As per authentic sources, the Data Governance Market was valued at $1.81 billion in 2020 and is projected to be worth $5.28 billion by 2026 with a CAGR of over 20.83%. Data Governance is a set of processes, metrics, policies, and standards that enable effective and efficient use of information for an organization’s upliftment. Through a robust data governance framework, corporations can ensure that their enterprise data assets are reliable and errorless for practical usage. Today, KR Elixir Technology will tell how Data Governance plays an integral part in determining an organization’s development. Continue reading to understand more.

Data Governance – Vital Benefits

Data Governance Tools help in,

Making Data Consistent

Consistent data is key to achieving immense organizational growth. As per CIO’s report, 80-90% of the data generated by us today is unstructured. Data Governance ensures that there are no contradictions in the data, meaning every user views the same copy of bulk data across all channels. 

Increasing Team Productivity

Data Governance frameworks provide seamless collaboration because of a centralized system. This further prevents miscommunication and increases the overall productivity or operational efficiency of the workplace. Additionally, employees do not have to waste a single second cleaning up bad data and can concentrate on crucial tasks. 

Maintaining Data Integrity  

Data Integrity is an integral part of Data Governance. Data Governance maintains data integrity by checking the accountability and essence of bulk data sets. 

Securing Data Assets

Data breaches are a serious threat to any organization. Data Governance takes care of data security by preventing accidental loss of data via strict security policies. 

Preventing Lawsuits

Through secure and nimble data governance networks, businesses can ensure regulatory compliance to prevent future lawsuits. 

Enabling Accurate and Quick Decisions

Data Governance checks the authenticity of data by removing duplicity and inaccuracies so that you can make quicker decisions for the benefit of your establishment.

Allow KR Elixir Technology to assist you in attaining the best Data Governance framework for 100X organizational development. For more information about how we can ensure data integrity and quality for augmenting your corporation’s performance, contact our team. 

As per CIO’s report, 80-90% of the data we generate today is unstructured. Thus, deploying cloud technology proves to be more reliable and scalable than traditional databases in terms of the growing use of data sets. Let KR Elixir Technology tell you how Cloud Technology fosters Data Modernization.