What impacts can poor data governance have on a company?

Poor data governance can significantly impact a company by leading to a heightened risk of data breaches and compliance issues. This occurs because inadequate data governance practices often result in weak security protocols and a lack of proper oversight regarding who has access to sensitive data. When data is not managed effectively, it can lead to unauthorized access, data loss, and ultimately compromise the integrity and confidentiality of the information.

Furthermore, compliance with regulations such as GDPR, HIPAA, or other industry standards requires robust data governance frameworks. Failure to implement such frameworks can result in legal penalties, fines, and damage to the company's reputation. Therefore, prioritizing data governance is essential to mitigate these risks and protect both the organization and its stakeholders. The impact of poor data governance underscores the importance of establishing and maintaining effective data management practices within a company.