Global Rise: Data Governance Becomes Top Priority for Businesses

by | Aug 24, 2023

In the modern age of technology and digitalization, data has become a valuable asset for organizations. Therefore, the importance of effective data governance practices has increased. A recent study commissioned by Qlik and conducted by Omdia sheds light on the current state of data governance in Australia, India, and Singapore across various sectors. The study provides insights into the challenges and priorities faced by senior data executives in these regions.

The study shows that by 2023, over 90% of organizations have implemented governance frameworks. This statistic highlights the increasing recognition of the significance of data governance in ensuring data quality, security, and compliance. It indicates that organizations are taking proactive measures to manage their data assets effectively.

An interesting finding is that approximately 71% of Chief Data Officers (CDOs) surveyed have embraced data governance practices. This shows a shift in their roles and responsibilities, with data leaders now actively involved in strategizing, assessing maturity, managing inventories, and overseeing governance. This transformation demonstrates how data leaders are playing a more strategic role within organizations, rather than being solely focused on technology.

Despite progress in data governance, the study highlights some persistent challenges. For instance, 56% of respondents reported a shortage of technical skills and support when migrating data to the public cloud. This shortage emphasizes the need for organizations to invest in training and upskilling their workforce to navigate cloud data management effectively.

In India, the study reveals that 2% of organizations have yet to adopt any data governance practices. While this percentage may seem small, it underscores the importance of raising awareness about the benefits of data governance and encouraging all organizations to implement robust frameworks.

The study also shows an evolving reporting structure within organizations. Over 58% of data executives now report through a security, risk, or compliance channel rather than a traditional technology organizational lead. This shift highlights the growing recognition of the critical role data governance plays in managing security risks and ensuring compliance with regulations.

Within the public sector, the study uncovers an interesting trend – nearly 48% of agencies use a governance title for their senior data executives. This indicates a strong commitment to data governance, with public sector organizations allocating more resources to governance than capability. This prioritization reflects the sector’s recognition of the need to maintain data integrity and security within government institutions.

Delving deeper into the Indian market, the study reveals that 63% of organizations are still maturing their data governance frameworks. The top three data goals for Indian organizations include defining a data strategy, establishing a governance board, and creating an enterprise data architecture. These goals highlight the focus on establishing a strong foundation for effective data governance in the Indian context.

A notable barrier to adopting cloud data management, as identified by 65% of respondents, is the effort required to modernize applications. This challenge emphasizes the need for organizations to assess their existing infrastructure and invest in technologies that facilitate seamless data migration to the cloud.

Privacy and security concerns also emerged as key considerations in adopting cloud solutions. The study found that 64% of respondents expressed worries regarding the privacy and security of their data when moving it to the public cloud. This highlights the importance of robust data protection measures and adherence to stringent security protocols in cloud-based environments.

The survey, which included 326 senior data executives within the public sectors of Australia, India, and Singapore, provides valuable insights into the current landscape of data governance. These findings underscore the growing recognition of data governance as a critical component of organizational success in the digital era.

As organizations continue to navigate the complexities of data management, it is evident that data governance will remain a top priority. By embracing data governance practices, investing in technical skills, and addressing privacy concerns, organizations can ensure the effective and secure management of their data assets, enabling them to make informed decisions and drive innovation in the ever-evolving digital landscape.

In conclusion, the findings of this study reinforce the global importance of data governance for organizations. From the shortage of technical skills to the evolving roles of data leaders, it is clear that organizations must prioritize data governance to fully leverage the potential of their data assets. By doing so, they can ensure data integrity, security, and compliance, setting themselves up for success in the data-driven future.