Erin Grant

Senior Marketing Manager

Erin has been a SaaS marketer for over a decade and educates readers on the quickly evolving data governance market through her work.

  

Data Governance Trends 2023: What You Need to Be Prepared

We enter 2023 unsure of many things in the business world (like the economic, political, and environmental climates) yet one thing is certain: data production is growing exponentially year over year and privacy legislation continues to take hold across the United States. Consumers and enterprises alike are increasingly concerned with the security of their private data, where and how it’s stored, and what happens to when it lands in the hands of bad actors.  Here are some data governance trends to keep your enterprise data as secure and risk-free as possible.

Increased Automation

Human error equals mistakes, there is no getting around it. Shifting manual data governance practices from manual practice to automated workflows virtually eliminates the human error component and allows employees to focus on more business-critical activities. Take the “set it and forget it” approach to ensure ongoing compliance and high data quality without having to micro-manage the process – let machine learning do the heavy lifting.

Using automated tools to enforce data retention policies, manage data classification, and remediate data lessons your risk of breach in 2023.

Increased Compliance Enforcement

Hot on the heels of the EU’s General Data Protection Regulation (GDPR), unveiled in 2018, states throughout the U.S. have begun rolling out their own iterations of data privacy regulations. These U.S. regulations are largely focused on the protection of consumers by protecting their rights to decide where their personal data resides, which entities have access to it, and to restrict the sales of personal consumer information.

Currently California, Colorado, Connecticut, Utah, and Virginia have active privacy laws, many of which go into effect in 2023. Several other states have limited privacy laws in place, and there are rumblings of a potential federal privacy law that, if passed, would supersede all state regulations. The writing is on the wall: organizations transacting in the United States must operate with the highest level of compliance enforcement to avoid potentially devastating financial and reputational penalties.

Renewed Focus on Data Governance Framework

These new privacy regulations bring about an increased need for ultra-effective data governance practices. Beyond the risk element, though, is a desire to leverage accurate, timely data and analytics to gain business advantage. Cutting through old, irrelevant files to get to the treasure trove of useful business data is the name of the game in 2023.

A data management strategy that holds true to the tenets of the data governance framework will meaningfully operationalize data, support better and faster machine learning models, ensure data compliance requirements, yield deeper data insights, enable better business processes, and ultimately enhance the quality of data flowing into all business applications. Building and, more importantly, enforcing a data governance strategy us non-negotiable.

Optimizing Infrastructure Costs

Given the uncertainty of the economy, the workforce unfortunately looks leaner as we head into 2023. IT teams have fewer employees to manage their ever-growing data collection but must still address the legislative onslaught coming their way while also providing meaningful data insights to stakeholders. Easy! (emoji)

Optimizing IT budgets, particularly funds dedicated to cloud storage and data infrastructure, is a top priority in 2023. Taking advantage of classification workflows to cull irrelevant, duplicative, and ultra-risky data leaves data stewards with a clean slate to improve hybrid-cloud storage practices. Using data insights to strategically delete, move, and store data will be an extremely effective way to free up human and financial resources to tackle more business-critical tasks.

Getting Ahead of 2023 Data Governance Trends

Data stewards face a lot of challenges in 2023; reduced staffing and slashes budgets are butting up against heavy data privacy legislation and increased expectations from business leadership. Building and maintaining a strong data governance program will make IT leaders’ jobs manageable in 2023. Classification tools will be invaluable, as they provide insight into overwhelming repositories full of dark data.

Congruity360’s Classify360 platform simplifies this approach by providing an initial surface scan, giving a quick snapshot of a data repository to better inform next steps. Classify360 enables data stewards to achieve quick wins in 2023 by quickly reducing redundant, obsolete, trivial, and risky data to demonstrate immediate wins, despite reduced budget and workforce. Continue down the classification path to automate your data governance practice, bringing historical data into current compliance and ensuring compliance for all future data. 2023 is about working smarter, not harder!

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