Compute-efficient effective tag determination for data assets

Techniques described herein are directed to determining an effective tag for data assets. For instance, each tag associated with a data asset may be associated with certain attributes. Non-limiting examples for such attributes may include a confidence level associated with a source that applied the tag, an applied date at which the tag was applied to the data asset, and/or a hierarchical depth of the data asset to which the tag was applied, as well as additional and/or alternative types of attributes. When a request to determine a tag for a data asset is received, the attributes for all the tags applied to the data asset may be retrieved and/or analyzed to determine which of such tags effectively classifies the data asset. The determined effective tag may be returned to the requesting entity.