Data theft is on the rise - and growing. According to Statista, data breaches in the U.S. climbed from 157 cases to over 1,400 cases in just five years. Just in the last year, these data breaches led to the exposure of 164 million personal records.
Oftentimes, data is stolen as a result of poor (or nonexistent) data governance. But what is data governance?
Read on to learn the ins and outs of data governance, why it's important, and how it can protect your company's success.
What Is Data Governance?
While some data are publicly available, other data can't be viewed by everyone who wants to see it. Sensitive, personal, and secret information must be kept safe - and only dispersed to those authorized to view it.
When data needs this type of management and protection, data governance comes to bat. A data steward - the person(s) in charge of protecting and managing data - can decide the best ways to keep data safe. They're also in charge of determining when, how, and to whom this protected data should be shared with.
Data Governance: The Good, The Bad, And The Ugly
Good data governance is easier said than done. There's a lot of policies that weigh into how data is stored and shared. There are a few rules of thumb that data stewards have to follow:
• Data must be stored in a highly secure location.
• Data can only be shared with individuals who are granted authorization to do so.
• Data must be shared securely to those with authorization - ideally through encrypted protection.
Ultimately, failure to govern data correctly can result in lawsuits, client distrust, and even the economic downfall of a company. If you think that these mistakes are only made by smaller businesses, guess again. Data breaches occurring as a result of improper data governance happens to major global industries as well.
Tips For Data Governance Shopping
Clearly, securing a good data governance system is imperative to anyone holding important data. If you're looking for data governance for your business or company, you'll want to be sure that the data stewards are experts in secure data management and protection.
When you're shopping for a data governance provider, look for services that can prove their credibility and clearly explain their governance processes. If they don't have a strong online presence or reputation, they may not be legitimate. You'll also want to interview those offering governance services before sharing any sensitive data with them.
An important question to ask these governors is how they store and share data. If the information you're providing to them won't be accessible to you, this is likely a red flag. Look for data governance providers that offer public cloud services, which allow you and other authorized persons easy and safe access to this information.
Get The Best Governance For Your Data
So what is data governance? In short, it's security and reassurance that your data are in good hands.
If you have data that needs protection and strong management, you're going to need to secure it with the best data governance possible. Be sure to do plenty of research and ask questions before making an agreement with any data governors.
Remember - like any service, there are a ton of options out there, so take your time and find the best data governance providers for your needs. Once you've finalized your decision, you can kick back and relax knowing that your data are in good hands.
Interested in learning more about data security and technology? Check out more of our articles. From video editing technology to virtual content marketing, we cover a wide range of areas that will prepare you for success at home and in the workplace.
