What Is a Governance Model?

According to a study by Ermetic, 80% of the companies they surveyed experienced at least one cloud data breach from 2019 to mid-2020.

What does this mean for businesses working in the cloud? First, your cloud platforms need a different governance model to support your company’s business goals.

In addition, having a governance model in place ensures your company mitigates the risks of working in the cloud. The model, first and foremost, will secure your data.

But, there are several more benefits to having a governance model than just security. If your company is working in the cloud, keep reading to learn about a governance model and why you need one.

What is a Governance Model?

A data governance model identifies a company’s crucial data and ensures its quality and security. In addition, the model governance will make sure the cloud operates the way the users want it to.

When using the cloud, there is a loss of control. This can cause cost overruns, security breaches, data leaks, inefficient use of resources, and failure to meet compliance laws.

A data governance maturity model will assess your company’s data capabilities, educate your employees, identify gaps and compare your progress against competitors.

Model governance systems allow teams and departments to solve problems together without needing to develop specialized solutions.

A governance model also includes guidelines for the company’s employees to follow in the cloud.

Six Principles of a Cloud Government Model

A cloud government model needs to have several key aspects of cloud governance to function well. They include:

  • Security and Compliance Management
  • Financial Management
  • Data Management
  • Operations Management
  • Performance Management
  • Asset and Configuration Management

The best thing about an IT governance model is that it is customizable to your company’s needs. The idea is to have control in the cloud and run your company efficiently and securely.

Setting up a governance framework can take a lot of time. Therefore, it is best to focus on the company’s highest priorities first. Then, you can build the model over time. This will also help with cost management.

Governance Model and the DAO

The Decentralized Autonomous Organization (DAO) is an organization that automates and decentralizes decisions. The DAO was created as a way to eliminate human error.

The DAO has been used to improve governance systems using automation and blockchain. Automation can scale a large number of resources, services, and components.

Recently, Governor DAO became the first legally recognized DAO organization. This is a huge win for governance models and digital corporations.

Create a Governance Model for Your Company

As companies continue to conduct more business on the Internet and rely on working in the cloud, keeping your data safe and your company running efficiently is important.

In the long run, having a governance model will save you money, time, and stress. So now is the time to invest in building one for your company.

If you found this article helpful, make sure to check out other related content in the Technology section.

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