Jeson Clarke

What is Data Governance?

As your business grows in the digital age, there's no doubt that it will collect and retain more and more data. In fact, the global digital economy runs on data, and it seems like every day, more data is required.

As this is the case, have you thought about your data governance strategy? Data governance is, in a nutshell, how you take care of the data you collect. Everything from your email newsletter subscriber list to your customers' credit card information is considered data. Protecting and preserving this data in a responsible manner is crucial to building brand loyalty and protecting your company from potential legal trouble.

Do You Have a Data Governance Team?

Because of the importance of data governance, both in terms of legal protection and reputation management, you're encouraged to have a team on your staff devoted to data governance policy. This team can analyze the data your company currently holds, set best practices for managing and protecting this data and ensure that your company is promoting responsible collection and preservation activities.

This team can also work closely with your legal and compliance teams to ensure that data governance is being carried out in a way that best protects your company. Keep in mind that different laws apply in different parts of the country and the world, and different industries may be subject to varying requirements. Utilizing a joint strategy is going to provide your business with better overall protection as opposed to two teams working separately.

Maintaining Custody Records

Something else to consider that often gets overlooked when considering the importance of data governance is how access is managed. Having a custody reporting system in place can reduce issues where someone in your company has access to personal customer information with no accountability.

These kinds of situations can result in liability for your company if something happens with this data, so knowing who has access to what data at all times is imperative. While your company is welcome to create its own policies, best practices often dictate that employees should never have access to customer data at home unless the employee is designated as a work-from-home employee.

Author Resource:-

Jeson Clarke writes about technologies, import/export data and customs data tools. You can find his thoughts at self service analytics blog.