Companies are now at a point of inflection where they can leverage huge troves of data to run sophisticated analytics programs and grow business. However, for an organization to be able to leverage all this data in the most efficient way possible, establishing a clear governance protocol is the starting point. This governance protocol helps it to deal with issues that might arise from the various pools of data and the information it provides. There is data coming from everything and anything, and it is imperative to govern and channelize these well. Data governance is about establishing rules on all aspects of an enterprise's data such as its source, owners, validity, and security. Just as the subject of corporate governance arose out of necessity, so did data governance. Today, having a robust system of data governance is no more a luxury - it is an imperative.
Data is growing exponentially year on year. In fact, according to a report by IDC, data is doubling in size every two years. The report further goes on to state that "data that we create a copy annually will reach 44 zettabytes, or 44 trillion gigabytes." A sound approach to data governance allows organizations to save time by knowing how and where to search for data that helps them.