Data lineage is becoming more important for companies in the retail industry, and Loblaws and Publix are doing a good job of putting this process into place. Retail businesses may make better decisions, lower risks, and achieve better business results by mapping data lineage and gaining a thorough understanding of how data flows through their organization. In this piece, we’ll look at five reasons why retail businesses should map their data ancestry and give examples from Loblaws and Publix of how they’ve done it.
Upgrading Data Quality
For merchants to accurately depict consumer behaviour and preferences, data quality is crucial. Retailers can find and fix data quality problems before they have an impact on daily operations by mapping the data lineage.
Loblaws, which is the biggest grocery retailer in Canada, used data lineage to make its data better. The company looked at the history of its product data, which helped it figure out which product descriptions were wrong or missing. Following that, Loblaws was able to clean up its product data and increase the precision of its customer, inventory, and loyalty data.
Similar to this, Publix, one of the biggest regional supermarket stores in the US, used data lineage to raise the quality of its data. To find and fix data inaccuracies, the organization traced the history of its customers’ data. As a result, Publix was able to increase the accuracy of its consumer data and comprehend the preferences of its customers.
Make Regulatory Compliance Possible
Retailers need to use data lineage as a key tool to meet legal requirements like the GDPR and CCPA. Data lineage can assist guarantee that this data is managed in a compliant and transparent manner. Retail companies frequently gather sensitive data, such as credit card details.
Loblaws used data lineage to adhere to GDPR requirements. The business traced the history of its customers’ data, enabling it to guarantee compliance with GDPR’s demands for handling personal data.
In a similar vein, Publix established data lineage to abide by CCPA rules. To assure compliance with the CCPA’s obligations for data privacy, the organization traced the history of its customers’ data.
Promote Data Governance
The practice of data governance is essential in the retail sector, especially given the growing volume of everyday customer data acquired. Data lineage gives insight into who is utilizing, how, and when data is being modified.
To better understand how client data moves across its systems, Loblaws created a data lineage map. The company was able to make sure that its customers’ data was safe and in compliance by using this data to establish clear data ownership, set data policies, and put in place data security measures.
Similar to this, Publix traced the path of its data to learn how customer information flows through its systems. The organization made use of this information to create a framework for data governance that ensures the accuracy, consistency, and completeness of the data.
Improve Your Decision-Making
To understand consumer behaviour and preferences, retail organizations need data-driven decision-making processes. Data lineage offers a thorough view of the data’s journey through an organization, facilitating better decision-making.
Loblaws traces the history of its data to aid decision-making. This data is used by the business to spot areas where its customer experience, marketing, and sales methods can be strengthened.
Similar to other companies, Publix supports its data-driven decision-making processes through data lineage. By using this data, the company can better understand the preferences and wants of its customers and enhance its product offerings and marketing plans.
Make Data Integration easier
Integration of data is very important in the retail industry because retailers use data from different sources to learn more about their customers. With data lineage, retailers can see where their data came from, how it was changed, and where it is going.
Loblaws is now able to accurately combine information from different sources because it has mapped where its customer data comes from. With the help of this data, the data was made sure to be consistent, accurate, and current, giving Loblaws a complete picture of its clients.
Similar to this, Publix traced the history of its collection of data to make data integration easier. The organization was able to more effectively integrate consumer data from diverse sources by using data lineage to understand how its data was used in various systems.
In conclusion, data lineage is an important process for retail companies since it gives them knowledge about their data and how it is used internally. By mapping data lineage, retailers can improve data quality, meet legal standards, help with data governance, make it easier to make decisions and help with data integration.
Loblaws and Publix are great examples of how retail businesses can use data lineage to improve their business results. These merchants were able to acquire a full understanding of their data, recognize and address data quality concerns, assure compliance with legal requirements, build data governance frameworks, enhance decision-making processes, and ease data integration by applying data lineage.
Companies must emphasize data lineage to preserve a competitive edge as the retail sector becomes more data-driven. Retail businesses can enhance their awareness of their customers, streamline operations, and spur corporate growth by utilizing data lineage.
Leave a Reply