Data GRC Management by Design

An integrated data governance approach of strategy, process, and technology requires understanding the interrelationships between data and business operations. The complexity and interconnectedness of data require a holistic understanding and a coordinated strategy to manage data effectively, reduce risks, and ensure compliance. This approach demands a robust data governance framework that leverages information structures and architecture to ensure consistent data governance, data risk management, and data compliance – Data GRC – is defined as:

• Data Governance. Establishing direction, strategy, and an ontology and information architecture for effective data management, ensuring data supports business objectives and the reliable achievement of those objectives.
• Data Risk Management. Identifying, assessing, and mitigating risk and uncertainty associated with data, management, and usage.
• Data Compliance. Ensuring the organization acts with integrity, fulfilling regulatory, contractual, and self-imposed data-related obligations and commitments.

Organizations require an integrated Data GRC approach encompassing strategy, processes, and technology to govern data effectively, meet data-related commitments, and manage uncertainties and risks in data management in an efficient, effective, and agile way. Without a coordinated Data GRC strategy and information architecture, organizations lack the insight and context to connect data management with decision-making, business strategy, objectives, and performance. Adopting an integrated approach to Data GRC, supported by a common strategy, process, and technology framework, is imperative for organizations aiming to thrive in today’s complex business environment. This approach ensures that data governance activities are aligned with broader business objectives and enterprise GRC efforts, providing a clear direction for managing data in the present and future.

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