Data classification is the process of categorizing data according to its sensitivity, such as public, confidential, or restricted. Data classification helps ensure that data privacy is maintained by applying appropriate controls and policies to different types of data. By standardizing data classification processes throughout the enterprise, IT governance can ensure consistent and effective data privacy practices across all systems and departments. Incorporating enterprise privacy categorizations into contracts, requiring business impact analyses for enterprise systems, and reassessing the data governance policy are not long-term strategic responses, but rather tactical or operational actions that may support data privacy. References := What is Data Classification?, Data Governance Policy: Examples & Templates, What is data governance?

This is because social media can offer many advantages for an enterprise, such as enhancing customer engagement, increasing brand awareness, improving market intelligence, and fostering innovation. However, social media also poses many challenges and threats, such as data breaches, privacy violations, reputational damage, legal liabilities, and compliance issues. Therefore, an enterprise needs to balance the business benefits and risk of using social media in the workplace, and establish a clear and consistent social media policy and governance framework that defines the objectives, roles, responsibilities, standards, and processes for managing social media activities and data.
Some of the sources that support this answer are:
1: This source provides a comprehensive guide on how to create a social media governance plan that covers the key elements of a social media policy, compliance management, security and risk mitigation, decision-making and approval workflow, and crisis management.
2: This source discusses the gaps, risks, and opportunities of social media governance in the context of Australian public communication. It identifies some of the best practices and recommendations for developing and implementing a social media strategy that aligns with the organizational goals and values, as well as the legal and ethical obligations.
3: This source explores the social media governance challenges and solutions for financial services companies. It highlights the importance of balancing the business benefits and risk of social media, and suggests some of the key steps to achieve effective social media governance, such as conducting a risk assessment, defining a social media policy, establishing a governance structure, monitoring and measuring performance, and reviewing and updating the strategy.

Data stewards are primarily responsible for applying frameworks for the governance of IT to balance the need for security controls with business requirements, as they are the custodians of the data quality, integrity, and security within an organization. Data stewards define and implement data policies, standards, and procedures, as well as monitor and report on data compliance and performance. Data stewards also collaborate with other stakeholders, such as data owners, data users, and data scientists, to ensure that the data is aligned with the business objectives and meets the regulatory and ethical requirements.
Data scientists, data analysts, and data processors are not primarily responsible for applying frameworks for the governance of IT, as they are more focused on the technical aspects of data collection, analysis, and processing. Data scientists use advanced methods and tools to extract insights and value from data. Data analysts use descriptive and inferential statistics to explore and interpret data. Data processors perform operations on data, such as entry, validation, transformation, storage, and retrieval.
References := What is a Data Steward? | Informatica; Data Governance Roles: The Ultimate Guide | Collibra; Data Governance Roles: Who Does What? | erwin; [What is IT governance? A formal way to align IT & business strategy].

The best way for IT to prepare for a transformation initiative by leveraging emerging technology that will have a significant impact on existing products and services is to assess the impact on the existing IT strategy. An IT strategy is a plan that defines how IT will support the business strategy and objectives, and how IT will deliver value to the enterprise1. By assessing the impact of the emerging technology on the existing IT strategy, IT can determine whether the current IT vision, mission, goals, and capabilities are aligned with the transformation initiative, and whether they need to be revised or updated2. Assessing the impact of the emerging technology on the existing IT strategy also helps IT to identify and prioritize the opportunities, challenges, and risks that the emerging technology may bring, and to develop appropriate solutions and responses3. Assessing the impact of the emerging technology on the existing IT strategy also helps IT to communicate and collaborate with the business stakeholders, and to ensure that the IT investments are aligned with the business needs and expectations4.
References := IT Strategy: What is it?, How to create an effective IT strategy in 2022, Emerging Technology Strategy: A Guide for CIOs, Maximizing Emerging Technology Adoption Benefits - Gartner

To prevent an IT system from becoming obsolete before achieving its planned return on investment (ROI), it is crucial to manage the benefit realization throughout the entire lifecycle of the system. This approach involves continuously monitoring and adjusting the system to ensure it delivers the expected value and benefits from inception through decommissioning. This proactive management helps in adapting to changes in technology and business environments, thus extending the relevance and utility of the IT system. Obtaining independent assurance, defining IT and business goals, and ordering an external audit are important practices but do not directly address the ongoing management of the system's value delivery and adaptability over time.