Data Dynamics Decoded: Ownership, Governance and Personalized Success

Achieving personalization at scale is a significant challenge for any business. As we interviewed leaders from various industries, we discovered a factor that’s crucial to an effective personalization strategy: data. The key to using data for a successful personalization strategy is to bridge the gaps between disparate data sets and establish clear data ownership and governance. Here are the four focus areas for data utilization management that are essential for crafting positive, impactful personalized customer experiences.

Identifying and Optimizing Data Gaps 

Data will never be perfect, so identifying and optimizing data gaps lays the groundwork for effective personalization — letting businesses play to their data’s strengths while smoothing out its rough edges. However, bridging these data gaps can be challenging, time consuming and may seem like something that won’t make an immediate impact. The secret is to work with what you have and build from there. Begin by assessing your existing data and then transition smoothly into refining your data collection methods.

Taking Advantage of Varied Data Channels 

Access to diverse data sources, like customer interactions across various platforms, enables businesses to predict customer expectations and tailor their offerings across multiple touchpoints. Though the data sources can shed light on customer behavior and preferences, it is important to establish a clear strategy for accessing this data, whether it involves sourcing relevant data from partners or third parties. This is to ensure that they have the legal and operational permissions to access and analyze this data.

Integrating Disparate Data Sources 

Customer data is often scattered across multiple tools, systems and departments. Bringing these scattered data under one “roof” offers a unified, more comprehensive view of the customers. This allows businesses to understand customers’ behaviors and preferences more comprehensively, leading to improved personalization. Data engineering significantly contributes to streamlining data consolidation. Implementing the right data technology and architecture enables effective consolidation and maintains data integrity.

Establishing Robust Data Ownership and Governance 

To remain compliant and mitigate risk, responsible use of both internal and external data should be a part of any personalization strategy. Establishing a robust data ownership and governance policy is critical, which involves defining clear roles and responsibilities for managing and safeguarding data. This structured approach is effective not only for staying compliant with relevant regulatory requirements, but in gaining a customer’s trust as it demonstrates a strict adherence to data protection measures.

Transforming the complexities of data dynamics into opportunities is the key to making your personalization strategy successful. Ready to step up your strategy? Download the full e-book, Mastering Personalization in Customer Engagement – Insights and Strategies from Industry Leaders, to gain deeper insights and actionable steps to meet your personalization goals and exceed customer expectations.