In general, big data initiatives offer significant opportunities for companies to develop a more thorough and insightful understanding of their business, which can lead to enhanced productivity, more efficient processes, a stronger competitive position and greater innovation – all of which can have a significant impact on the bottom line. That is why big data projects are growing so quickly.
However, big data initiatives bring some incremental risks and costs. One of the key value added projects a data governance program can lead is to drive an independent, yet collaborative assessment of the business benefits the company can hope to achieve from the big data sources versus the additional costs and risks of these new sources.
The data governance team must also be willing to challenge many of the traditional approaches to governance, making it even more important to understand the business goals and usage of this new information. Traditional governance approaches to data quality criteria, lifecycle management and compliance, to name a few examples, need to be re-evaluated in the context of the business goals and what is “acceptable,” yet living with some risk. Big data will also bring some new roles. Business owners or data stewards should be assigned to critical big data sources. Additionally, data scientists will be new power users that should also be staffed and become new members of the data governance teams.
The above quote comes from an Information Management article entitled Data Governance and Big Data. I really enjoyed this article as it gave examples of use cases, governance considerations, metrics to gather and data quality factors. It is definitely worth your time to click over and read the whole article.