In the last few years, many organizations focused on how to get an information governance program started with an emphasis on people and processes. But today, leading edge organizations use metrics as a way to optimize and demonstrate the business value of governing information.
Metrics can help you better achieve compliance to internal and regulatory controls, meet client satisfaction goals, manage resource capacity, and monitor improvements in data quality over time.
Here are the types of metrics seen in leading edge organizations:
Data quality assessment
This requires criteria and metrics for enterprise data to understand if your company’s data is fit for use by the business. It is performed at the beginning to assess the state of your data quality and provides a baseline. This type of metric is foundational to an information governance program because it forms the basis for your information governance policies and standards. Assessments are performed on an ongoing basis to maintain compliance.
Productivity and service levels
If your information governance organization is a shared service for the company, it is important to provide proof of organizational value with metrics on client satisfaction, service level, productivity, data quality performance metrics and trends. Productivity benefits are achieved through continuously execution of process efficiency improvement initiatives, and exploiting new technologies. Some examples include:
- Transaction Volume Trend
- Cost per Transaction Trend
- Maintenance Cost Trend
Marketing return on investment
Ultimately you want to show tangible business impact of information governance. By converting legacy systems to a scalable data management platform that offers integrated data quality and master data management capabilities, organizations can better measure campaign effectiveness. Some organizations have seen improvements in targeted marketing with lower cost-per-response and lower postal costs.
By achieving a single view of your customer, you can also improve your customer service levels. Some organizations have seen call center productivity increase by 20%.
As we look forward to another exciting year for information governance, what are the areas that you should measure to advance your program?