Introduction
In an era of rapidly increasing data availability, implementing effective data governance is crucial for organizations to manage data assets efficiently. This comprehensive review explores the principles and benefits of data governance, highlighting its role in ensuring data quality, regulatory compliance, and organizational efficiency.
The Growing Importance of Data Governance
As data volume grows, the need for robust data governance becomes evident. Data governance ensures the proper management of data assets, facilitating accurate and timely information delivery to the right stakeholders.
Definitions and Framework
Researchers and practitioners define data governance differently, but it generally involves frameworks for decision rights and accountabilities. It aims to promote desired behaviours in data usage within an organization, ensuring data’s strategic alignment with business goals.
Direct and Indirect Benefits
Data governance brings direct benefits like improved efficiency, increased revenue, reduced risks, and lower costs. Indirect benefits include: Enhanced perception of information initiatives. Better acceptance of data management investments. Increased trust in information products.
Research Methods and Literature Review
Conducting a systematic literature review, the authors analyzed academic and practical sources to identify key concepts and principles. This methodological approach helps establish a solid foundation for future research in data governance.
Organizational Dimension
Data governance involves organizing roles, decision areas, and responsibilities. A tailored approach is essential for each organization, as a one-size-fits-all model could be more effective. Coordination and clear communication patterns are critical for establishing a robust governance structure.
Alignment with Business Needs
Ensuring that data governance aligns with business objectives is imperative. Policies and strategies must reflect the organization’s goals, and data quality should meet the requirements for business functions.
Compliance and Enforcement
Compliance is a significant aspect of data governance. Establishing and enforcing data policies ensures adherence to relevant laws and regulations. It also includes safeguarding personal data and implementing accountability mechanisms through incentives and penalties.
Fostering Common Understanding
A common understanding of data is essential for effective governance. Standardizing metadata and developing an enterprise data model can clarify data’s meaning and importance, ensuring all stakeholders are on the same page.
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