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June 2017, Vol. 5, No. 3

Customer data mining needs a governance plan to propel sales

Five years ago, most organizations probably didn't see a whole lot of difference between enterprise-wide data governance and customer data governance. Today, however, it's increasingly critical to add a layer of business rules so your data mining engines can find more profitable sales opportunities and drive better customer relationships. Data governance, in the traditional sense, involves keeping data consistent and accurate across enterprise systems. For those entities in regulated industries, governance also includes a layer of compliance rules that typically limit access to protected information. That can also mean "de-identifying" information when used for research purposes or dissemination on a wider stage. Inaccurate or inconsistent data in customer interactions can lead to inappropriate contact that can possibly damage a company's relationship with a customer. Customer data governance shares the principles of traditional data governance, while adding business considerations to rein in potential issues with customer data ...

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