In the 'Information Era' rapidly evolving technologies and cutting-edge analytics, where massive amount of data is used everyday to drive critical business processes and decisions, data governance plays a vital role in a

The data governance principles espoused globally are as under: Maintaining the Integrity of the Data: A principle of the highest importance is integrity. It depends on the entity using your data whether or not it is being used in the appropriate manner. Data integrity is maintained if their means and goals are ethical. In all decisions about the data, the participants must be honest and forthcoming. This can include decisions on actions, impacts, constraints, etc. Transparency: In every case where data is used, proper transparency must always be maintained. To use data, as well as whose data is being used, all parties must understand how it is being utilized. Whenever there is a decision about usage or control, it must be communicated effectively to all parties involved. Accountability and Ownership of the Data: The ownership of the data must be defined. Appropriate procedures should be followed for defining access rights. Data governance applies to any data that is used across functions. As a result, data governance defines all decisions, processes, and controls related to data, i.e., its accountability. Data Audit: Audits are permitted on every piece of data used. Any decision, control, and process about data that relates to data governance can be audited. Therefore, they must contain documentation proving compliance. Standardization of Data: A company's data is used by many teams. In this case, the data in one format might not be compatible with another. It is imperative that specific guidelines and rules be defined in order to standardize data. In addition to these, there are rules for data definition, accessibility, security, and privacy. Change Management: There may be some discrepancies in the data that require a change. As a result, there is always a risk of tainting the data. Therefore, data governance ensures proper change management activities, whether proactive or reactive. The data will include reference values, metadata, master data, and its use and structure. Stewardship: The principle of stewardship should be adhered to. Accountability goes hand in hand with responsibility. It is essential to appoint a data steward in any organization. All rules and regulations must be followed by the data steward. This holds true for groups of stewards as well. It is their responsibility to ensure that the data is stored and used appropriately. It is their responsibility to always follow the best practices when managing data.