The Expert Guide to Data Governance in Retail

Even before the digital age, data was the lifeblood of retail businesses. Every transaction, customer interaction, and inventory movement generates valuable information. In the past, this was managed with pencil and paper. In today’s digital world, the amount of data available for analysis can be overwhelming, making it essential for retailers to have a robust data governance strategy in place.

Retail data governance is a process of managing and safeguarding data to ensure its accuracy, accessibility, security, and compliance throughout the organization. By adopting a comprehensive data governance approach, retailers can leverage their data assets to make informed decisions across their entire enterprise, achieve expected returns on data-driven technology investments, drive growth, and enhance customer experiences.

In this expert guide, Parker Avery consultants take a deep look at retail data governance, covering definitions, why it is critical, common challenges, and essential capabilities required for success. This guide also explores how retailers can get started shoring up their data governance and master data management environments. While the focus is on data governance in retail, the topics and approaches discussed in this guide are relevant across different business models, including CPG and manufacturing.