Companies must evolve data governance to balance generating and securing data, facing challenges and opportunities

From Nasdaq

October 14, 2024 9:25 am:

Companies today face challenges in balancing the need to generate and share data with securing it from risks like cost management, performance issues, and security breaches. Enhanced due diligence on data sources will be crucial in the future. Data governance is complex, requiring informed decisions on what data to manage, prioritize, expose, retain, and secure.

Data governance is expected to evolve over the next decade with changes like easier data utilization from source systems, evolving regulations, greater consumer rights, necessity of data dictionaries, emergence of new roles, and increased costs and opportunities. Regulatory agencies will balance safety and innovation, and companies will monetize data to offset expenses and gain a competitive edge.

Read more at Nasdaq: Assessing Data Privacy and Cybersecurity Risk