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WE VALUE YOUR PRIVACY We and our partners store and/or access information on a device, such as cookies and process personal data, such as unique identifiers and standard information sent by a device for personalised ads and content, ad and content measurement, and audience insights, as well as to develop and improve products. With your permission we and our partners may use precise geolocation data and identification through device scanning. You may click to consent to our and our partners’ processing as described above. Alternatively you may access more detailed information and change your preferences before consenting or to refuse consenting. Please note that some processing of your personal data may not require your consent, but you have a right to object to such processing. Your preferences will apply to this website only. You can change your preferences at any time by returning to this site or visit our privacy policy. MORE OPTIONSAGREE Skip to content TECHREPUBLIC Search Close Search * Top Products * AI * Developer * Payroll * Security * Project Management * TechRepublic Academy * Innovation * Cheat Sheets * Big Data * Tech Jobs Toggle TechRepublic mobile menu More * TechRepublic Premium * Top Products * AI * Developer * Payroll * Security * Project Management * TechRepublic Academy * Innovation * Cheat Sheets * Big Data * Tech Jobs * See All Topics * Sponsored * Newsletters * Forums * Resource Library TechRepublic Premium Join / Sign In ACCOUNT INFORMATION TechRepublic close modal Image: ipopba/Adobe Stock UNDERSTAND THE BASICS OF DATA GOVERNANCE IN E-COMMERCE * * * * * ACCOUNT INFORMATION TechRepublic close modal SHARE WITH YOUR FRIENDS Understand the Basics of Data Governance in E-Commerce Check out this article I found on TechRepublic. Your email has been sent by Collins Ayuya in Big Data on October 12, 2023, 10:02 AM EDT UNDERSTAND THE BASICS OF DATA GOVERNANCE IN E-COMMERCE Data governance is necessary in e-commerce as it ensures that decisions are based on quality data while simultaneously managing risk and upholding compliance standards. Data governance serves as the backbone for businesses to manage and utilize data effectively. It begins with the inventory and classification of available data, guided by automated and intelligent data governance tools. Once data is organized, policies are created to manage its usage, and data stewards are appointed as subject-matter experts. In the realm of e-commerce, data governance takes on added significance. High-quality data is not just a requirement but a critical asset for making timely and accurate decisions. Moreover, with e-commerce platforms capturing sensitive consumer data, governance becomes crucial for ensuring compliance and security. Jump to: * How data governance works in e-commerce * Why is data governance important for e-commerce companies? * What are the benefits of data governance for e-commerce? * Employing data governance in e-commerce HOW DATA GOVERNANCE WORKS IN E-COMMERCE E-commerce businesses collect data from many sources, including web analytics, email and marketing tools, online transactions, surveys and more. This information is consolidated and consumed by relevant stakeholders. Correctly implemented data governance initiatives ensure these stakeholders have access to data and that the data is of high quality (Figure A). Figure A Data governance dashboard in Tableau. Image: Tableau Governing and integrating these data sources in e-commerce means teams can generate actionable insights on customers, trends, products, regions and more. These insights have a huge part to play in: * Informing gaps to adapt to consumer and market trends. * More effective customer retention and engagement. * Optimization of pricing, inventory and labor allocations. * Informing innovation as well as new and untapped market opportunities. SEE: For a broader picture of the workings of data governance, read our guide on how data governance works. WHY IS DATA GOVERNANCE IMPORTANT FOR E-COMMERCE COMPANIES? E-commerce businesses that lack a clear data governance strategy open themselves up to challenges like data breaches and regulatory fines, which can ultimately result in loss of customer trust. Business growth and brand reputation can also take a hit. As a result, the importance of data governance should not be understated in e-commerce. IMPROVING VISIBILITY, RELEVANCE AND CONSISTENCY Digital outlets and advanced customer journeys have led to an influx of diverse data for e-commerce companies. This data, ranging from customer purchases to inventory, needs seamless updating across multiple platforms. However, the responsibility often falls on various teams, risking the introduction of data silos and obsolete data. An efficient and unified data governance system helps e-commerce companies efficiently manage such distributed data (Figure B). Such a system guarantees that data remains relevant and consistent across platforms and prevents data silos. This gives these companies greater visibility to escalate their operations. Figure B Dashboard of consolidating data in SAP. Image: SAP LIMITING DATA EXPOSURE MORE ABOUT DATA CENTERS * 8 Best Network Monitoring Tools for 2023 * Impact of Recent Australian Data Centre Outages on Businesses and Risk Mitigation * Tech Takes Diverse Approaches to Sustainability Including Net Zero Carbon by 2030 * Server Deployment/Migration Checklist Data should seamlessly circulate throughout the ecosystem of stakeholders in e-commerce and retail. While unrestricted data flow can improve workflow efficiency by preventing data silos, its circulation may pose safety and security concerns. However, the flip side is that security breaches involving sensitive customer data often destroy relationships between customers and brands. SEE: Check out this IT staff systems and data access policy from TechRepublic Premium. What data governance systems give e-commerce brands are security features such as two-factor authentication, data encryption and tokenization to limit access to sensitive data. DEALING WITH DATA INCONSISTENCIES The data repositories and warehouses kept by e-commerce companies may suffer from data inconsistencies. A change in one repository means that all the other repositories need to be updated to reflect the same change, which may become complex and overwhelming over time. Inconsistent data impacts sales, revenues, productivity and overall strategy. However, a robust data governance system takes advantage of data pipelines to help curate, modify and thoroughly validate raw data. E-commerce businesses resultantly enjoy better data visualization and easier, faster and more accurate data analysis. WHAT ARE THE BENEFITS OF DATA GOVERNANCE FOR E-COMMERCE? While the importance of data governance focuses on the necessity and the challenges it solves, the benefits point to the positive impacts and the value it adds to e-commerce businesses. Data governance frameworks benefit e-commerce businesses in areas like: * Overall performance: Data governance enhances efficiency, enabling teams to quickly find accurate data and generate insights. * Data quality: Consistent tracking of data quality metrics provides visibility into team and stakeholder data usage. * Better business insights: E-commerce businesses can identify weak performance areas, gain a competitive edge and discover new revenue streams. * Improved decision-making: High-quality data under proper controls facilitates quick and accurate decision-making while maintaining privacy and compliance. * Data ownership, responsibility and accountability: Data governance establishes clear ownership and accountability, guiding e-commerce teams on who to consult for data-related issues. EMPLOYING DATA GOVERNANCE IN E-COMMERCE Data governance is proving to be a necessary component of e-commerce. Correctly implementing a robust data governance solution will position e-commerce companies for new opportunities, greater security and customer confidence, more sales and e-commerce growth. Employing data governance best practices will allow e-commerce businesses to understand how to establish and maintain data governance and position themselves for growth. SEE: Explore our data governance overview to learn more. SUBSCRIBE TO THE DATA INSIDER NEWSLETTER Learn the latest news and best practices about data science, big data analytics, artificial intelligence, data security, and more. Delivered Mondays and Thursdays Email Address By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at any time. Subscribe Collins Ayuya Published: October 12, 2023, 10:02 AM EDT Modified: October 12, 2023, 10:00 AM EDT See more Big Data articles ALSO SEE * Data Scientist Survey: Do Tech Leaders Believe the AI Hype? (TechRepublic) * 9 Best Data Science Tools and Software of 2023 (TechRepublic) * 8 Best ETL Tools and Software of 2023 (TechRepublic) * Hiring Kit: GDPR Data Protection Compliance Officer (TechRepublic Premium) * Big Data: More Must-Read Coverage (TechRepublic on Flipboard) WHITE PAPERS, WEBCASTS, AND DOWNLOADS CHECKLIST: NETWORK DOCUMENTATION Tools & Templates from TechRepublic Premium View This Now INFOSEC4TC PLATINUM MEMBERSHIP: CYBER SECURITY TRAINING LIFETIME ACCESS Training from TechRepublic Academy Find Out More THE ALL-IN-ONE 2023 SUPER-SIZED ETHICAL HACKING BUNDLE Training from TechRepublic Academy Learn More PDF CONVERTER PRO: LIFETIME LICENSE Tools & Templates from TechRepublic Academy Give It A Try! INTRODUCTION TO CHATGPT Training from TechRepublic Academy Learn More * * * * * ACCOUNT INFORMATION TechRepublic close modal SHARE WITH YOUR FRIENDS Understand the Basics of Data Governance in E-Commerce Check out this article I found on TechRepublic. Your email has been sent Share: Understand the Basics of Data Governance in E-Commerce By Collins Ayuya Collins Ayuya is pursuing his Master's in Computer Science and is passionate about technology. He loves sharing his experience in Artificial Intelligence, Telecommunications, IT, and emerging technologies through his writing. He is passionate about startups, innovation, new technology, and developing new products as he is also a startup founder. Collins enjoys doing pencil and graphite art and is also a sportsman and gamer during his downtime. * | * See all of Collins's content * Big Data * Data Centers * Data Management * Software EDITOR'S PICKS * Abstract polygonal lamp on digital background. Idea and innovation concept. 3D Rendering TechRepublic Premium TECHREPUBLIC PREMIUM EDITORIAL CALENDAR: POLICIES, CHECKLISTS, HIRING KITS AND GLOSSARIES FOR DOWNLOAD TechRepublic Premium content helps you solve your toughest IT issues and jump-start your career or next project. TechRepublic Staff Published: November 1, 2023, 4:30 AM EDT Modified: November 1, 2023, 5:27 AM EDT Read More See more TechRepublic Premium articles * Image: 2ragon/Adobe Stock Artificial Intelligence 7 BEST AI ART GENERATORS OF 2023 This is a comprehensive list of the best AI art generators. Explore the advanced technology that transforms imagination into stunning artworks. Madeline Clarke Published: September 13, 2023, 8:10 AM EDT Modified: October 26, 2023, 3:38 PM EDT Read More See more Artificial Intelligence articles * Image: fullempty/Adobe Stock Payroll THE BEST CHEAP PAYROLL SERVICES FOR 2023 Find the perfect payroll service for your business without breaking the bank. Discover the top cheap payroll services, features, pricing and pros and cons. Kylie McQuarrie Published: October 3, 2023, 10:47 PM EDT Modified: November 21, 2023, 4:18 PM EST Read More See more Payroll articles * Image: NordVPN Cloud Security NORDVPN REVIEW (2023): PRICING, SECURITY & PERFORMANCE Is NordVPN worth it? How much does it cost and is it safe to use? Read our NordVPN review to learn about pricing, features, security, and more. Luis Millares Published: September 28, 2023, 12:17 PM EDT Modified: October 19, 2023, 11:09 AM EDT Read More See more Cloud Security articles * Image: Nuthawut/Adobe Stock Project Management 10 BEST FREE PROJECT MANAGEMENT SOFTWARE & TOOLS FOR 2023 Free project management software provides flexibility for managing projects without paying a cent. Check out our list of the top free project management tools. Ali Azhar Published: October 5, 2023, 7:56 AM EDT Modified: November 21, 2023, 5:04 PM EST Read More See more Project Management articles * Image: ArtemisDiana/Adobe Stock Cloud CLOUD STRATEGIES ARE FACING A NEW ERA OF STRAIN IN AUSTRALIA, NEW ZEALAND Australian and New Zealand enterprises in the public cloud are facing pressure to optimize cloud strategies due to a growth in usage and expected future demand, including for artificial intelligence use cases. Ben Abbott Published: September 12, 2023, 11:21 AM EDT Modified: October 26, 2023, 2:32 PM EDT Read More See more Cloud articles TECHREPUBLIC PREMIUM * TechRepublic Premium QUALITY ASSURANCE CHECKLIST FOR OUTSOURCED PROJECTS Quality assurance refers to the processes being used to manage the project and to build the deliverables. This is in contrast to quality control, which refers to the activities used to create the deliverables. Because you are not responsible for the creation of the deliverables (quality control), you need to be comfortable that the outsourcer ... Published: November 29, 2023, 4:00 PM EST Modified: November 30, 2023, 9:00 AM EST Read More See more TechRepublic Premium articles * TechRepublic Premium CLOUD COMPUTING POLICY The list of advantages to cloud computing include lowered operational costs, greater technological flexibility and the ability to rapidly implement new systems or services. Gains in business continuity are an especially noteworthy attraction to cloud services, which operate via remote systems that remain running in the event of a local disaster, such as a hurricane ... Published: November 29, 2023, 4:00 PM EST Modified: November 30, 2023, 10:00 AM EST Read More See more TechRepublic Premium articles * TechRepublic Premium QUICK GLOSSARY: BUSINESS INTELLIGENCE AND ANALYTICS Business intelligence and data analytics give tech decision makers a clearer idea of how well their companies are running and whether they’re meeting goals. Because BI incorporates data from across the enterprise — revenue operations, sales, supply chain and logistics — its insight is beneficial in areas such as customer profiling, customer support and market ... Published: November 28, 2023, 4:00 PM EST Modified: November 29, 2023, 9:00 AM EST Read More See more TechRepublic Premium articles * TechRepublic Premium HIRING KIT: VIDEO GAME PRODUCER Even for the smallest and most independent developers, creating a successful modern video game requires the coordination of designers, programmers, testers, artists, musicians, animators and a multitude of other talented personnel. 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