Beyond Requirements: Tapping the Business Potential of Data Governance and Security

Doom and gloom. Fear, uncertainty and doubt. The “stick” versus the “carrot”. What do these concepts have in common? They have often provided the primary motivation for organizations’ data governance and security strategies. For the enterprise, this mindset has perpetuated the idea that data governance, data security and data privacy are reactive cost centers existing due to externally imposed requirements or mandates.

Yet, what if data governance and security practices could upend the prevailing paradigm and demonstrate direct business value?

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An Opportunity Awaits

Today’s savvy organizations are rapidly approaching this reality. In particular, data governance practices can facilitate safe, rapid and effective leverage of business data. In S&P Global Market Intelligence’s 451 Research survey data, the top enterprise benefits of data governance programs are actually not tethered to regulatory compliance or other “reactive” requirements. They are linked to outcomes that drive value for the business: higher quality of data/insight and faster access to relevant data.

How Data Governance Initiatives Have Added Value to Organizations

Q. How have data governance initiatives added value to your organization, if at all? Please select all that apply. Base: Respondents who are familiar with their organization’s data governance and/or privacy practices (n=293).

Source: 451 Research’s Voice of the Enterprise: Data & Analytics, Data Governance & Privacy 2022.

Data governance is a foundational set of practices and technology that underpin a pletho ..

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