What is Data Governance?

Demand for data governance solutions is growing as more companies move to a customer-centric and data insightsdriven approach to business while also needing to comply with ever-changing privacy, security, and governance regulations and frameworks To better collect, use, and protect data, businesses must first understand data governance and how smarter privacy and security compliance builds an intelligent governance program.   

Data governance is collection of practices and processes that enable data stakeholders to create and manage data and data assets rules. Effective data management and analytics require a data governance solution that protects the privacy, security, and integrity of all data while also enabling the business to gain value from that data. Organizations need robust data governance to gain meaningful data insights and comply with ever-changing security frameworks and privacy regulations like the GDPR, CCPA, LGPD, ISO, and NIST The sheer amount of data generated within an organization is significantly increasing throughout every business unit, from sales and marketing to product and development. Add to that the challenge of a continually changing regulatory landscape, and you can understand why good data governance cannot be ignored 

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Data governance provides businesses with a way to not only know what data they have but where they have it and who has access to it. Organizations with data governance solutions in place are better positioned to have objective, data-based insights that allow them to make more informed business decisions. They are also more likely to have more robust privacy and security programs as a result.  

What creates an effective data governance strategy? 

Below are the core components and considerations for any organization wanting to build a data governance strategy:  

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Do you have a data governance solution in place? 

Forward-thinking companies want to make the most of data to become insight-driven, trusted organizations. A strong data governance strategy means that businesses have good data and that they are also smart consumers of this dataThis requires a holistic approach to data policies, data quality, risk management, and business processes to create data literacy. The more data literate your organization is, the better you can use data-led insights to improve your operations and provide customers with the services and experiences they want.  

OneTrust can help your business better understand your data and how it is used. OneTrust DataGovernance software helps you better operationalize and manage your data while creating data intelligence across your organization.Contact us to learn more. 

Further data governance reading:  

Next steps on data governance: