As organizations increasingly rely on data, robust data governance has become essential to ensure security, compliance, and trust. The average cost of a data breach has risen significantly, highlighting the critical need for effective data governance frameworks, which encompass policies and practices for managing, accessing, and protecting data. Key best practices include data classification and labeling, role-based access control, encryption, and continuous monitoring to detect anomalies. Challenges such as data silos, resistance to change, and limited resources can impede implementation, but solutions like centralized data catalogs and AI-driven platforms can mitigate these issues. Real-world examples, such as Netflix's use of encryption and The New York Times' digital transformation of its photo archive, demonstrate the business benefits of proactive data governance. Companies like Acceldata provide tools to automate monitoring and enhance data quality, reinforcing governance efforts and ensuring compliance with industry regulations.