Final answer:
Effective data governance is defined by several key value indicators such as reliability and trust in reports, efficiency in accessing the correct reports, comprehensive reference data, and robust audit trails for compliance.
Step-by-step explanation:
Value Indicators of Data Governance
Data governance refers to the overall management of the availability, usability, integrity, and security of the data employed in an organization. Key value indicators of effective data governance include reliability and trust in reports, which ensure that data collected and reported is consistent and reproducible, thereby fostering confidence among data consumers. Reduced time necessary to find and interpret the right reports with accurate metrics streamlines operations, enhancing efficiency across organizational processes. Moreover, having a datasheet with comprehensive reference data is crucial for accurate reporting and analysis. Lastly, a lineage audit trail is vital for regulatory reporting as it provides clarity on the data's origin, its movement, and its changes over time, ensuring compliance with legal standards and quality assurance.