Difference between Data Governance and Data Trust

Data Governance:

Objective:

The primary goal is to create and implement policies, processes, and standards to manage data as a strategic asset.

Key Activities:

1. Developing data governance frameworks.
2. Establishing data stewardship roles.
3. Implementing data quality management practices.
4. Addressing data lifecycle management from creation to disposal.
5. Ensuring compliance with data privacy regulations like GDPR and CCPA.
6. Providing data cataloging, metadata management, and data lineage tracking.

Focus Areas:

1. Data quality, consistency, security, and privacy.
2. Enabling better decision-making and operational efficiency.
3. Conducting regular data governance assessments, including data privacy assessments and audits.

Promised Benefits:

1. High-quality, consistent, secure, and private data.
2. Enhanced decision-making capabilities.
3. Improved operational efficiency through effective data management.
4. Compliance with data privacy and protection regulations.

 

---

Data Trust:

Objective:

The primary goal is to build and maintain trust in data through robust data governance and management practices.

Key Activities:

1. Developing comprehensive data trust frameworks.
2. Establishing data stewardship roles and ensuring data integrity and privacy.
3. Implementing data quality management processes.
4. Addressing the entire data lifecycle management from creation to disposal.
5. Ensuring compliance with data protection regulations like GDPR and CCPA.
6. Providing data cataloging, metadata management, and lineage tracking.
7. Conducting regular data trust assessments and audits.

Focus Areas:

1. Building and maintaining trust in data.
2. Ensuring data accessibility, integrity, privacy, and protection.
3. Enabling reliable decision-making through trustworthy data.
4. Mitigating risks to ensure continuous alignment with business goals and regulatory requirements.

Promised Benefits:

1. High-quality, consistent, and trustworthy data.
2. Enhanced data privacy and protection.
3. Improved decision-making through reliable data.
4. Compliance with data governance and privacy regulations.

 

---

Key Differences:

Emphasis:

• Data Governance: Focuses more on creating and implementing structures and processes to manage data as a strategic asset.
• Data Trust: Emphasizes building and maintaining trust in data, ensuring its reliability and integrity.

Scope:

• Data Governance: Broad scope covering various aspects of data management, including quality, consistency, security, and privacy.
• Data Trust: Focuses specifically on trust-related aspects, ensuring data reliability, integrity, and protection.

Approach:

• Data Governance: Involves the establishment of governance frameworks and roles, emphasizing compliance and operational efficiency.
• Data Trust: Involves a trust-centric approach, emphasizing the integrity and reliability of data for decision-making.

=======================================================================

Disclaimer:
The views and information expressed in this article are provided for general informational and educational purposes only and do not constitute professional, legal, financial, or investment advice. LAMAH Intelligent Solutions and the author(s) make no representations or warranties as to the accuracy, completeness, or suitability of the information contained herein and accept no liability for any loss or damage arising from reliance on it. Readers are advised to seek independent professional advice before making any decisions based on this content.