What is data governance?
The Data Management Body of Knowledge defines data governance as “the exercise of authority, control and shared decision-making (planning, monitoring and enforcement) over the management of data assets” (DMBOK, 2017) . Put simply, data governance is about implementing a set of policies, processes, structures, roles and responsibilities to ensure that an agency’s data is managed effectively, and that it can meet both its current and future business requirements.
Why is data governance important?
Data governance is as important to an agency as any other corporate, business or IT governance process. It ensures that data is understood, trusted and appropriately used. It ensures that the people who collect, manage and use data understand their responsibilities and see the value it adds to their work, the objectives of the organisation, as well as broader agency outcomes. Data governance is also an exercise in risk management because it allows agencies to minimise risks around the data it holds, while extracting the maximum value from it.
What are the benefits of good data governance?
Data governance, like any other program or process, must have a clear purpose for it to be beneficial. Instead of doing data governance for its own sake, it should be established to help an agency achieve its strategic objectives and it should be closely aligned to their business needs.
When data governance is aligned to the organisation’s needs, it can deliver specific benefits across three areas: business value, efficiency and risk mitigation.
New and existing homes
As a first home buyer, you may be eligible for a transfer duty concession or exemption.
- If your home is valued at less than $650,000, you can apply for a full exemption so that you don’t have to pay transfer duty.
- If the value of your home is between $650,000 and $800,000, you can apply for a concessional rate of transfer duty. The amount you’ll have to pay will be based on the value of your home.
Vacant land
The FHBAS applies to vacant land on which you plan to build your home.
- You won’t pay any transfer duty if your land is valued at less than $350,000.
- For land valued between $350,000 and $450,000, you’ll receive a concessional rate.
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Source: Adapted from Information Governance ANZ
Guiding principles of data governance
The NSW Information Management Framework principles should guide agencies in governing and managing their data:
1. Data is business enabling, aligned to business needs and customer outcomes
Data is created and managed so that it directly supports organisational, business and customer requirements. Data is integral to government’s operations and effectiveness.
2. Data is secure, valued and managed as an asset
Data is recognised as a core component of government services and operations, and is supported and maintained as a secure, long-term business asset wherever required.
3. Data is trustworthy, used and reused with confidence
Data is accurate, authentic and trusted, allowing its ongoing use and reuse by government and the community.
4. Data is high quality and (where relevant) spatially enabled
Quality data is of value to customer, business and strategic objectives, and where relevant, spatial enablement allows for improved service planning, delivery and business insights.
5. Data is managed across the full lifecycle, protected from unauthorised use and inappropriate deletion
Data is appropriately managed from procurement or service design, through to creation and to final disposition. This management includes the protection of personal, health and sensitive information, and prevention of deletion until enabled by legal destruction and authorisation.
6. Data is available and open to the community and government
Where appropriate, data is publicly accessible and available in accordance with proactive release and open data principles, or shared within and between organisations to improve policies, services, planning and innovation.
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Last updated 20 May 2024