Business Glossary kickoff in fintech company

How we did start building data governance

In October 2022, we kicked off the Business Definition review process involving the number of representatives of company departments.

Our aim was to agree on shared definitions and calculations that will be used in all our future data products.

Today I would like to explain how we want to achieve that.

Business Glossary 2.0 was created to provide you with a standardized definition of all terms concepts and metrics used at company. A common language is a key component of data governance and the implementation of a the business glossary along with the definition review process it’s starting point in our efforts.

During the last months, stakeholders provided us with valuable input on how you are using data in daily work. From development teams working on dashboards and databases, Salespeople supporting our Clients, and Finance teams that rely on data with financial reporting. People shared their challenges and potential opportunities for the company. We came up with an initial list of key benefits from the Business Glossary but bear in mind that this is just the tip of the iceberg of possibilities:

Business definition Benefit and Examples