Data governance refers to the technical, policy and regulatory frameworks designed for the management, processing, and security of data in the digital ecosystem. With effective data governance in place, data availability, reliability, and consistency are guaranteed. Given its potential as the resource that drives global digitalisation and economic development, data is figuratively described as “the new oil”, which must be strategically commoditised for value to be derived from it. The commoditisation of data necessitates a reliable data governance to make it retain its value as an invaluable asset, enabling it to drive innovation, boost economic growth, and foster societal development. In addition, effective data governance mechanisms are expected to integrate safeguards against data-related harms/threats that may result from the usage and processing of data.

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