What refers to the organizational process of identifying and inventorying data assets?

The concept of identifying and inventorying data assets is best described by data mapping. Data mapping involves creating a comprehensive representation of data elements within an organization, detailing where data resides, how it flows through different systems, and its relationships among various data sources. This process helps organizations gain insights into their data landscape, making it easier to manage, protect, and utilize data effectively.

By establishing a clear map of data assets, organizations can ensure compliance with regulations, enhance data governance, and improve data management practices. This step is essential for making informed decisions about data security, privacy, and utilization strategies moving forward, thus supporting overall business objectives.