Enterprise data governance
Every organization, whether small or large, collects data, usually from multiple sources, and is responsible for ensuring that processes are in place to handle data in a consistent manner. It must do that in such a way that is compliant with data-related regulations and laws that the organization is subject to.
Organizations also make decisions about data, for example, where to store data, who can access it, and how long to keep it, but some organizations consciously put in the effort and formalize this decision-making process while others may not do so. Those that do this in a formal manner realize more value over a period of time while also minimizing their exposure to the risk caused by informal data governance processes.
In the next few sections, we will start by defining data governance, clearly articulating the business drivers behind it, the benefits of formal data governance, and other related aspects of data governance.