Laying the Foundation: Data Governance Best Practices Data is the new oil, but without strong governance, it can quickly become a liability. With increasing regulations and cyber threats, building a solid data governance framework is no longer optional. This guide explains the key essentials: Know your data: Inventory, classify, and catalog every data asset. Set clear policies: Standardize definitions, access rules, quality standards, and retention policies. Ensure data quality: Monitor and maintain data quality throughout its lifecycle. Build security and privacy: Use role-based access control, encryption, audits, and compliance-by-design. Empower people: Assign data owners and stewards, and promote a strong data culture. Strong data governance transforms data into a trusted, secure, and strategic asset that supports growth and innovation. Let us build a future where data is managed responsibly and used wisely.