Businesses today struggle with managing vast amounts of data generated rapidly, leading to data silos that hinder collaboration and information-sharing. People often segment data by product, service, and function, and store it in separate locations. This makes it difficult for executives to get a holistic view of their organization’s data in a timely manner. As a result, IT teams spend most of their time managing the data infrastructure – leading to poor data quality and inconsistencies. Dietmar Rietsch’s article at Solutions Review emphasizes the significance of customer data management.
Challenges of Customer Data Management Silos
The challenge for organizations is to unify data silos to achieve better collaboration, insights, and decision-making. This requires appropriate technology and tools to integrate data across departments and functions, thereby improving data quality and consistency. Your high-level executives must be able to access data promptly to achieve meaningful insights from the customer data management functions. By doing so, organizations can improve transparency, efficiency, and trust, leading to better business outcomes.
Steps for Better Customer Data Management
Breaking down data silos is important for organizations to make better use of customer data management and other data assets. Here are some key points on how to achieve this:
- Establish a Data Governance Program – This helps set rules, roles, and processes for ensuring data quality and involves business managers and senior executives.
- Define Data Ownership and Access Controls – Assigning data ownership or stewardship across departments helps evenly distribute the weight of carrying out data usage and security policies.
- Implement a Data Discovery Tool – This allows collated data from various sources to be accessed on a single interface and provides actionable insights via advanced analytics and machine learning.
- Train Users to Find and Use the Right Data – Multi-dimensional training programs are necessary to enable business users to become data-fluent and confident by applying the correct data to their decision-making.
- Build a Data-Driven Culture – Establishing a data-driven culture provides the right kind of vision, structure, tools, and collaborative synergy to empower teams to become data-driven decision-makers effectively.
- Eliminate Data Silos with Usage of the Right Platform – Integrating the right customer data platform solution can consolidate customer data into a single repository. This will enable collaboration and data-driven decision-making, and speed up operations across departments.
To read the original article, click on https://solutionsreview.com/data-management/breaking-down-data-silos-five-essential-best-practices/