Data Governance
Definition
The framework of policies, processes, and standards that ensure data is managed as a valuable enterprise asset throughout its lifecycle.
Overview
Data governance establishes accountability and decision rights for data management. It includes policies for data quality, security, privacy, and usage. Data governance frameworks define data ownership, stewardship roles, and metadata management. Effective governance ensures data is trustworthy, compliant with regulations, and available for business use. Governance is increasingly important with regulations like GDPR and CCPA.
Why It Matters
Regulatory fines for data governance failures can reach tens of millions of dollars. Beyond compliance, poor governance erodes trust in analytics, creates security vulnerabilities, and leads to inconsistent customer experiences that damage brand reputation.
How New Odyssey Helps
New Odyssey enforces data governance policies automatically across all integrations, with complete audit trails, role-based access controls, and AI-powered sensitive data detection built into every workflow.
Related Terms
Master Data Management (MDM)
The practice of creating and maintaining a single, authoritative source of truth for critical business data entities like customers, products, and vendors.
Data Quality
The measure of data's fitness for its intended uses, encompassing accuracy, completeness, consistency, timeliness, and validity.
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