Data Governance In Retail: Whose Data Is It Anyway?

By David Salisbury, VP of Sales and Marketing, Star Cloud Services

In a competitive industry like retail when making marketing decisions, intuition and gut instinct, have taken a back seat to Big Data. Big Data has become more than just a buzzword amongst marketers no matter the industry. In 2015, Big Data rules how commerce decisions are handled whether it is a small family business or fortune 500 company.

The demand for Big Data has increased exponentially as multichannel shopping experiences and mass adoption of consumer technology have become standard. Accessibility to shopper data by retail marketers is absolutely necessary to make better business decisions, but with increased interest comes the need for sensitivity and protection surrounding that data.

As more data becomes available, the debate of who owns the consumers information has brought the need for data governance to the forefront of everyone’s minds. Creating rules and regulations for data is imperative to making consumers feel more comfortable in that their information isn’t being misused while still allowing for retailers to benefit their business.

Data’s Use For Retailers

Nowadays almost any industry can benefit from data. Consumers now have so much power while shopping online or in store, industries such as retail, consumer packaged goods (CPG), insurance agencies, entertainment, and pharmaceutical companies have to rely heavily on data in order to stay competitive and attract and retain consumers.

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