Data Stewardship

Definition

Data stewardship refers to the management and oversight of an organization’s data assets, ensuring their quality, integrity, and security. This concept involves establishing policies, procedures, and practices that support the responsible use of data while promoting compliance with regulations and fostering trust among stakeholders. It plays a critical role in harnessing data for decision-making and maintaining ethical standards in the digital landscape.

5 Must Know Facts For Your Next Test

1. Data stewardship is essential for effective business intelligence as it ensures that the data used for analysis is reliable and trustworthy.
2. Stewards play a pivotal role in defining data standards and policies that align with corporate digital responsibility principles.
3. The concept emphasizes collaboration between IT, data owners, and business units to foster a culture of accountability around data management.
4. Data stewards are responsible for training staff on best practices in data handling and promoting a culture of ethical data usage within the organization.
5. Proper data stewardship can help organizations avoid costly fines and reputational damage by ensuring compliance with data protection regulations.

Review Questions

• How does data stewardship impact the quality of data used for business intelligence?
  • Data stewardship directly enhances the quality of data utilized in business intelligence by ensuring that datasets are accurate, consistent, and up-to-date. Stewards implement standards and guidelines that help identify errors and inconsistencies within the data. This focus on quality allows organizations to make better-informed decisions based on reliable insights derived from the data.
• In what ways does effective data stewardship contribute to corporate digital responsibility?
  • Effective data stewardship supports corporate digital responsibility by ensuring that organizations manage their data ethically and transparently. This involves protecting personal information and adhering to relevant regulations while promoting accountability in data handling practices. By fostering trust among customers and stakeholders through responsible data management, organizations can enhance their reputation and build long-lasting relationships.
• Evaluate the role of data stewardship in mitigating risks associated with data breaches and non-compliance with regulations.
  • Data stewardship plays a crucial role in mitigating risks related to data breaches and non-compliance by establishing comprehensive policies for data management. By ensuring that proper security measures are implemented and regular audits are conducted, organizations can protect sensitive information from unauthorized access. Moreover, effective stewardship promotes awareness of regulatory requirements among employees, reducing the likelihood of non-compliance and its associated penalties.

Related terms

Data Governance:

A framework that defines who can take what actions with what data, ensuring that data is accurate, available, and secure.

Data Quality: The condition of a dataset regarding its accuracy, completeness, consistency, and reliability for its intended use.

Compliance:

Adhering to laws, regulations, and standards related to data protection and privacy that organizations must follow.