3rd party providers are becoming increasingly important as reference data suppliers to improve and augment existing data and information.
A lack of consistency between these, and existing internal sources, can cause this information to appear inaccurate, or create conflicts that are difficult to resolve.
Reference governance starts with stewardship
Reference data classifies other data. inaccurate or inconsistent reference data means inaccuarate and inconsistent reporting, and negaitively impact related business processes and business rules.
Reference data is too important to be left to IT. Business stewards must be involved to assess the impact and approve changes to reference data.
This will help you to understand how best to make use of this information , when it should be incorporated into your internal data, and when it is not allowed to augment existing information.
Address these aspects with predefined Collibra data stewardship processes that assess and reconcile reference data and:
- avoid data changes that impact business processes and business decisions inappropriately
- potentially reduce cost of reference data sources by focusing on the purchase of data you need vs. buying it all
- improve the quality of data to achieve the information required to make decisions
- Manage flat stuctures
- Manage hierarchies
- Manage code mappings
- Collaberate with all stakeholers
- Validate structures
- Get business sign off and approval
- Publsih Active Code Lists