Unprecedented data growth, compliance and regulatory challenges and the need for speed in business has made the role of data governance ever more critical.
On one hand, a proliferation of regulations and standards creates challenges for data governance, especially when multiple regulations seem to overlap. For example, regulations such as Sarbanes-Oxley try to enforce a balance between information access and appropriate use of information that needs to be considered in data governance policies. Then, on the other hand, corporate performance often hinges on having the right data at the right time – late data or incorrect data can wreak havoc.
An industry of sorts has grown up around this problem, with some data modeling tools vendors approaching it from perspectives that can include data quality, master data management (MDM), and regulatory compliance.