Abstract

In the era of the fourth industrial revolution (Industry 4.0) and digital transformation, data is recognised by organisations globally as a strategic asset that supports various functions to achieve the organisation’s strategic objectives. There is a large volume of data produced, owned and managed by the organisations. Despite the high awareness of the criticality of data assets, organisations are still struggling to manage and govern the growing data assets effectively. Data governance develops and implements corporate-wide data policies, standards, and guidelines that are aligned with the organisation’s mission, strategy, values, and culture. There has been intensive research that gives an insight into how to design and conceive data governance as an organisation-wide program. Petroleum organisations are required to be agile in the way they respond or adapt because of the highly competitive and volatile business environment. With the instability of oil prices due to other alternatives of energy supplies, it forces the industry to look for ways of cost reduction, leaner operation and how to use the existing data for new insights and to create new business. Data governance can help organisations recognise the inherent value of their data assets. However, there might be existing contextual factors which might hinder the success and adoption of data governance practices. The study examines challenges experienced in the implementation and monitoring of data governance to give insight and guidance in the successful implementation of data governance.

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