Utilizing Good Data Governance Procedures For Your Data
Data is an essential corporate asset that helps you make those all important business decisions on all aspects of energy and commodities markets.
Having the appropriate controls and procedures in place when working with internal and external prices can contribute to your organization’s competitive advantage in the market place.
Utilizing the proper data governance procedures ensures your market data is appropriately safeguarded and managed through data planning, administration, and the control of data.
Good data governance can also ensure that all company data is managed as a resource in compliance with the relevant existing legislation and corporate policy, while also balancing both the costs and the risks.
This can be expanded to ensure external vendor agreements are in compliance and provide strategic insight into the external vendor landscape.
Strong Data Market Governance provides the following benefits:
- Protects the organization from risk of litigation or sudden fees
- Ensures data usage across the organization is transparent
- Reduces the duplication of external data from multiple sources
- Provides an enhanced external data landscape experience
ZEMA Administrative Console facilitates the integration of an organization’s data requisition business processes within its database.
This robust enterprise management platform provides a single source of market data that helps you create a strong governance framework around your data. Having this single source of market data allows for a well-governed business process that supports both the organization’s increasing appetite for data and its need to have an effective, transparent means for understanding how data is being used.