by Angela Guess
The Data Science Series has posted an article regarding how data governance is needed to clean up customer data. The article states, “For decades, businesses have collected customer data, ostensibly in exchange for some reciprocal value. But over the years, their treatment of that data – from surreptitious capture to analysis to reselling — has become too liberal. According to Forrester, organizations need to set up a data governance policy. ‘Companies have always captured customers’ personal data, ostensibly to deliver better, more personalized experiences,’ writes Fatemeh Khatibloo in the new Forrester report ‛How dirty is your data’.”
It continues, ”Customers have willingly shared that information because they thought that it would be kept secure and because it provided them with tangible value. But a few decades ago, marketers realized that this data was extremely valuable for myriad purposes: business and merchandise planning; identifying segments of similar customers; and collaborating with complementary businesses. Thus was born the database marketing industry and, with it, the first incidences of largely unpermissioned use of personal data. According to Forrester, the explosion of digital data has allowed marketers to target customers in increasingly granular ways. ‘Remarketing, real-time site optimization and location-based mobile targeting all rely on data captured and applied largely without the customer’s explicit permission — and often without their knowledge’.”
