• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Articles
  • News
  • Events
  • Advertize
  • Jobs
  • Courses
  • Contact
  • (0)
  • LoginRegister
    • Facebook
    • LinkedIn
    • RSS
      Articles
      News
      Events
      Job Posts
    • Twitter
Datafloq

Datafloq

Data and Technology Insights

  • Categories
    • Big Data
    • Blockchain
    • Cloud
    • Internet Of Things
    • Metaverse
    • Robotics
    • Cybersecurity
    • Startups
    • Strategy
    • Technical
  • Big Data
  • Blockchain
  • Cloud
  • Metaverse
  • Internet Of Things
  • Robotics
  • Cybersecurity
  • Startups
  • Strategy
  • Technical

Top Nine Data Governance Trends in 2021

Michelle Knight / 5 min read.
June 16, 2021
Datafloq AI Score
×

Datafloq AI Score: 51.33

Datafloq enables anyone to contribute articles, but we value high-quality content. This means that we do not accept SEO link building content, spammy articles, clickbait, articles written by bots and especially not misinformation. Therefore, we have developed an AI, built using multiple built open-source and proprietary tools to instantly define whether an article is written by a human or a bot and determine the level of bias, objectivity, whether it is fact-based or not, sentiment and overall quality.

Articles published on Datafloq need to have a minimum AI score of 60% and we provide this graph to give more detailed information on how we rate this article. Please note that this is a work in progress and if you have any suggestions, feel free to contact us.

floq.to/4Ldrt

When you read about future trends in data governance, you want to learn how to get the data quality for your business without a lot of clunky and costly bureaucracy.

Maybe you hope you can buy a piece of data governance software, set it, and leave it without much thought.

However, any data platform, even automated data quality software, requires comprehensive data governance to guide it. DZone supports this requirement by confirming the data governance global market size will grow to USD $5.7 billion by 2025.

Fortunately, we’ve forecasted the latest industry trends in data governance that will promise you a thrifty foundation to maximize data quality automation with business operations and people.

Read further to learn about the nine crucial data governance trends in 2021 that are set to make a positive difference.

Nine Data Governance Trends In 2021

1. Hesitance Among Small and Mid-Sized Firms to Implement Data Governance:

Some small to mid-sized firms will try to forgo data governance in 2021 and beyond, for as long as possible, according to a BARC Business Intelligence (BI) survey. These smaller companies see investment in other business priorities as more essential and perceive data governance as blocking innovation.

Fewer employees, simpler technology infrastructures, and smaller data sets mitigate a lack of formal data governance at small companies. However, as the business adds more transactions, people, or systems, critical data quality issues will creep up to a crisis, affecting security and access.

2. More Spending by Larger Companies to Become More Data-Driven:

Larger companies see data governance as more relevant and have a rough formal data governance structure to become data-driven, making important decisions based on data analysis. Throughout 2021, some of these data governance practices will mature while company culture will remain a sticking point for data governance investments.

Only a third of Fortune 1000 companies say that they have transformed business outcomes with data, leading to a perceived decline in investment return. This result provides small to mid-sized companies a windfall to surpass larger firms’ data quality.

3. Lack of Data Governance in Artificial Intelligence (AI) and machine learning (ML) projects:

About 85% of companies use artificial intelligence (AI) and machine learning in their deployed applications. However, only about a fifth of businesses have implemented a formal data governance program to complement these AI and ML projects. Without the attention to data governance and resulting good data quality processes, firms will continue to lose ground from their AI and ML initiatives.

4. More Confusion Between IT and Data Governance:

In response to increased remote business and security vulnerabilities, companies have placed IT governance as a higher priority over data governance. While IT sets physical access to different resources, it does not comprehensively handle data quality and data privacy.


Interested in what the future will bring? Download our 2023 Technology Trends eBook for free.

Consent

A Forrester blog recommends taking data governance out of IT. With self-serving data quality tools, businesspeople can take charge of their data quality through their data governance roles.

5. Data Quality Remains a Central Theme

As insideBigData attests, data quality will always remain central to data strategy and data governance. To be cost-effective in 2021 and beyond, you need to have a data strategy, a combination of data management and data governance perspectives, to inform data quality activities.

When taking a data governance view, you assign roles and create cleansing processes to your automated data quality software. You save money by tailoring your data strategy to your business and set up ways to collaborate, cross-departmentally, about data quality.

6. Inclusion of Third Parties:

Tejasvi Addagada, a Principal Data Consultant, predicts that data governance will extend to data collection from customers and third parties. In this process, data quality will be corrected at s data source using data rules. Automated data quality with a data governance program will provide a simple solution for good data quality to start.

7. Increased Data Literacy:

An increased data literacy, the ability to read, analyze, transform, and interpret data will play a dual purpose in data governance and data quality. First, as managers become more data literate, they will be more comfortable leveraging data governance. Second, data governance improves employees’ data literacy, at the very least by providing examples and stories to teach and inspire others using data well and keeping its quality.

8. Greater Number of Data Privacy Regulations.

Since 2019, several regions and countries have enacted data privacy legislation. In the meantime, many US states have either passed or have data privacy bills in the works.

To do business in any of these areas, you need to comply with these privacy laws. You must have the data quality to trust your handle your customer data well in all business operations, requiring good data governance.

9. Greater Enforcement of Data Privacy Legislation

Regions with existing data privacy legislation will see greater enforcement through 2021. Violations will become more punitive and costly, as some data privacy laws have been in existence for a few years.

So, bad data quality practices because of confusion and ignorance will be less tolerated by regulators. To adapt, companies will have to adopt data governance and mature their existing frameworks. Small companies are not immune.

Final Words

Data governance industry trends in 2021 make it a top priority for small and large businesses to remain competitive and compliant with data privacy laws. Small and mid-sized companies have a small window of opportunity to get data governance, while large companies regress slightly.

Enacting IT governance does not handle comprehensive data quality needs. Combining data governance guidance with data quality automation tools, guided by a data strategy, allows you to run your business operation quicker and thriftily.


Originally published here

Categories: Big Data
Tags: data management, data quality, global trends

About Michelle Knight

Michelle has over three years of experience writing engaging and educational articles about data management and technology. She has a knack for explaining complicated data management topics to business people and outstanding analytical and research skills.Her software testing, quality assurance, library, and information science backgrounds add to her data and information management topics. Her work appears in DATAVERSITY and SiteProNews.She has been cited in multiple publications, including a UK government blog, the CDA Institute, and AIMS, a division of the Food and Agriculture Organization of the United Nations (FAO).'

Primary Sidebar

E-mail Newsletter

Sign up to receive email updates daily and to hear what's going on with us!

Publish
AN Article
Submit
a press release
List
AN Event
Create
A Job Post

Related Articles

The Advantages of IT Staff Augmentation Over Traditional Hiring

May 4, 2023 By Mukesh Ram

The State of Digital Asset Management in 2023

May 3, 2023 By pimcoremkt

Test Data Management – Implementation Challenges and Tools Available

May 1, 2023 By yash.mehta262

Related Jobs

  • Software Engineer | South Yorkshire, GB - February 07, 2023
  • Software Engineer with C# .net Investment House | London, GB - February 07, 2023
  • Senior Java Developer | London, GB - February 07, 2023
  • Software Engineer – Growing Digital Media Company | London, GB - February 07, 2023
  • LBG Returners – Senior Data Analyst | Chester Moor, GB - February 07, 2023
More Jobs

Tags

AI Amazon analysis analytics app application Artificial Intelligence BI Big Data business China Cloud Companies company costs crypto Data design development digital engineer environment experience future Google+ government Group health information learning machine learning market mobile news public research security services share skills social social media software strategy technology

Related Events

  • 6th Middle East Banking AI & Analytics Summit 2023 | Riyadh, Saudi Arabia - May 10, 2023
  • Data Science Salon NYC: AI & Machine Learning in Finance & Technology | The Theater Center - December 7, 2022
  • Big Data LDN 2023 | Olympia London - September 20, 2023
More events

Related Online Courses

  • Oracle Cloud Data Management Foundations Workshop
  • Data Science at Scale
  • Statistics with Python
More courses

Footer


Datafloq is the one-stop source for big data, blockchain and artificial intelligence. We offer information, insights and opportunities to drive innovation with emerging technologies.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Recent

  • 5 Reasons Why Modern Data Integration Gives You a Competitive Advantage
  • 5 Most Common Database Structures for Small Businesses
  • 6 Ways to Reduce IT Costs Through Observability
  • How is Big Data Analytics Used in Business? These 5 Use Cases Share Valuable Insights
  • How Realistic Are Self-Driving Cars?

Search

Tags

AI Amazon analysis analytics app application Artificial Intelligence BI Big Data business China Cloud Companies company costs crypto Data design development digital engineer environment experience future Google+ government Group health information learning machine learning market mobile news public research security services share skills social social media software strategy technology

Copyright © 2023 Datafloq
HTML Sitemap| Privacy| Terms| Cookies

  • Facebook
  • Twitter
  • LinkedIn
  • WhatsApp

In order to optimize the website and to continuously improve Datafloq, we use cookies. For more information click here.

settings

Dear visitor,
Thank you for visiting Datafloq. If you find our content interesting, please subscribe to our weekly newsletter:

Did you know that you can publish job posts for free on Datafloq? You can start immediately and find the best candidates for free! Click here to get started.

Not Now Subscribe

Thanks for visiting Datafloq
If you enjoyed our content on emerging technologies, why not subscribe to our weekly newsletter to receive the latest news straight into your mailbox?

Subscribe

No thanks

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Marketing cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!