I’m working for a federal company where we deal with a lot of data related to people’s financial background and we will be monitoring financial trends and risks involved in mortgages.
Information governance (I G) has emerged as a key concern for business executives and managers in today’s environment of Big Data, increasing information risks, colossal leaks, and greater compliance and legal demands.
I G is a super-discipline that includes components of several key fields law, records management, information technology (IT), risk management, privacy and security, and business operations.
Based on my understanding Information Governance are nothing but the specification of decision rights and an accountability framework to ensure appropriate behaviour in the valuation, creation, storage, use, archiving and deletion of information.
It includes the processes, roles and policies, standards and metrics that ensure the effective and efficient use of information in enabling an organisation to achieve its goals.
Corporate governance is the highest level of governance of an organisation and includes the articles of incorporation, bylaws, shareholder agreements, policies and procedures used to manage the relationship of the organisation with its stakeholders.
IT governance is the primary way that stakeholders can ensure that investments in IT create business value and contribute to meet business objectives. This strategic alignment of IT with the business is challenging yet essential. IT governance programs go further and aim to elevate IT performance and deliver optimum business value while meeting regulatory compliance demands.
Several IT governance frameworks can be used as a guide to implementing an IT governance program. Although frameworks and guidance like CobiT, ITIL, ValIT, and ISO 38500 have been widely adopted, there is no absolute standard IT governance framework.
Information Governance processes are higher level than the details of IT governance and much higher than data governance, but both data and IT governance can be (and should be) a part of an overall Information Governance program.
Data governance focuses on information quality from the ground up at the lowest or root level, so that subsequent reports, analyses, and conclusions are based on clean, reliable, trusted data in database tables.
Data governance involves processes and controls to ensure that information at the data level—raw alphanumeric characters that the organisation is gathering and inputting—is true and accurate, and unique, A data governance program should be a part of an IT governance program and an overall I G program.
Organisations may use master data management (MDM) tools and techniques to clean their data and leverage business rules that can prevent inaccurate data from being entered into the database.
Data governance is the most rudimentary level at which to implement information governance. Data governance is a newer, hybrid quality control discipline that includes elements of data quality, data management, I G policy development, business process improvement, and compliance and risk management.
Small wood, R. F. (2014). Information Governance: Concepts, Strategies, and Best Practices.
Aiim community. (2014, Aug 18). Defining the Differences Between Information Governance, IT Governance, & Data Governance [Blog post] Retrieved from https://community.aiim.org/blogs/robert-smallwood/2014/08/18/defining-the-differences-between-information-governance-it-governance–data-governance
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IT governance ensures that the corporation’s IT investments help the commercial enterprise objectives, control the risks, and meet compliance policies.
Examples of employer’s IT investments: bodily and technical security, encryption, servers, software, pc and network devices, database schemas, and backups.
It’s regularly argued that those investments are taken into consideration a cost middle as opposed to a cash generator. Here’s some tough talk: organisations wouldn’t be able to operate, optimise or maybe generate revenue without IT.
In quick: no IT, no information, and no commercial enterprise. But good IT operations require committed leadership to make sure that tech investments are maximised.
Data governance focuses on statistics quality from the ground up at the lowest or root stage, in order that subsequent reports, analyses, and conclusions are based totally on easy, reliable, depended on statistics (or facts) in database tables. Data governance is the maximum rudimentary level at which to enforce statistics governance.
Data governance efforts are trying to find to ensure that formal control controls—structures, approaches, and responsible personnel who’re stewards and custodians of the records—are carried out to control critical facts assets to enhance data first-rate and to keep away from bad downstream consequences of terrible statistics.
The biggest terrible outcome of poor or misguided facts is poorly and inaccurately primarily based selections.
Data governance is a more moderen, hybrid nice manipulate area that includes elements of information exceptional, records control, I G coverage development, enterprise technique development, and compliance and threat control.
The I G Initiative defines I G as the activities and technologies that companies hire to maximise the price of their facts while minimising associated risks and charges.” This definition emphasises locating and exploiting value in records, while retaining fees and risks as little as feasible. It is a broad definition but it is sharper than Gartner’s.
Corporate governance is the highest level of governance of a business enterprise and consists of the articles of incorporation, bylaws, shareholder agreements, regulations and strategies used to manage the connection of the organisation with its stakeholders.
A key component of company governance is I G. I G methods are higher level than the info of IT governance and lots higher than information governance, however both statistics and IT governance can be (and must be) part of a usual I G software.
The IG technique to governance focuses not on distinct IT or statistics seize and pleasant tactics but as a substitute on controlling the statistics this is generated via IT and workplace systems, or their output.
Susan Bennett (2017, September) What is information governance and how does it differ from data governance.
2.Bennett, C. J., & Raab, C. D. (2017). The governance of privacy: Policy instruments in the global perspective. Routledge. Muller, R. (2017). Project governance. Routledge.