Impact of Implementing Data Governance Frameworks in Financial Institutions

Abstract

Personalized marketing has become a cornerstone strategy for businesses seeking to engage customers on a deeper level and drive conversion rates. Central to this approach is the effective segmentation of customers based on their behaviors, preferences, and characteristics. This white paper explores the importance of enhancing customer segmentation algorithms in the context of personalized marketing initiatives. By leveraging advanced data analytics and machine learning techniques, businesses can refine their segmentation strategies to deliver more targeted and relevant marketing messages to individual customers. This paper explores the pivotal role of implementing robust data governance frameworks within Walmart's financial services division from early 2020 until my contract ended in June 2020. It investigates the development and enforcement of data governance policies, processes, and controls aimed at ensuring data integrity, confidentiality, and availability. By addressing the challenges encountered and strategies employed in establishing these frameworks, the paper illustrates the enhancements in regulatory compliance, data quality, and decision-making processes.