What role do stakeholders play in Data Governance?

Stakeholders play a crucial role in Data Governance as they are responsible for establishing data policies and supporting data quality initiatives. Their involvement is vital because they represent various interests and perspectives within an organization, ensuring that data governance aligns with business objectives and regulatory requirements.

By establishing data policies, stakeholders provide a framework for how data should be managed, shared, and protected. This includes defining roles, responsibilities, and processes related to data management, which facilitate compliance with legal and regulatory standards. Furthermore, stakeholders actively advocate for and support data quality measures, which are essential for reliable decision-making and operational efficiency. They help ensure that data collected is accurate, consistent, and up-to-date, thereby enhancing its overall value to the organization.

In contrast to the other options, stakeholders do not typically engage in the direct design of data storage systems, management of IT infrastructure, or oversight of financial compliance, which are specialized functions performed by different teams or individuals within an organization. Their primary focus is on governance aspects, emphasizing policy-making and the maintenance of data quality. This collaborative approach among various stakeholders leads to a robust data governance framework that effectively serves the organization's strategic goals.