In the rapidly evolving digital world, data is often cited as the new oil. However, like oil, data needs refining before it can truly power innovation. This is where data governance comes into play — a critical framework that ensures data is accurate, accessible, secure, and usable.
One of the most common questions I get asked is, “When should we consider implementing data governance, and is our startup ready for it?”
This is indeed a very pertinent question, as the answer largely depends on the current stage of the company. Some companies are in their early stages, where they might not yet have a formal database and are managing their data using tools like Google Sheets or Excel. On the other hand, there are companies that have already established one or two different types of databases (such as SQL or NoSQL) and find their information scattered across various platforms. In either scenario, understanding when to implement data governance is crucial for maintaining control over data assets and ensuring they serve the strategic objectives of the business effectively.
What is Data Governance?
Data governance refers to the collection of practices, processes, and frameworks that help manage and regulate an organization’s data assets. It sets the guidelines for data…
