Many companies are investing significant amounts in customer analytics to drive their business and seek new ways to offer value to their customers. However, much of the potential value of that investment is at risk because data governance practices have not kept pace with the ways in which data is being used.
With the investment in customer big data programmes growing, the potential value add for companies that get this right is significant. However, success demands a robust control environment. Companies that underinvest or delay their investment in their control environments over customer big data, threaten that investment. Aside from the fact that a strong control environment have significant benefits, rising expectations of confidentiality and security in contracts, law, and regulation, as well as the potential from brand damage when data is leaked or misused, are quickly making this a business imperative. The companies that will ultimately succeed with customer big data are those who have a strategic and proactive framework that can get consistent and more reliable insights while carefully protecting that data.
To gain a comprehensive perspective on data governance as a customer analytics investment, contact the Deloitte TechSights Africa team.