Join Jonathan Reichental for an in-depth discussion in this video The role of data in the 21st century, part of Introduction to Data Governance.
- Let's think about the role of data in the 21st century. These days, we hear a lot about data. We know that our increasingly connected, and digital world, is producing an abundance of data. How much? Let me give you an example. Think about digital pictures, it's estimated we're taking and storing conservatively, around one trillion pictures a year. If every one of those pictures were printed on 4 X 6 paper, and then lined up end to end, they would easily reach the sun and back.
I think you'll agree, that's a lot of data. Data alone, might not be that exciting. But what it can enable, and the answers it can provide, are important. Data is now vital to our organizations. To our society, and ultimately to each of us. Let me give you some examples. Today, data is helping the medical community develop better disease treatment than ever before, by using large volumes of disease insight, to build better predictive models, for individual patients.
These techniques already help some hospitals determine when to discharge a patient, in order to lower the possibility of readmission. It's helping to predict and manage natural disasters, by using social media analytics, of reported events, to build visualizations of say, the status of a growing flood. We are able to see on a website, in real time, how the flood is progressing, by using hundreds, and even thousands of issues, reported by people on social media. Data is shining a light in corruption, and assisting with prevention of fraud, by aggregating disparate data sources to detect patterns that suggest unusual behavior.
In the case of credit card usage, a pattern of unusual purchases, combined with locations and frequency, can quickly raise a red flag, and suggest a credit card number, is being used fraudulently. With data, we're beginning to build better cities for each of us. And everyday, it's helping our organizations be more successful by, for example, helping identify and target new customers. We can do this by using data analytics, to understand what people are searching for on-line.
And then use new techniques, and tools to offer targeted ads. Fundamentally data helps us to make more informed decisions. Data must be viewed and used as an essential instrument of the 21st century. No matter who you are, you're either producing it, consuming it, or leveraging it. And it's likely you're doing all three. To realize the clear benefits of data, we need good quality data. We need data that is accurate, managed, and properly maintained.
We need to know where data is, who owns it, whether it's kept current, and how to store it properly for later use. We also need the tools, and skills to work with this data. If we do these things right, the value of all this data will increase, and be much more useful in the years ahead. It's gonna help us solve some of the most intractable challenges we face. This is the promise, and this is the value of data.
Here Dr. Jonathan Reichental explains how to begin to implement a data governance program within any organization. Learn the components of data governance, its strategic value, the roles and responsibilities of stakeholders, and the overall steps that an organization needs to take to manage, monitor, and measure the program. Plus, get guidance on a set of next steps for building skills. As the data science domain grows, so does the demand for data governance expertise. Start here for your first look at this in-demand skill.
- What is data governance?
- Why do organizations need data governance?
- Who owns the data?
- Designing the data governance process
- Managing, maintaining, monitoring, and measuring your program