What Is Data Governance And Why Does It Matter?

If there’s something in business that you really want to do is being fast at processing data/orders. But sometimes this should not be the priority, because being fast is not necessarily a synonym of efficiency.” Or something different but still more specific. In terms of SEO (Search Engine Optimisation), the target keywords should appear in the first paragraph so try and include these in the intro as quickly as possible, no need for super creative introductions.

Take crossing roads, for example, If it weren’t for checking both sides of the road before crossing we could’ve saved so much time. But the truth is that if we didn’t check before crossing, there’s a big chance we wouldn’t have made it where we were supposed to go. It’s the same case with your business. If we didn’t have to follow rules we could’ve saved so much time. But danger lurks within the cyber world as people are looking to steal your data and information.

So the question is how do you protect your information at all times? Lay down rules for what your employees can or can’t do with your data. Or in other words, set up a strong data governance system.

What Is Data Governance?

Data governance is the initiative a company takes to create and enforce a set of rules and policies about its data. These policies cover issues such as:

  •     Making employees accountable for data assets
  •     Granting or limiting access to data.
  •     Information maintenance with accuracy and consistency.
  •     Storing and backing up data .
  •     Safeguarding your data from any kind of threats

In short, data governance covers any kind of threats or issues to your company’s data. To protect data from cybercriminals data governance should be made a priority. Data should also be used according to respective data sharing laws.

Importance Of Data Governance

Implementing a data governance system might sound like a hassle, that’s because it is. Implementing a data governance system involves a lot of planning, changing daily habits to secure data. It takes a lot of time and trial to get policies right if you decide to implement a data governance system.

As of late, Ransomware attacks are on the rise. These cyber-attacks are targeted at your company’s data. And once these cybercriminals get your data, they’ll either destroy it or delete it if you don’t pay them their demanded sums. An average ransom costs about $2,500. And, add the cost of security systems on top of that. Small businesses are frequently targeted by cybercriminals as 43% of cyber attacks are targeted at small businesses, and a majority of these attack victims go out of business.

Having a data governance system is worth it for the peace of mind alone. Even if you do get hit by a cyberattack, a good data governance council will have planned for that event and provided backup data or even saved money in their budget for ransoms. Having a data governance system provides backup to your data even if you get hit by an attack. This over time will save you a fortune.

 

Conclusion

A data governance system acts as a safety shield for you. It will save your money and valuable resources if you opt to install a data governance system. As cybercrimes are on the rise as we speak, it will be wise to have a safety net now rather than regretting later.

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Data governance is one of the many things you have to keep an eye on when implementing Kafka for your business. Do you want to get a full overview of some other hidden costs and risks when implementing Apache Kafka for your business? Fill in the form below and we send you our whitepaper.

 

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