Data governance is the practice of managing and organizing data and processes to enable collaboration and compliant access to data. Data governance allows your data citizens — and that’s everyone in your organization — to create value from data assets. Leveraging a business glossary and a data dictionary as well as stewardship management and reference data management, enterprise data governance provides a single location to find, understand and create a shared language around data. Unfortunately, when data governance goes badly, it can lead to costly consequences, including:
Misinformation: Incorrect decisions based on inaccurate data
Security breaches: Vulnerabilities due to improper data handling
Regulatory violations: Potential legal consequences and hefty fines
Wasted resources: Time and money spent rectifying data errors
Increasing regulations across the globe
With data breaches making headlines, nations are intensifying their data protection regulations. Examples include GDPR in Europe, CCPA in California and even AI specific laws like the EU AI Act which has data specific requirements. Organizations must adapt to these changing landscapes to avoid penalties and maintain customer trust.
