Data Governance: A Primer on the Basics
Introduction
Today, the world revolves around data and organisations are amassing vast amounts of data at an unprecedented rate. Data now is often referred to as the “new oil” and is a valuable asset that can drive business growth and innovation. However, “With great power comes great responsibility”, and organisations must optimise and effectively manage their data to derive maximum value while ensuring that compliance, security, and data integrity are intact. This is where data governance comes into play. Here, we’ll explore the basics of data governance and why it’s essential for businesses of all sizes.
What Is Data Governance?
Data governance is a holistic approach to managing, protecting, and optimising an organisation’s data assets. It encompasses a set of policies, processes, roles, and responsibilities that ensure data is handled consistently and is in alignment with the organisation’s objectives. The primary goals of data governance include:
1. Data Quality: Ensuring that data is accurate, complete, and reliable, thus promoting trust in decision-making.
2. Data Security: Implementing adequate measures to protect data from unauthorised access, breaches, and threats.
3. Compliance: Adhering to data-related regulations and industry standards.
