Gartner. The top data and analytics risks affecting audit executives in 2019 are new privacy regulations and data breaches, according to Murray. Although data-driven business strategies are needed to increase efficiency and competitiveness, only 37 percent of organizations had formal data management frameworks in place, according to Gartner.

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