The vital importance of data governance

In this conversation, James Courtney-Smith, a solutions consultant with Lucid Data Services, discusses current trends in data engineering and technology. He highlights four areas of interest: AI and its potential, the importance of data governance, data security and privacy, and the need for effective data visualization. James also shares his role as the product owner of Market Business Glossary, a centralized resource for accessing data standards and reference data in the insurance industry. He emphasizes the significance of data ownership, stakeholder management, and education in successful data projects.

• AI is an emerging technology that has the potential to transform various industries, but its true capabilities and impact are still uncertain.
• Data governance, including security, stewardship, ownership, and data quality, is a crucial aspect of effective data management.
• Data security and privacy, especially in the context of GDPR and ownership of personal data, are important considerations in the data landscape.
• Effective data visualization plays a significant role in presenting information and insights to the correct audience.
• In the insurance industry, having a centralized resource like Market Business Glossary can provide access to data standards and reference data, ensuring consistency and quality in data usage.
• Successful data projects require a focus on data ownership, stakeholder management, and education to align business needs with technology solutions.

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