For several years, Informatica LLC executives have been describing the modern era of Data 3.0, where information has been fundamentally driving new business models. It is an era that demands organizations adapt to a new world that requires taking control of and understanding data.

In other words, it’s a time when data governance becomes vitally important.

“We described the Data 1.0 journey, which was more application centric reporting, to Data 2.0 of data warehousing and a lot of the failed attempts at centralizing all of your data,” said Susan Wilson (pictured, left), vice president and data governance leader at Informatica. “Now we’re at Data 3.0 where we look at the explosion of data, the volumes, the number of data consumers, the expectation of the chief data officer to solve business outcomes. I need something that will help me scale and become more agile.”

Wilson spoke with Dave Vellante (@dvellante) and Paul Gillin (@pgillin), co-hosts of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during the MIT CDOIQ Symposium in Cambridge, Massachusetts. She was joined by Blake Andrews (pictured, right) corporate vice president of data governance capabilities and delivery at New York Life Insurance Co., and they discussed the role of data governance as a key business enabler and why it’s important to democratize information across an organization (see the full interview with transcript here).

Focus on transparency

At New York Life, the data governance function has evolved away from restrictive guardrails and more toward business enablement. The focus is increasingly on transparency around data, according to Andrews.

“We’re not there to create a lot of policies and restrictions,” Andrews explained. “We’re there to add value and to enable innovation in our business. What does the data mean, what data assets do we have, where are the most trusted sources, and what does the quality of that data look like?”

This transparent approach is important because both Informatica and New York Life view data governance also as an opportunity for data democratization.

“The objective is really around how to create a platform to ensure that anyone in your organization, whether I’m in a line of business and don’t have a technical background, or someone who does, can come and access and understand that information and connect with their peers,” Wilson stated.

Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of the MIT CDOIQ Symposium.

Photo: SiliconANGLE