The importance of data governance and compliance
Businesses are becoming more and more data-driven as time goes on. They have good reason to do so, as revenue, time-to-market, profits, and customer satisfaction increase greatly for data-driven businesses. Given this trend, the need for data governance is higher than ever.
The goals of data governance can be summarized as follows:
- Managing an ever-growing data landscape
- Overcoming data silos
- Increasing data agility
- Complying with data regulations
More data-driven organizations mean a faster growth of the global data volume, but also a larger data landscape per organization. The latter will cause serious issues in the long run when managed incorrectly. With a strong data governance strategy alongside the right tools and services, a data landscape will remain clear and structured at scale. The data landscape tends to grow exponentially with the business. When the business grows, new subsidiaries or acquisitions...
