Abstract
Data-intensive products and services aim to turn big data to a value or strategic asset for the organizations. However, the inherent risk and cost of storing and managing a massive amount of data undermine the value creation from such products and services. Consequently, organizations need to adopt an appropriate data governance program to establish the necessary policies and structures in order to strike a balance between value creation and risk and cost. This chapter explores the data governance in detail, focusing on data governance principles, decision domains, and organizational structures. We discuss the data governance challenges, opportunities, and practices for big data and Internet of Things (IoT) domains. We also present two industrial big data applications/products whose data needs to be governed.
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7 https://sodalite.eu/: SOftware Defined AppLication Infrastructures managemenT and Engineering.
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This research has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 825480 (SODALITE project).
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Kumara, I., Kayes, A.S.M., Mundt, P., Schneider, R. (2023). Data Governance. In: Liebregts, W., van den Heuvel, WJ., van den Born, A. (eds) Data Science for Entrepreneurship. Classroom Companion: Business. Springer, Cham. https://doi.org/10.1007/978-3-031-19554-9_3
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