Question

In this Application, assess and explain how data governance would solve each of the problems listed above. Explain, in greater detail, each problem listed below. Then, describe how implementing data governance processes would solve each problem. Identify which practice, operational requirement, policy, or standard could be used to address each problem.Some of these problems below : •Multiple versions of the truth •Higher than necessary data management costs •No ownership or accountability of data •Internal audit concerns •Lack of understanding and use of the information •Loss of information credibility •Intensive manual information to respond to requests of information •Difficulty complying with regulatory requirements such as Sarbanes-Oxley •Management concerns about the quality of the information being used for decision making