Data Governance (DG) is the practice of overseeing how an organization uses and stores its data. This involves setting policies, standards, and guidelines regarding its usage to support business goals and ensure all data is consistently managed to support outcomes.
Recently, organizations have realized the strategic value of data as an asset and begun using it as an enabler of business innovation and digital transformation. As a result, new data requirements and regulatory compliance needs have arisen.
As data volumes increase quickly, more organizations must implement an effective governance program to support self-service BI and analytics while assuring accuracy and accessibility of their data.
Balancing data privacy and security can be an enormously complex challenge when streaming data for real-time analytics.
As your ecosystem continues to change, it is vital that your approach to data governance evolves with it. Doing this allows you to evaluate whether it meets internal and external regulations while also helping identify any potential issues before they have an adverse impact on business operations.
An effective data governance framework must be flexible enough to meet the unique requirements of your organization and meet future business goals. For this to occur, its contents should include: