From accessory to necessity : Embedding data governance in business operations

Corporate real estate (CRE) has become datarich as buildings, workplaces and work itself becomes increasingly data-driven. As the universe of CRE data continues to grow, data governance is becoming a bigger challenge for many CRE teams still working with basic spreadsheets. When it is trustworthy and accessible, CRE data can help an organisation become more agile and competitive. Although the purpose of data governance varies depending on the organisation, some common components are always required. This paper details key considerations for creating a vision for the organisation’s data; defining critical data elements; and creating a business glossary and data dictionary with related business rules and data quality rules. It explains the concept of the data management model assessment and data maturity levels, to establish priorities for the data governance programme. Also discussed are steps for creating a data governance framework, including roles and responsibilities and distinguishing between data governance and data management. Since most companies lack even a basic understanding of their CRE data, having a strong CRE data governance programme will differentiate an organisation. CRE executives must not only think forward, but also recognise that this is a race to be the first to deploy.