The Value of Data Governance & Performance Measurement
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The document discusses the importance of data governance and performance measurement in enterprises, emphasizing how ObservePoint can help ensure data quality, optimize customer experiences, and enhance growth and ROI through actionable insights. It identifies common data collection challenges businesses face and presents ObservePoint's automated solutions for improving data accuracy and unifying data across various platforms. Ultimately, the text highlights the benefits of using sophisticated attribution models and ongoing data validation to foster decision-making confidence and drive business success.
The Value of Data Governance & Performance Measurement
- 1. The Value of Data Governance & Performance Measurement How enterprises use ObservePoint to ensure quality data, optimize customer experiences, and drive growth and ROI with actionable insights. The goal of your company’s online (and offline) presence is to generate new revenue. And generat- ing that revenue depends on your ability to accurately capture the end-to-end customer journey and leverage that information to improve marketing and sales strategies. For this process to work, you need to feel confident that your tools and technologies are collecting accurate, complete data that will drive growth. However, the teams responsible for collecting and analyzing data often encounter a myriad of challenges, including: Multiple hands or teams touching site pages, resulting in duplicate, missing, or broken tags that impede data collection or interrupt user experiences Manual data cleansing processes that are time-intensive and susceptible to error Disorganized campaign tracking systems (such as a series of Excel spreadsheets) that track data in silos and at different levels of granularity, resulting in data gaps that weaken insights Decision-makers who lack confidence in the data collected and/or insights derived from a faulty attribution model Through automated performance measurement and data governance, ObservePoint solves the problems above and helps you make better use of your time, investments, and insights. 1
- 2. The ObservePoint Solution 1. Ensure Data Quality Standardize Obtaining quality data starts with ensuring that data is collected in a standardized, reliable manner. While many businesses attempt to standardize data manually (typically with a system of Ex- cel spreadsheets), this process is complex and time-consuming. Spreadsheets are often hard to manage, housed in different departments, and susceptible to errors, such as multiple nam- ing conventions (think email vs. e-mail) being used to track the same attribute. ObservePoint’s performance measurement solution replaces homegrown spreadsheets and addresses these problems by allowing you to: Track dozens of attributes with universal Touchpoint IDs that create a shared tax- onomy for labeling metadata (thereby eliminating human error in the code creation and management process) Create and validate dynamic tracking URLs en masse Update metadata whenever necessary With data effectively standardized through au- tomation, you can save time and trust that no critical insights slip through the cracks. Test Data is only helpful if it’s accurate, and with how frequently websites and apps are updated and interrupt the data collection processes, the only way to ensure accuracy is with focused, consis- tent testing of the technologies collecting your data. “We invested decent marketing dollars into creating video testimonials, so we implemented analytics on those play- ers to see who watched and what they did as a result. One day, without telling us, the development team made a very minor change to improve the video on mobile and it caused the entire analyt- ics package deployed on the player to break. But because we had an Observe- Point audit running, we caught it that same morning and had it fixed by the end of the day.” Manager, Digital Analytics Product Team, Education An ObservePoint Customer Manually, this requires combing through code one page at a time to investigate the function- ality of individual tags. Fortunately, there is a faster, trusted way to ensure accuracy: auto- mation. With ObservePoint’s data governance solution, you can schedule automatic Web Audits that crawl your site looking for missing, duplicate, or unauthorized tags and alert your team to errors. Proactively running Web Audits with Observe- Point ensures that—even with multiple hands making frequent updates to your site—errors are caught before they interfere with data collec- tion or user experiences, so you can increase company-wide trust in critical insights and make decisions based on accurate data. 2
- 3. 2. Optimize Customer Experiences Unified, End-to-End Journey Tracking To optimize customer experiences, you need to understand the complete customer journey, and doing so requires unifying data collected by all your tools—and at every stage of the journey. The problem? This data is often structured in a variety of ways and measured at different levels of granularity, making it nearly impossible to unify data manually. Fortunately, there is a way to achieve true data unification. ObservePoint’s performance measure- ment solution is built on the foundation of a standardized taxonomy (which ensures data is mea- sured at the same level of granularity) and integrates with the other technologies in your stack so that you can capture and unify data across: Web and mobile Digital and offline Paid, earned, and owned media Marketing, sales, product, and service departments With all the above data acting as one cohesive set, your team can analyze the end-to-end cus- tomer experience from within an easy-to-use platform. Journey Testing Just as important as unifying customer data is testing to ensure that critical paths are functioning properly and tracking data is being collected at every stage of the journey. It is possible to manually click through the paths on your site to validate functionality and tracking, but doing this for every path (and after every website update) is tedious and time-consuming. ObservePoint’s data governance solution allows you to set up Web Journeys that automatical- ly validate critical paths and alert you to tracking and experience errors. By catching these errors when they occur, your team can: Ensure streamlined path-to-purchase flow Reduce advertising spend that is wasted on broken or misdirected journeys Use more accurate data to improve customization and user experiences (and drive sales!) “When we started with ObservePoint we found that 2 to 4% of our advertisements pointed people to landing pages that didn’t exist anymore. What an awful experi- ence—your introduction to our brand was a 404 page.” Senior Analyst, Analytics Technology, Travel Industry An ObservePoint Customer 3
- 4. 3. Drive Growth & ROI with Accurate Insights Sophisticated Attribution To drive growth, you need a trusted attribution model that provides accurate insights about which strategies are working and which are not. The problem? No single attribution model—from simple models like first- or last-touch, to multi-touch models like even-touch or U-shaped—can provide a holistic picture of how your efforts are performing. That’s why ObservePoint’s performance measurement solution allows you to use multiple rules- based models, as well as algorithmic attribution, to analyze your data. Our algorithmic model at- tributes credit by collecting data from all customers—including those who do not convert on your site—so you can pinpoint the specific channels, publishers, and content types that influence (or hinder) conversion. By using multiple attribution models to gauge how customers interact with your brand, you can more accurately give credit where credit is due and use those trusted insights to improve the ROI of your investments. Continued Data Validation Testing your site to verify data is being collected properly and validating critical pathways is no one-time checklist item. With multiple teams implementing new tools and making frequent chang- es to your site, ensuring data accuracy is only possible through ongoing data monitoring and vali- dation. By using ObservePoint’s data governance solution to schedule regular Web Audits and Web Jour- neys, you can prevent inaccurate or incomplete data from showing up in reports and have ongo- ing peace of mind about data collection and accuracy. With trustworthy data, you can then promote company-wide confidence in your insights and cre- ate strategies that consistently drive growth. “With ObservePoint we have consistency and that increases the quality of the data. More importantly, the business partners that are relying on that data have greater confidence in it, and greater confidence in their decisions.” Senior Manager, Digital Experience, Financial Services Industry An ObservePoint Customer 4
- 5. Ensure Trusted Data with ObservePoint With ObservePoint’s automated data governance and performance measurement solu- tions, you can: Ensure that data is accurate and complete Reduce time spent on manual testing and cleansing Eliminate data silos Implement sophisticated attribution on the end-to-end journey With higher quality data in your arsenal, you can create amazing customer experiences and implement informed strategies that drive growth. Click below to see how ObservePoint can help you ensure data quality, optimize customer experiences, and drive growth and ROI with accurate insights. 5 GET STARTED