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In today’s fast-paced and highly competitive business environment, data governance is more important than ever. Businesses have the chance to capture large amounts of data from various sources, but they also need a way to maximize the value, manage the risks and lower the costs of maintaining it.
Data governance is a set of roles, processes, policies, metrics and standards that streamline the use of data in helping businesses achieve goals. It sets a standard for responsibilities and processes that ensure the security and quality of data throughout the business, defining who can take what action, with what data, using what methods and under what circumstances.
Any business working with large volumes of data needs a data governance strategy that explains how the business benefits from consistent responsibilities and processes. It helps the entire organization understand what data needs to be controlled and why, and it establishes clear responsibility, accountability and roles related to the data.