Data governance is key to all types of organizations but lately it has emerged at the forefront of financial services. Stringent compliance requirements not only mandate that organizations provide accountability for data, but traceability, provenance, and auditability as well. This interesting information came to us from Datanami in their article, “Transcending Regulatory Compliance: Creating Business Value from Data Governance.”
Emerging technologies like semantic technology are changing the normally siloed response to regulations. Compliance and data governance increases the yields to affect nearly every aspect of data-driven processes throughout the enterprise.
The model-driven, standards-based approach of semantics for data governance is rapidly becoming the industry-wide normal. Some of these pioneering efforts have been orchestrated by the Enterprise Data Management Council (EDMC), an alliance of private companies, vendors, and public sector experts.
Semantic technology brings to light possible solutions that no one would have any reason to consider.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.