Data as a strategic national resource: The importance of governance and data protection

  • Governing the collection, storage and handling of data though appropriate policies and procedures is key to realising its value.
  • The policies and processes relating to privacy, cybersecurity and information technology all need to align and coordinate with the overall management of data.
  • The role of ethics in AI is a key issue in the privacy impact assessment requirement.

Digital tablet art

As we rapidly move toward a technology-driven, globally interconnected world, the exponential growth in data collected by business and government enables significant value to be derived from this resource. In December 2015, the Australian Government released its Australian Government Public Data Policy Statement as part of the National Innovation and Science Agenda, recognising data as ‘a strategic national resource that holds considerable value for growing the economy, improving service delivery and transforming policy outcomes’

While there is the potential to derive enormous value from data, there is a fundamental requirement that data be secured, meaning both government and business must protect citizens’ and consumers’ personal information. Key to achieving the benefits of data optimisation and mitigating the inherent risks is governance. Good governance enables organisations to control data by securing, protecting, managing and optimising the value of data.

Key to achieving the benefits of data optimisation and mitigating the inherent risks is governance.

This article is exclusive to Governance Institute members and subscribers.

To read the full article…

or Become a member