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IBM suggests data governance shift
Jul 11 2008, 08:41 AM
The IBM Data Governance Council has met to discuss how businesses will deal with data in the future and has concluded that the way data is handled will become highly regulated in an increasing number of companies.
It said that businesses in some countries will have to demonstrate their data handling processes as part of regular audits.
BMO Financial Group head of information governance and quality Richard Livesley said there is no one-size-fits-all approach to data governance and that companies must base their governance program on their individual needs.
"In just a few years, data governance will become a key benchmark as boards of directors recognize their fiduciary responsibility to enhance and protect data, and markets measure business performance by looking at data value and risk on the balance sheet."
Businesses that take care of their data are likely to reap the rewards through increased data quality.
Those looking to clean up their data should seek the help of a professional company to make sure the process is carried out efficiently.
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