9 Companies Who “Got it Right” with Data Governance 

January 22, 2024
9 Companies Who “Got it Right” with Data Governance 

Staying on top of data governance isn’t easy, but reading up on the current trends will help. In this blog, we’ll look at some of the top companies who “got it right” with data governance, so you know what’s possible.  

Business Challenges or Initiatives: 

Data Privacy and Compliance 

You can gain trust by protecting personal data. Data privacy remains a top priority for businesses amidst evolving regulations. With increased reliance on digital technologies, the volume and sensitivity of collected data have surged. Non-compliance can lead to severe penalties, reputational damage, and loss of customer trust. Fortunately, these folks are staying ahead by taking a closer look at their data privacy program. Check it out!  

  • A world’s leading ship classification needed to find out which data privacy laws apply to them and how to follow them. They took steps to comply by updating applications, breaking down data silos, and creating a solid data governance plan. With 200 upgraded office locations, they found and fixed issues, processes, and technologies that could lead to noncompliance. They now have a comprehensive data governance program that reduces risk and keeps them compliant. 
  • A prominent health insurance provider needed a centralized data system for accounting, regulations, and decision-making, while grappling with quality issues. A tailored data governance solution was implemented, defining roles and data lifecycle rules to ensure successful adoption. The result? Trust in data, compliance assurance, and informed decision-making. 
  • A large-scale transportation company needed to line up their data practices with CCPA rules. They put in strong data privacy processes, made data management better, and smoothly achieved CCPA compliance. This showed everyone they’re serious about keeping data private and following the rules. The payoff? They achieved compliance, built customer trust, and streamlined operations.  

Data insights and customer experience 

You can use (and trust) your data to improve the customer experience and make smart business decisions. Data can tell us a lot about our customers and our business, but if it’s outdated and hard to access, it can block us from making informed business decisions that drive value. Let’s explore how some companies leverage their data for intelligent business decisions that benefit both their operations and customers! 

  • A health insurance payer, serving more than 3.5 million members, needed faster insights into their patient populations. To efficiently manage the vast amount of data involved, they undertook an end-to-end data migration and established a single data warehouse. The result? On-demand access to healthcare data, a significant reduction in operating costs, and a 40 percent decrease in data processing time. 
  • A global airline company needed to address data quality issues to improve traveler experience. To address this, the company implemented a data quality framework and software tools. The outcome? Improved data integrity, optimized operational efficiency, enhanced customer experiences, and strengthened regulatory compliance. 
  • A post-secondary institution needed to manage student data at scale and reduce costs. To effectively handle the data processing, reporting, and overall management of their student populations, they migrated to a single, cloud-based solution. The outcome is a streamlined process that facilitates the delivery of student success at scale.  

Data management and modernization

You can save time and money with modern data solutions. Sometimes systems are slow, time-consuming, costly and don’t give you the information you need. Storing data in a modern environment is the key to overcoming these barriers, offering improvements and adaptations to meet today’s needs. Explore how companies have embraced data modernization for quicker, more accurate insights! 

  • A payment solutions provider needed to increase customer subscriptions and decrease costs. How? They implemented modern data management tools to support data pipelines, governance, and analytics. Since then, they’ve witnessed a 20 percent decrease in operation costs and a 10 percent increase in customer subscriptions because of these modern data solutions. 
  • A leading national bank needed distinct and accurate records of their customers. In other words, they wanted to increase their customer “uniqueness.” In response, the bank transitioned its CRM platforms onto a modernized data management platform. This move streamlined customer profile entry, eliminated 7,000 duplicates, and eradicated 100 percent of free text. Customer uniqueness skyrocketed from 23 percent to an impressive 95 percent. 
  • A West Pacific bank needed one place to manage and access their data. To get there, they developed a strategy to modernize their data management and data operation platform to realize immediate results and long-term success. The bank’s data now exists on a single platform with the ability to run anywhere. Plus, they are more equipped to use AI to drive business value.  

Not sure where you’re at with data governance? Find out now by taking our quick self-assessment. Just click the link below!

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