Unlocking data’s potential: “Zain Data Office” foundedData has taken over the contemporary business scene, demonstrating its value as a pivotal resource for today’s enterprises and organizations. It has evolved into the cornerstone that businesses rely on when looking for new growth opportunities because it provides the knowledge and skills necessary to make more informed decisions and maximize value in addition to assisting in understanding consumer behavior and market trends.

It is viewed by many who are aware of market trends as the “digital fuel” that propels new corporate growth engines. In today’s technologically driven world, setting up a data office is no longer an option. Data offices became necessary when businesses needed a way to manage and structure how they used, stored, classified, and transferred data both inside and outside the company. The digital transformation has led to an exponential increase in the pace at which businesses operate today, particularly for those seeking growth, expansion, or even just to survive in a highly competitive market.

Successful businesses today have the resources and technology required to set up data offices and convert unprocessed data into reliable, useable information for decision makers. In certain markets and industries, the phrase “data office” may be relatively new, but this isn’t the case for any prospective business that understands how important data is to staying on course when managing growth plans and business strategies.

The data office is made up of a group of experts in analytics and data management who collaborate to turn data into a distinct vision that can guide the company. This team defines, cleans, and organizes data using the newest tools and technologies based on machine learning (ML), artificial intelligence (AI), and other cutting-edge innovations. They also use the data to identify patterns and trends that businesses typically overlook in raw data. These results can aid in the quick and accurate decision-making needed to boost revenue, improve operational efficiency, strengthen competitive advantage, and improve customer satisfaction.

Zain Kuwait is leading the way in launching the Data Governance Framework Program, which establishes the fundamental guidelines for data management, practices, objectives, roles, technology, and culture that support ensuring the usability of all the data an organization gathers. Data is becoming an increasingly valuable resource for businesses.

The global association DAMA is in charge of the Data Governance Program, which aims to standardize data frameworks, policies, procedures, and performance metrics throughout the company. Better data governance results in lower costs for data management, increased access to data for all stakeholders, and better quality and efficiency of the data. Better decision-making, business results, and ROI are the end results.

To enable the entire organization to grow and take advantage of new opportunities, it is essential to get the right information to the right people at the right time. This is because organizations today are receiving larger volumes of data in a variety of formats, both structured and unstructured. In order to use data more wisely to empower its business for success and accomplish its strategic goals, Zain recognizes the full- and long-term impact of data as a true and valued asset and treats it consistently through a comprehensive data governance strategy.

While enhancing data quality and controlling its use can be the driving forces behind data governance initiatives, some argue that maximizing operational effectiveness and customer satisfaction is their primary motivation. With innovation leadership at its core, Zain has been a consistent proponent of structured data governance, knowing full well that an all-encompassing, data-driven workflow will enable it to stay competitive and spot new business opportunities.

The “Zain Data Office,” which runs a comprehensive program to strengthen the company’s commitment to data governance, was established to realize this vision, according to Zain Kuwait Acting CEO Nawaf Algharabally, who stated, “This office is a testament to Zain’s dedication to not only manage data effectively, but also ensure that data governance is deeply integrated into all aspects of the organization’s operations.”

Algharabally went on, saying, “Zain fostered and powered a data-driven culture through world-class management of its data assets so that they are proactively and efficiently managed throughout the organization to ensure their accountability, availability, auditability, trustworthiness, and security. This allowed Zain to unleash the power of data and harness its full potential.” By putting into place efficient governance policies, standardizing procedures throughout departments, and greatly enhancing data quality and privacy, the Zain Data Office seeks to improve data management.

“We embraced the Zain Data Office initiative because we think that achieving regulatory compliance requirements under laws protecting personal data, cloud computing frameworks, and industry-specific obligations requires effective data governance management. Zain will be able to adhere to all necessary regulations regarding data privacy, storage, transfer, and processing thanks to data governance. He continued.

Algharabally went on to say, “We want to genuinely understand what impact we are having on our data citizens and service users and use data effectively to optimize and redesign our service offerings in order to build a holistic understanding of our performance and impact.” This entails going beyond KPIs and pursuing a deeper comprehension of performance.

“Zain ensures that all necessary security, legal, and ethical implications are considered in a consistent, timely, and proportionate way,” stated Nadia Al Saif, director of business intelligence for Zain Kuwait. We want to embrace the idea of shared data ownership, have a clear understanding of how data is used, and make sure that the risk associated with using them is appropriately balanced. Additionally, we want officers to be confident in managing and analyzing that data and to be data literate at all organizational levels.

Al Saif continued, “We’ve started this initiative to make sure every member of the organization understands the value of data and treats them as assets. It further establishes Zain Kuwait as a leader in data governance and is a major step in the company’s transformation into a data-driven enterprise. The Zain Kuwait Data Office currently serves as more than just a functional organization; it is a symbol of the business’s dedication to using data as a vital source of innovation, expansion, and competitive advantage.

Poor data quality results in the loss of 20–35% of operating revenue, according to research done by several international firms (Total Information Quality Management). If there isn’t a clear inventory of data available, data users spend 30–40% of their time looking for data (McKinsey). Furthermore, according to Deloitte, 40% of CEOs cite inadequate data integration as a major obstacle to carrying out their daily tasks. The value of data redundancy’s hidden costs could account for more than 12% of lost revenue (Experian Data Quality Research).

Zain emphasizes the significance of data governance in the contemporary business environment with this strategic initiative. The organization is committed to guaranteeing the accuracy and dependability of its data, as this is essential for preserving data integrity and facilitating well-informed decision-making. More than ever, it is crucial to protect sensitive information, and the Data Governance Office is essential in defending data against intrusions and breaches.

The complexity of managing data rises with the size of the company’s operations. This procedure is streamlined with the aid of the Zain Data Office, which guarantees simple access and efficient data utilization to quickly adjust to market shifts and grab new opportunities, promoting agility in business choices and tactics. The Office urges the business to advance data governance objectives by fostering a culture where data and its analysis are the primary decision-making tools.

Objectives of data governance:

Improve the quality of the data in analytics and reports.

uphold the privacy and protection of customer personal data.

Encourage the development of a data-driven culture. This will result in more strategic and successful decisions being made when decisions are based on data and analytics.

Meet the demands of artificial intelligence: data governance is essential to ensuring commitment and innovation as AI tools proliferate quickly.

Respect data laws: stay up to date with evolving laws by being proactive with data governance and making sure data is used securely and privately.

Data monetization is the process of looking for new markets for the commercial use of data, which results in insightful discoveries and the implementation of creative projects.

Important advantages of data management implementation

Drawing from a survey carried out by multiple multinational corporations

Making decisions:

SnapLogic promises 70% faster and more informed decision-making.

-23% greater accuracy level according to IDC’s business intelligence and analysis

SnapLogic’s current business operations have been improved by 64%.

Data expansion:

-The most recent estimates state that 328.77 million terabytes of data are produced every day.

-90% of the data in the world is thought to have been created in the last two years alone.

-From just 2 zettabytes in 2010 to this amount in 13 years, an estimated 60 times increase has occurred.

-It is anticipated that the 120 zettabytes produced in 2023 will rise by more than 150% to 181 zettabytes in 2025.

Of all data traffic, video accounts for more than half (53.72%) of the total.

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Effects of breaches in data:

65% of people lost faith in an organization as a result of a data breach, according to Varonis.

-80% of customers will stop doing business with a company if a breach exposes their personal information – Varonis

-Lose out to rivals: Rivals offering superior security features will win over 52% of the market. – Varonis