What is Data Governance?
Data governance refers to the strategy an enterprise takes to manage and protect its data, as well as the people and technologies that put it into action.
Enterprise data governance is the strategy your organization uses to gather, integrate, disseminate, store, and manage data. This strategy ensures that business-critical activities such as customer service, operations management, and supply chain functionality are more effective, efficient, secure, and private.
Principles of data governance
Comprehensive data governance ensures that the data your business uses to make decisions is easily accessible, credible, and secure.
With sufficient data governance in place, you can ensure your data is available to a governed set of users with proper access in place
For effective decision-making, you need to trust that the data underpinning those decisions is credible and correct. Data governance ensures the collection, organization, and storage of data by your company and its employees proceeds in an orderly and systematic way that protects data quality.
Data governance can help make sure that the data your company collects remains unchanged throughout its lifecycle, including when the data platform experiences updates or modifications.
By developing a strong data governance strategy, you can ensure that the right internal and external protections are applied to the collection, storage, and access of your data to safeguard it against loss, misuse, or theft. This strategy preserves the integrity of the data’s quality for use at an organizational level and ensures accountability and auditability.
Benefits of data governance
Data governance makes sure your data assets are protected, available to authorized users as needed, and in compliance with laws that govern it. By providing a clear direction on data-related decisions, data governance yields important benefits, including:
Users can trust well-organized and protected data, and it can be more effectively analyzed, leading to better decision-making.
Because data governance can boost the quality of data (and therefore enhance decision-making), it drives efficiency into the workflows throughout your enterprise and delivers improved operational performance.
Centralized and organized place for data access
When your data is centralized, you are better able to increase security and meet compliance standards. With proper data governance, your organization can take advantage of one centralized and organized repository of high-quality data, and ensure that data is accessible for all authorized users.
Data security is vital for every company. As the demand for data privacy and security has increased, so has the demand for access to the data necessary for continued business innovation. Data governance helps bridge the gap between data supply and demand in a way that keeps data secure and compliant with privacy laws.