Companies institute policy for a reason. Not “because we wanted to”; there has to be a motivating factor. When it comes to creating and executing a Data Governance policy what are the drivers? Well, that depends on what industry you are in.
For regulated industries, such as financial, healthcare, pharmaceutical and energy, etc. the reasons are clear. Those companies have defined regulations that they have to meet. Even if the regulations aren’t entirely clear, the need still is! Internal auditors are looking to answer questions, identify areas of risk and work to resolve any outstanding issues before they become external issues.
For industries that don’t have direct regulatory bodies that have oversight, they still have many requirements with regards to data security and compliance. Every company has some form of PII, whether in the form of client data, employee data or data from vendors, there will always be a need to secure information that they have control over. Therefore, there is always a need for Data Governance.
So, what are your drivers?