For senior management, data stewardship is crucial to the success of digital transformation because it aligns data management with the strategic objectives of the organization. Senior managers are responsible for the overall risk management of a company. Data stewards help mitigate risks associated with data breaches, non-compliance with data regulations, and poor data quality - all of which can have severe financial and reputational consequences.
In a landscape of ever-changing regulations, senior managers must ensure that the organization complies with relevant data protection and privacy laws. Data stewards are pivotal in maintaining compliance and avoiding hefty fines and legal issues.
Data stewards help in identifying and managing data as a strategic asset. Senior managers rely on accurate, high-quality data for making informed decisions that align with business objectives and drive transformation.
By ensuring that data is properly managed, organized, and accessible, data stewards contribute to operational efficiencies. For senior management, this translates into cost savings and improved productivity, which are critical outcomes of successful digital transformation.
Promoting data literacy across the organization is often an overlooked aspect of digital transformation. Data stewards can develop training and resources to improve data literacy, which senior management can leverage
