At the ODI, we are exploring how business leaders should consider their company's data handling and data infrastructure as part of an overall approach to governance.
In the first episode of our ODI Inside Business series podcast, the ODI's Business Director Stuart Coleman is joined by Richard Young (Industry and Regulatory Affairs - Global Data at Bloomberg LP), Olivia Hawkins, (Consulting Director, Wunderman Thompson) and Faisal Khan (Chairman, Zabardast and Chair, Institute of Directors, South) to discuss why poor data governance could be a director's undoing.
COVID-19 has shown that, in all levels of society, we need a reliable data infrastructure. It’s the pipework that will keep supply chains functioning and businesses trading in normal times as well as during a crisis.
Sound data infrastructure helps businesses make the critical decisions to guide them back to growth and help build resilience. Yet many leaders don’t fully understand their obligations where the data that their company holds and handles are concerned. These go beyond GDPR compliance to areas of corporate governance and fiduciary duty.
Senior executives are ultimately responsible for their company's data and how it is collected, handled and shared. In the past few years, the impact of data mishandling on companies’ reputations have been seen clearly in various high-profile data disasters including the Cambridge Analytica scandal. So this is a responsibility that all leaders should take seriously.
In this essential listen for all business leaders, the panel considers whether senior executives are sufficiently aware of their data stewardship responsibilities and the consequences of overlooking them. And they debate whether business leaders have the necessary skills and knowledge to ensure their organisations are managing their data ethically and effectively.
The growing importance of data governance for company directors
This week, the Institute of Directors published a blog by Stuart Coleman on why poor data governance could be a director's undoing. Read the blog here.
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