Data Locality versus Centralization. Where is the sweet spot for microservices?

We're trying to figure out where to put our data in our microservices setup. So, keeping data with its service can make deployments simpler and cut down on how much services rely on each other. But, putting some data stores in one central spot can be good too. You get easier analytics, consistent info across different parts of the system, and simpler management for special databases. Think about it, a user profile service probably has its own database. But a global audit log or settings that affect multiple services, those might be better off centralized. What do you use to decide when to keep data local versus when to go for a more central approach? This is especially tricky as we add more microservices. Have you seen any good or bad ways of doing this?