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What Is Data Governance?

Data governance is a formalized practice that connects different components - roles, processes, communications, metrics, and tools - for its benefits. Company-wide data represents a resource that will “become more valuable than people ever anticipated,” according to David McGraw, senior manager in consumer and industrial products at West Monroe. Advances in generative AI models in 2023 will only increase the popularity and importance of well-governed data and its advantages so data consumers can easily find and understand data. Not only will this kind of information help businesses improve and grow through AI’s augmentation, but customers will be able to use it to support training their AI models and product creations.



One of the most significant benefits of data governance is that it provides improved data quality. This is because data governance ensures that data is accurate, complete, and consistent. It also ensures that data is available to the right people at the right time, which helps to improve decision-making. By improving data quality, data governance can help organizations to reduce costs, improve efficiency, and increase customer satisfaction.

Another benefit of data governance is that it can help to lower data management costs. This is because data governance ensures that data is managed in a consistent and efficient manner. It also ensures that data is stored in a way that is easy to access and use. By lowering data management costs, data governance can help organizations to save money and improve their bottom line.


Data governance can also help to increase access to needed data across the organization. This is because data governance ensures that data is available to the right people at the right time. It also ensures that data is stored in a way that is easy to access and use. By increasing access to needed data, data governance can help organizations to improve decision-making and increase efficiency.


Another benefit of data governance is that it can help to lower risks of errors being introduced. This is because data governance ensures that data is accurate, complete, and consistent. It also ensures that data is available to the right people at the right time. By lowering risks of errors being introduced, data governance can help organizations to reduce costs, improve efficiency, and increase customer satisfaction.

Data governance can also help to ensure that clear rules regarding access to data are both set, enforced, and adhered to. This is because data governance ensures that data is available to the right people at the right time. It also ensures that data is stored in a way that is easy to access and use. By ensuring that clear rules regarding access to data are both set, enforced, and adhered to, data governance can help organizations to improve decision-making and increase efficiency.


In conclusion, data governance is a formalized practice that connects different components - roles, processes, communications, metrics, and tools - for its benefits. Good Data Governance, which uses a service model, promises many benefits within and outside organizations. These advantages include data ethics, Data Quality, smoother corporate-wide communications, empowered decision-making, and expanded communities that can handle data better. By improving data quality, lowering data management costs, increasing access to needed data across the organization, lowering risks of errors being introduced, and ensuring that clear rules regarding access to data are both set, enforced, and adhered to, data governance can help organizations to reduce costs, improve efficiency, and increase customer satisfaction.


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