3 Ways Companies Gain a Competitive Edge With Data Governance
Data governance expert discusses how effective data governance aids decision making, powers innovation, and improves omnichannel retailing—in a new article from Messaging Architects
Messaging Architects, an eMazzanti Technologies Company and data governance expert, explains three ways companies gain a competitive edge with data governance in a new article. The informative article first describes how organizations sit on mountains of data with often untapped potential.
The author then explains how data governance aids data-driven decision making. He briefly shows how data powers innovation, using Netflix as an example. He concludes by explaining how data governance improves omnichannel retailing.
“Data has the potential to revolutionize decision making, power innovation and drive marketing,” stated Greg Smith, Vice President of Services Delivery at Messaging Architects. “Successful businesses find their competitive edge with data governance.”
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Below are a few excerpts from the article, “3 Ways Companies Gain a Competitive Edge with Data Governance.”
Data-Driven Decision Making
“While some business leaders pride themselves on running their companies by gut instinct, wiser executives look to data. For instance, Southwest Airlines has a long history of using data to competitive advantage. In one project, they were able to use data analysis to improve fuel consumption forecasting, thus driving down costs.”
“Data drives innovation in industries across the board, from healthcare to science, manufacturing to entertainment. For instance, Netflix used predictive data analytics to destroy Blockbuster in the 1990s. They have continued to use data to drive innovation, replacing mail-order with streaming and then generating popular original content such as ‘House of Cards.’”
Improve Omnichannel Retailing
“The retail industry has seen a huge shift in recent years. Malls across the country see less foot traffic and more empty shops, while customers shop online. Alternatively, customers may order an item online but return it in the store. Retailers that manage and use data wisely navigate the shift with relative ease and leap past the competition.”
Start Building a Competitive Edge with Data Governance
Data governance’s can mean the difference between a company that struggles to keep up with change and one that adapts to and even predicts future trends. However, cloud migration, the IoT and ever-complex privacy regulations make effective data management increasingly challenging.
The data experts at Messaging Architects have the tools and expertise to help business leaders categorize and manage data for optimum benefit. They assist in implementing information access controls and multi-faceted cybersecurity to ensure regulatory compliance and protect vital assets.