Data governance is all about managing data, by revising that data to standardize it and
bring consistency to the way it is used across numerous business initiatives. What’s
more, data governance ensures that critical data is available at the right time to the
right person, in a standardized and reliable form. A benefit that fuels better organization
of business operations, resulting in improved productivity and efficiency of that
organization. Thus, the importance of proper data governance cannot be understated.
The concepts of data governance have evolved, where the first iteration of data
governance, often referred to as version 1.0, focused on three simplistic elements:
objectives, structure and processes; having a limited focus and scope due to its
tactical usage. The opportunity from the growing value of data in the realm of
analytics, business intelligence, and generating insights was left unrealized. Today,
organizations are moving towards what can be called Data Governance 2.0,
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