In this blog post, we will be learning the difference between Data Strategy and Data Governance and how they are related to each other.
The Difference
Data Strategy is the overarching plan that defines how an organisation will use data to achieve its business objectives. It outlines the vision, goals, and roadmap for how data will be collected, managed, analysed, and utilised to drive decision-making and business growth. A well-defined data strategy includes key components such as data architecture, technology stack, analytics, data integration, and the identification of business use cases for data. It addresses questions like:
- What data do we need?
- How will we collect and store data?
- How can data be used to improve business processes and outcomes?
- What technologies and tools should be employed to maximise data value?
Data Governance on the other hand, is a subset of the data strategy that focuses on the management, quality, privacy, security, and compliance of data within an organisation. It establishes the policies, standards, roles, and responsibilities to ensure that data is accurate, consistent, and used appropriately. Key aspects of data governance include:
- Data quality management
- Data security and privacy protocols
- Data lifecycle management
- Compliance with regulatory requirements
- Defining data ownership and stewardship