Michael R. Carithers Jr is an entrepreneur and consultant in the regulatory compliance and insurance industries. In the following article Michael R. Carithers Jr explains how companies must increase their diligence in the wake of cybersecurity threats so that consumer data in kept under lock and key.
Data protection has always been an issue for companies large and small. But in recent years, Michael R. Carithers Jr. says its importance has sky-rocketed to an all-time high — and for good reason. As companies have adjusted to regulations and created dedicated compliance teams, best practices have naturally been highlighted.
From thinking big but starting small to setting roles and responsibilities, Michael R. Carithers Jr. notes that every business has something to say about data protection and how they enforce their bulletproof policies.
Michael R. Carithers Jr. on Best Practices in Data Governance Programs
Michael R. Carithers Jr. reports that solid data governance necessitates meeting security, compliance, and legal standards. But unbeknownst to the average Joe, it's so much more than restricting access to certain information. It's also about making sure people who have access to the data use it consistently. Without consistency, people stop trusting in the data companies hold.
As they grow, businesses must put data governance programs in place to promote reliability in referencing and trust in their company.
Experts warn that starting these programs can feel messy. After all, new processes and policies implemented throughout various levels of the organization can be confusing. However, they ensure it gets easier if companies follow these best practices:
The Simpler, The Better
Ideally, Michael R. Carithers Jr. says there will be a centralized place to govern from. Thus, the simpler the system, the easier it is to manage. Whether limiting the content available or restricting the number of KPIs present, data governance experts urge companies to maintain simplicity for the best results.
It's Not Just a Tech Issue
Data governance programs only work effectively if implemented into a system that involves people and processes alongside technology. According to Michael R. Carithers Jr., a peer review process helps ensure data consistency and accuracy.
Businesses should produce guidelines outlining how to do certain things at department, team, and individual levels. Making sure these protocols are widely accessible throughout the company allows employees to understand what's expected of them.
Think Big, Start Small
Michael R. Carithers Jr. reports that while there are many ways to build data governance programs, the most effective starts with the people. Then, it moves to building the processes, and finally, the technology is incorporated.
After all, companies can't build successful processes without the right people involved.
Overdoing Permissions is a Problem
Historically, Michael R. Carithers Jr. explains that new compliance teams have tried to ensure everybody has access to the precise data they require. However, professionals quickly realized this created a fragile, confusing permissions web.
Therefore, they changed their outlook. These days, best practices state that the system should give people access to most of what they need and then adjust.
In short, experts say, "
an imprecise but well-understood system is better than a complex, unmanageable one
."
Communication is Key
Compliance experts suggest businesses should make communication a top priority, regardless of where they are in the data governance program. Consistent, effective communication is vital to demonstrate the impact of the program and transparently evaluate obstacles.
Set Roles and Responsibilities
The final, but potentially the most important, best practice is identifying roles and responsibilities according to Michael R. Carithers Jr. Effective data governance requires teamwork, so establishing who has authority and responsibility in certain areas makes gathering deliverables much easier.
While all organizations differ, most look to define roles as per the below:
- Data governance council (responsible for strategic guidance and prioritization)
- Data governance board (develops the policies)
- Data managers (create database systems to meet data governance needs)
- Data owners (a person accountable for a data asset)
- Data stewards (utilize data to ensure its quality)
- Data users (team members who enter and use data during their daily activities)
The Wonderful Way Companies Keep Consumer Data Safe Every Day
By following best practices, Michael R. Carithers Jr. notes that organizations craft effective data protection protocols that keeps their consumer's data safe.
They start by monitoring the data, understanding the information they hold, and knowing where it's stored. At this basic level, they're constantly staying ahead of cyber threats.
Next, departments test the cybersecurity system at various levels to analyze how the system and employees respond. It highlights weaknesses and strengths, allowing the company to make corrections before real attacks.
Finally, they ensure compliance with the data governance program and make consumers aware of how their data is collected, stored, and used. Trust is critical for businesses, especially where data safety is concerned.
Availability is The Best Enforcer
Michael R. Carithers Jr. explains that companies put a lot of time, effort, and finances into protecting customer data. Through all their experience, they've realized that making the policies and governance protocols easily accessible to their employees is the best way to enforce compliance.
Organizations that highlight policy availability seem to stay ahead of the ever-important data compliance regulations and laws.
