When customers choose your products or services, whether online or at a brick and mortar location, they are also choosing to leave some of their sensitive information at your place of business. From credit card information to home addresses, this is private information that must be sourced and managed ethically and safely. Data governance is one concept that businesses must be aware of to maintain customers’ data and avoid a breach or inappropriate access. Learn more about the role of data governance in data privacy and data compliance.
Data privacy and compliance are two critical aspects of data governance. To truly maintain data privacy and compliance in an increasingly digital role, data governance must be at the forefront of your mind as a business owner. Data governance defines a specific goal or set of goals, with selected metrics that measure your process toward such goals. Metrics may include reduction in data errors and redundancy, data consistency and completeness, and the level of compliance of your team.
When you assign roles within the data governance of your business, you establish accountability for data management practices. This involves appointing data stewards or governance committees responsible for overseeing data privacy initiatives. These individuals or teams ensure that data handling aligns with legal and regulatory requirements, thus mitigating risks associated with noncompliance. When you are able to trust the right employees with your critical data, you ensure better data quality, storage, and can implement security measures that work.
Regardless of who you trust with data management and data security, data governance plays a vital role in fostering a culture of data privacy within your business. It helps you to promote awareness and implement company-wide training on data privacy, regulations, and principles.
Learn more about how empower your employees to understand their responsibilities in protecting sensitive information. A data-driven business culture ensures that data privacy becomes a shared priority, leading to more effective compliance efforts. This proactive approach not only reduces the risk of penalties but also enhances your business’s reputation among customers.
By establishing accountability, ensuring data quality, implementing security measures, and fostering a data privacy culture, your business is able to protect customers’ sensitive information and navigate complicated data privacy regulations effectively. As businesses continue to evolve and data becomes more and more critical in driving decisions, prioritizing data governance is essential for building trust and achieving long-term success.
