Define your data, or be defined by it
It is easy to take the data that passes through our CRM and marketing teams for granted. It simply passes from point A to point B, without much thought as to what it is, where it’s coming from, or where it’s going. But, as with anything in life, what you don’t pay attention to can come back to bite you.
When data is poorly governed, it can cause a multitude of issues and create a domino effect of problems. Duplicate records, incorrect targeting, false readings, and inaccurate attributions can all lead to wasted resources and missed opportunities.
That’s why data governance is so important. It is the process of making sure that your data is accurate and consistent, and aligned with any relevant regulations and internal taxonomies. It enables you to avoid pitfalls and ensure that your data is of the highest quality.
Data governance starts with developing a taxonomy and making sure everyone is using the same terms to describe the same data. This ensures that data is consistent across the entire organization and can be used efficiently and effectively. It also gives teams a starting point to develop data policies and processes that are tailored to their specific needs.
From there, organizations need to implement an ongoing process for data quality. It should include regular checks to ensure that the data is up to date and accurate, and that any changes or updates are documented and tracked. Having a dedicated team to handle data governance can help to ensure that these processes are followed and that any issues are addressed quickly and efficiently.
Data governance is essential for any organization that wants to maximize the value of its data. It is the key to unlocking the potential of your data and leveraging it for maximum impact. By taking the time to get it right, you’ll be guaranteed to see the rewards.