Data governance is a necessary measure of successful compliance and safeguarding for fraud prevention, security breaches,
privacy or just old-fashioned authenticity of data.
A large benefit of the self-service and collaborative approach to data governance and data discovery is the ability to harness an organization’s “tribal knowledge” that is often lost when using a more formal, top-down approach. When business users are actively involved in data management activities, decisions are made closer to the source of domain knowledge. Not only does this approach typically yield better results, but these results can be achieved more quickly. Closely managing and governing data, a business-critical asset, is paramount to success.