<ul data-eligibleForWebStory="false">Effective data governance is crucial for businesses to stay competitive, secure, and compliant.Data governance ensures data accuracy, security, accessibility, and compliance within organizations.It fosters trust, enhances decision-making, ensures regulatory compliance, and improves operational efficiency.Key components include data quality management, security, privacy, compliance, and stewardship roles.Data governance is not just a necessity but a strategic advantage for businesses.