What is data governance?
Data governance is the process of managing the availability, usability, integrity, and security of data used in an organization. It is critical to ensuring that the vast amounts of data generated by various systems and processes are managed effectively.
How is data governance implemented?
Data governance involves the establishment of policies, procedures, and standards (such as security and privacy) for managing data, as well as assigning ownership and accountability for data to certain individuals in the company. When data management roles and responsibilities are defined, data quality standards can be established and controls implemented to ensure compliance with legal and regulatory requirements.
Why is data governance important?
Data governance is essential for ensuring that data is accurate, consistent, and reliable. Without any policies or procedures in place to govern the collection, management, and usage of data, it can lead to data chaos, the state where data becomes fragmented, inconsistent, or siloed, making it difficult to use for decision-making or other important tasks.
Implementing a data governance strategy provides a framework for decision-making based on reliable data, which is crucial for making informed business decisions. It helps to maintain data integrity while also enhancing its usability by ensuring that data is properly managed and controlled throughout its lifecycle. Furthermore, it can also safeguard against data breaches, regulatory non-compliance, and other risks by establishing data privacy and security policies and implementing data backup and recovery procedures.