Data Monetization and Data Quality

Traditionally data quality management has revolved around making data fit for purpose in various business processes and thus data quality has contributed indirectly to business outcomes, as the business benefits were measured and harvested by results created in these business processes.

This situation has also made it very hard to create distinct business cases for data quality improvement. Most often data quality improvement and related disciplines and data governance, Master Data Management (MDM) and Product Information Management (PIM) has been part of wider business cases concerning for example Customer Relationship Management (CRM) and eCommerce perhaps under an even wider specific business objective.

In today’s data driven business world and drastic rising top-level appetite for digital transformation we see more and more examples of how data can be used much more directly to create business outcome through new or fundamentally reshaped business services and business models.

WebinarsOne example close to me is how data quality via completeness of product information can lead directly to selling more online as told in the post Where to Buy a Magic Wand?

On the 7th August I will elaborate on these themes in a webinar together with Rado Kotorov. The webinar is hosted by Information Builders and you can learn more and register on the Data Monetization webinar here.

 

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