The Importance of Data Governance

Whether you’re an expert in data governance or not, implementing a new data management strategy can be challenging. Often, a data governance program involves a large number of employees, customers or partners who have different opinions and perspectives. In addition, these people might be passionate about their opinions. As a result, it’s important to organize the project to include all stakeholders and ensure that everyone knows their responsibilities. The best way to do this is to use a responsibility assignment matrix, such as RACI (responsible, accountable, consulted and informed). This will help keep the project on track, and minimize risks.

Having the right information in hand can make all the difference when it comes to leveraging your business intelligence. Having an effective data governance process in place can also save you time and money. A good governance program will include a clear definition of who is responsible for the data, and will include regular reviews and updates. It will also provide an audit trail for the life cycle of the data.

This will enable you to manage your data more efficiently and provide the insights you need for successful business decisions. A data governance plan will help your team understand the value of your data and help you make the most of it.

Data is a key asset in the digital economy, and having it is vital to ensuring success for your company. However, managing it can be difficult, especially with the increasing volume and variety of information available. This can be even more difficult in organizations that use multiple data sources or that have numerous data platforms and tools. It’s important to have a data governance framework in place to ensure the consistency and quality of your data.

The PDPO defines personal data as information that relates to an individual directly or indirectly, such that the person can be identified, either directly or indirectly, from the data in question, or from other data in the possession of the organisation. This includes any data that is processed in Hong Kong, but does not include any information that is lawfully collected or disclosed in another jurisdiction.

It also does not exclude the processing of data in a territory outside of Hong Kong, provided that it takes place under the control of the data user in question, and is not in violation of the provisions of the PDPO or the laws of the foreign country in which the data is processed.

This is the only exemption in the PDPO that confers extra-territorial application. However, the PDPO does not expressly allow this to happen, and it is up to each organisation to determine their data protection requirements for any data they collect and process, whether in Hong Kong or not. If you want to be confident that your organisation’s data is protected, it’s important to consult an expert in data privacy. They can assist you in creating a data management policy that will protect your organisation and help you to stay compliant with the PDPO.