Data ownership and control have become one of the most talked-about topics today. The definition of data ownership is something you can easily find in the dictionary, yet it is one of the most interpreted. What exactly is big data ownership?
Data ownership is a concept that refers to the understanding that all consumers have the legal right over their data. It is a fundamental understanding and realization that individuals and companies have the right of ownership to their data.
When companies acquire and use individual data without their consent, they are simply dealing with assets they do not own. This means that any action related to the use of personal data must adhere to some rules and regulations to protect its rightful owners.
Data ownership does not mean the direct possession of data. Data owners are responsible for establishing the rules for the data. It means the data owners have the right to regulate and govern the data under their control, like management of ownerships, quality controls, and managing glossaries definitions.
What are the core elements of data ownership?
There are five core elements that you can consider when creating a data ownership plan and related data governance. The following are some of the most important elements of data ownership.
Management is the most important element of data ownership. This element should describe how data is handled, data recovery, systems, and processes required to manage it. Data management should cover when and how data is deleted.
Location is another important element of big data ownership. This element is focused on data owners knowing where data is physically located and processed, including the data stored in the cloud. Data ownership always requires a detailed understanding of data location to ensure compliance with regulations like those related to government agencies.
This element includes defining the rules specifying whom, when, and how data can be accessed. It covers the data that can be accessed by third parties who use data in their services, such as data storage providers and vendors supporting internal systems.
Data security is another important element of data ownership. Data owners should ensure that data has strict protection based on the sensitivity of the information. Data ownership should include making sure that there are guardians in place to ensure data confidentiality and privacy. Data should be kept safely and away from those who want to use it wrongfully.
Rights and retention
Specify who has the data rights and establish the retention parameters. In most cases, data ownership would extend throughout the data lifecycle and should include provisions for the dates to be destroyed, transfer of rights, and any exceptions.
There are a lot of issues you should know about big data ownership and control. When defining data ownership guidelines, there are many factors and elements data owners and users should consider the most. In this article, these elements have been clearly outlined.