Why is data governance essential for organizations using PSE Cortex?

Data governance is a critical framework for organizations because it establishes the policies, procedures, and standards necessary to manage how data is acquired, stored, shared, and utilized. This framework ensures data quality and compliance by setting clear expectations about data integrity, security, and privacy.

When organizations implement robust data governance practices, they can maintain high standards of data quality, ensuring that the information used across the organization is accurate, consistent, and reliable. This is particularly important in compliance with regulatory requirements, as many industries are governed by strict laws and standards regarding data handling and protection. Therefore, a comprehensive data governance strategy not only protects the organization from potential legal issues but also fosters trust in the data being used for decision-making.

While some options may touch on certain aspects of data management, they do not encompass the multifaceted benefits of governance. For instance, limiting the types of data that can be stored might restrict operational flexibility, and accelerating data entry processes doesn't inherently improve data quality or compliance. Similarly, the idea that monitoring data activities can be eliminated is misleading; instead, continuous monitoring is integral to effective governance to ensure that the policies are being followed and that data remains secure and compliant over time.