What Are The Data Governance Trends For 2023

Given that practically every organization, regardless of size, collects data these days, it makes sense to improve data management to provide greater insights. This is where Data Governance enters the scene, as it is expected to become a critical component of service delivery operations by 2023.

It is difficult to predict with certainty what the top data governance market trends will be for 2023 as there are many factors that can influence the direction of the market. However, based on current trends and developments, it is likely that the following trends will continue to be significant in the data governance market in 2023:

1. Increased focus on data privacy and security: With the growing importance of data privacy and the increasing number of data breaches and cyber attacks, organizations are likely to place an even greater emphasis on data security and privacy in their data governance efforts. This may include implementing stricter data access controls, investing in advanced security technologies, and adhering to stricter data protection regulations.

2. Greater use of artificial intelligence and machine learning: As organizations look to extract more value from their data, it is likely that there will be increased use of artificial intelligence (AI) and machine learning in data governance. These technologies can help organizations automate certain data governance tasks and make more informed decisions based on data analysis.

3. More widespread adoption of data governance frameworks: As data governance becomes increasingly important for organizations, it is likely that more companies will adopt formal data governance frameworks to help ensure that their data is being managed effectively. These frameworks provide a set of guidelines and best practices for managing data and can help organizations establish clear roles and responsibilities for data management.

4. Greater emphasis on data governance in the cloud: With the increasing adoption of cloud computing, it is likely that data governance in the cloud will become a key focus for organizations. This may involve implementing specific data governance processes and controls for cloud-based data, as well as ensuring that data is protected and compliant with relevant laws and regulations.

Overall, the data governance market is likely to continue to evolve and change in the coming years as organizations seek to address new challenges and take advantage of new technologies and opportunities.

Some of the most important trends driving the Data Governance market in 2022 were geared on getting a competitive advantage in an unpredictable, "post-pandemic" business world. The following are our predictions for organizations planning data governance initiatives in 2023:

1. Automation of Data Governance (DG) operations is in great demand as more data flows into firms. Furthermore, data migration to the cloud will necessitate deploying advanced Data Governance methods and technologies by company leaders.

2. Organizations may now monitor and analyze amounts of enterprise data in real-time, thanks to developments in cloud platforms, and take Data Governance procedures as needed.

3. Learning and using Master Data Management (MDM) trends early on will help firms climb above the competition, reduce expenditures incurred due to Data Quality concerns, and obtain insights faster. Organizations will embrace automated MDM systems as compliance becomes more critical. As a result, in 2023, adopting and implementing AI-driven MDM solutions will be a vital enterprise role.

4. Self-service (automated) Data Governance will gain appeal among employees as more firms embrace remote or hybrid working policies.

5. Intercloud technologies will allow disparate Data Governance systems to collaborate efficiently by utilizing cloud services running across cloud ecosystems.

6. Even small, under-resourced data teams can provide Data Governance and integration solutions on demand by leveraging specialized AI and ML-powered data services - automated data pipelines, automated Data Quality management, and automated Data Governance.