The success of the information management initiative of an organization depends on its ability to effectively manage its data-centric processes including the governance program. Businesses need to be aware of the latest data governance trends which can affect their own monitoring strategies. Technological innovations like the Internet of Things and artificial intelligence have a deep impact on all data-related programs including governance.
However, it is not only technical issues which can affect the domain. Other elements like legal regulations also have an effect on the initiative. In this article, we are discussing the key trends which are expected to have an impact on the monitoring mechanism for data management programs in 2019. The knowledge of these swings in the domain will be helpful in modifying the data governance strategy and keeping it productive.
1. Governing Machine Learning Models To Eliminate Biases
Artificial intelligence (AI) has been a significant factor which has opened up new possibilities in data management. Businesses are looking at ways to incorporate machine learning into their information processing systems so that they can get in-depth insights into elements like audience behavior. However, using the technique has also given rise to some new and unique challenges. A problem that is being seen in many models and algorithms is that they contain biases. This happens because the information elements the systems use to train themselves, include some biases. This leads to the system developing a biased understanding of a case scenario. This year, more and more organizations will look to govern their datasets in such a manner that eliminates biases. This will be helpful in the creation of a model that is free from all kinds of prejudices.
2. Implementation Of More Privacy Regulations
Many organizations started implementing governance models only after they came under the ambit of the General Data Protection Regulation (GDPR) of the European Union. This law made it mandatory for organizations to ask for an individual’s consent before accessing his/her personal information. They are also legally bound to ensure that the information is being used only for specified purposes and is protected from breaches. More such laws are expected to be enacted in other major jurisdictions of the world. In the United States, the situation can become even more complex if each state chooses to implement its own unique regulation.
California has already announced that the California Consumer Privacy Act (CCPA) will become effective from the first day of 2020. This is one of the most significant data governance trends that can impact organizations across the globe.
3. Role Of CDO Will Become More Important
The Chief Data Officer (CDO) is responsible for monitoring all the efforts including governance for using data as an asset in an organization. They are responsible for protecting the assets and making sure they are used in an ethical manner by all users. However, most of the time the CDO is not given the same importance while defining an enterprise’s strategy as it is usually given to the Chief Information Officer.
The CIO leads the information technology initiative of a business and is considered as a vital cog in the wheel of a business. With data becoming increasingly vital for enterprises, the CDO’s role will also become more important. The officers will be involved in the decision-making body which sets the data management agenda for the organization.
4. Data Quality Will Remain The Top Priority For Governance Teams
Accurate data is essential for extracting good value from elements. The entry of AI through machine learning models also makes it more important to access correct information. In the absence of trustworthy data sets, it is virtually impossible to generate valuable insights or train machine learning systems efficiently. Acquiring low-quality information does not provide any benefits and is a complete waste of resources.
Ensuring good data quality will, therefore, remain a top priority for teams handling the monitoring initiative. Data provenance will also become more important as organizations will look to ensure that the elements they are accessing are originating from dependable sources. Businesses will use technology to study the lineage of their data assets to ascertain their trustworthiness.
Information management is a unique combination of technological advancements and human skills. Organizations need to be aware of the latest data governance services trends which can affect their data-handling programs. Knowing about the swings in the domain will help them fine-tune their monitoring mechanism and improve the productivity of their initiative.