Drive collaboration with data governance with Iron Carrot
Effective data governance is not just a buzzword but a strategic imperative. Firms must harness its power to enhance services, adopt new technologies, protect client relationships and drive profitability. Data governance isn’t just about compliance — it’s about unlocking the full potential of legal services — but there’s still a lack of understanding about what it really is.
I think of it as a collection of practices, roles, standards and processes that helps to ensure the proper management of data assets within a firm. General counsel’s office and information security usually cover compliance, risk mitigation and data security, with the data governance centre of excellence covering the rest.
Put simply, data governance is the framework that enables conversations between the right people to improve the firm’s strategic data management. It provides the right roles and responsibilities to support people in better managing their firm’s data and delivering its strategic goals. There are documents (like standards and best practices) that can also help, but fundamentally it’s about the activities of people, mainly how they work together cross-functionally.
Read more on Briefing: https://mag.briefing.co.uk/2024/04/18/advertorial-april24-iron-carrot/content.html
