Data Governance Frameworks and Challenges
As regulations evolve, data governance is becoming essential for proper data management and compliance. Have organizations established data governance frameworks and what challenges do they face in doing so?
One minute insights:
More than half have experienced a compliance audit
Most have already established their data governance framework
Data governance improves data security and reduces data breaches
Talent management and establishing best practices pose a challenge
Leaders will continue to invest in data governance
The majority have experienced data governance issues and have established or begun to execute a data governance framework
Has your organization experienced any of the following data governance issues?
The most common data governance issues that leaders have encountered are compliance audits (52%), warnings for non-compliance (40%) and data breaches (37%).
Data loss 21%, Fined for non-compliance 20%, Data leak 19%, None of these 10%, Any other data governance issues? <1%
n = 300
More than half of respondents have established a data governance framework and 32% are executing a roadmap toward one.
Do you have a data governance framework in place?
n = 300
Regulations are catching up and requiring more emphasis on strong data governance programs.
There are a lot of precursors to data governance, including data classification and policies, that are far more complicated than the enforcement in my personal opinion.
Data governance frameworks provide security benefits once established, but finding the right talent and implementing best practices can make this a challenge
More than half of respondents identify improved data security (66%) and reduced compliance breaches (52%) as benefits of having a data governance framework in place.
What are the top benefits of having a data governance framework in place?
Reduced financial risk (e.g., fines) 39%, Improves auditing processes 25%, Enables smoother geographic business expansion 14%, None of these 0%, Other 0%
n = 300
The top challenges to establishing a data governance strategy, according to most leaders, include talent management (62%), establishing data management best practices (58%) and understanding third-party compliance (44%).
What are the top challenges to establishing a data governance strategy in your organization?
End-user practices (i.e., are end users willing to demonstrate compliant behavior?) 14%, Poor data quality 13%, Overly strict local data compliance mandates 9%, Financial management (i.e., budgeting for data governance) 6%, None of these 1%, Other <1%
n = 300
Training the staff with data governance best practices can improve the implementation of best practices. In most cases internal staff lacks the knowledge of data governance procedures.
Data governance is a relatively new discipline and [it] will take time to develop processes and implement them properly.
Leaders are mostly satisfied with their data governance practice and plan to increase investment in data governance
For the most part, leaders are satisfied with their data governance practices, though some are dissatisfied with team skills (14%) and budget (13%).
Are you satisfied with your data governance practices in terms of:
n = 300
In terms of investment, how will your approach to data governance change over the next 12 months?
Over the next 12 months, 78% plan to increase their investment in data governance, and 19% do not expect their investments to change.
n = 300
Adequate budget, talent, organizational support and training are key aspects to ensure a successful data governance process.
You can never stop trying to be in compliance with all the rules and regulations since a single lapse can cost you dearly.
Data Governance is something that all companies should have and having a tool/process that is easy to manage/maintain makes all aspects easier to keep up with and minimizes variances in how policies/processes are followed.
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Respondent Breakdown
