WHY FOCUS ON DATA GOVERNANCE?
In the past few years, organizations worldwide have been paying more attention to data governance. According to “Data Governance Survey 2017”, 53% of companies just started working on data governance two years ago. There are three main reasons for this increased interest. First, the volume of data and the number of data sources are exploding—IDC estimates the data created and copied annually worldwide will reach 44 trillion gigabytes by 2020—and companies are struggling with controlling and managing it all.
Second, businesses are facing increased calls for compliance due to privacy regulations such as the European Union’s General Data Protection Regulation (GDPR) and the United States’ Health Insurance Portability and Accountability Act of 1996 (HIPAA). Also coming into effect on January 1, 2020 is the California Consumer Privacy Act (CCPA), which PwC calls “the beginning of America’s GDPR.”