5 Reasons Why Good Data Governance Puts You Ahead of the Competition
March 27, 2023
According to Gartner, by 2025, 80 percent of organizations seeking to scale digital business will fail without taking a modern approach to data governance. Here are five more reasons why having good data governance will get your company ahead of the competition:
1) Stronger data lineage
Having good data lineage will give your team a better understanding of where your data’s from, how it’s changed and where it’s going. This means your data will stay accurate and consistent across all areas of your organization.
2) No more data silos
Without good data governance in place, your company is doomed to data silos. This limits your team’s ability to access data when they need it most. Good data governance gets rid of these silos, empowering your team to make data-driven decisions quickly, from anywhere.
3) Privacy protection
Remember when privacy laws were a thing? Well, they still exist, and data governance ensures they’re followed so you can continue to preserve the data privacy of your customers and employees while maintaining a good reputation.
4) Better data quality
Good data governance means improved data quality, giving your team access to the most accurate information so that you can make more informed business decisions and develop stronger relationships with your customers.
5) Improved access management
With better access management, you’ll be able to get the right information, in the right place, at the right time and keep it out of harm’s way in the process. Data governance plays a big part in making this happen.