Use Case By Industry
Retail
NexaInsight’s solution empowers retail organisations in several aspects to understand their data and customer behaviour:
NexaInsight’s solution empowers retail organisations in several aspects to understand their data and customer behaviour:
Retail businesses collect and manage vast amounts of customer data, from purchase history to demographics. According to a survey by Salesforce, "84% of customers say the experience a company provides is as important as its products and services" (Salesforce, 2019). A data governance application can help retail businesses improve the customer experience by enabling better data management and more personalized service delivery.
Retail businesses are under constant pressure to increase sales and revenue. According to a survey by Aberdeen Group, "Companies with strong data governance programs achieve 9% higher revenue growth" (Aberdeen Group, 2016). A data governance application can help retail businesses increase sales and revenue by providing better insights into customer needs and preferences, enabling more targeted marketing and sales efforts.
Retail businesses rely on accurate inventory data to manage their supply chains and ensure that products are available when and where customers want them. According to a survey by Retail Systems Research, "77% of retailers believe that a single view of inventory across all channels is important for their business" (Retail Systems Research, 2017). A data governance application can help retail businesses manage their inventory more effectively by providing a centralized repository for all inventory data, enabling better inventory tracking and management.
Retail businesses are subject to numerous regulations and compliance requirements, such as GDPR and PCI DSS. According to a survey by TrustArc, "84% of companies believe that complying with data protection regulations will increase consumer trust" (TrustArc, 2018). A data governance application can help retail businesses manage compliance and mitigate risk by providing clear guidelines for data management and protection, enabling better risk assessment and management.
Retail businesses manage vast amounts of sensitive data, including customer information and payment data. According to a survey by IBM, "The average cost of a data breach for retail businesses is $3.86 million" (IBM, 2021). A data governance application can help retail businesses protect this data from unauthorized access or breaches by implementing clear guidelines for data access, usage, and protection.
Take charge of your data with NexaInsight’s data solution and dive deeper into the dataverse.
The public sector collects and manages vast amounts of data, from citizen records to economic indicators. According to a survey by Gartner, "Through 2022, organisations implementing data governance programs will reduce their time to market for business intelligence by 30%" (Gartner, 2019). A data governance application can help public sector organisations manage this data more efficiently by providing a central repository for all data assets and metadata, enabling better data discovery and management.
The public sector is responsible for delivering critical services to citizens, such as healthcare, education, and social welfare. According to a survey by Deloitte, "69% of public sector organisations are using data to improve service delivery and citizen experience" (Deloitte, 2020). A data governance application can help public sector organisations improve service delivery by providing better insights into citizen needs and preferences, enabling more personalized and effective service delivery.
The public sector is under constant pressure to reduce costs and improve efficiency. According to a survey by Accenture, "84% of public sector organisations cite cost-cutting as a top priority" (Accenture, 2020). A data governance application can help public sector organisations reduce costs by enabling better data management and more efficient use of data assets.
The public sector is accountable to citizens and stakeholders for its actions and decisions. According to a survey by McKinsey, "Transparency is the top public-sector priority for citizens globally, with 84% saying it's important or very important" (McKinsey, 2020). A data governance application can help public sector organisations improve transparency and accountability by providing clear guidelines for data management, usage, and protection, and enabling better reporting and auditability.
The public sector manages vast amounts of sensitive data, including citizen records, healthcare information, and financial data. According to a survey by Ponemon Institute, "The public sector has the highest average cost of a data breach, at $7.2 million" (Ponemon Institute, 2020). A data governance application can help public sector organisations protect this data from unauthorized access or breaches by implementing clear guidelines for data access, usage, and protection.
NexaInsight solution can enable the financial service sector in several ways which includes
Financial services firms are subject to numerous regulations, such as GDPR, CCPA, HIPAA, and PCI DSS. According to a survey by EY, "72% of financial institutions believe that the regulatory environment will continue to become more complex over the next two years" (EY, 2020). A data governance application can help financial services firms comply with these regulations by providing clear guidelines for data management, usage, and protection.
Financial services firms need to manage risk effectively to protect their clients and their own interests. According to a survey by Accenture, "49% of financial services firms cite operational risk as a top-three risk" (Accenture, 2020). A data governance application can help financial services firms manage risk by providing a central repository for all data assets and metadata, enabling better risk assessment and mitigation.
Financial services firms are vulnerable to fraud, such as money laundering and identity theft. According to a survey by PwC, "Global economic crime rates have remained high, with 47% of organisations reporting at least one incident of economic crime in the past two years" (PwC, 2020). A data governance application can help financial services firms prevent fraud by providing better control over data access, usage, and protection.
Financial services firms collect vast amounts of customer data, including transaction history, credit scores, and demographic information. According to a survey by Deloitte, "70% of financial institutions are using customer data to generate insights that inform business decisions" (Deloitte, 2020). A data governance application can help financial services firms manage this data more effectively and gain valuable insights into customer behaviour, preferences, and needs.
Financial services firms rely on accurate data for critical business decisions, such as credit scoring and risk assessment. According to a survey by Experian, "Only 27% of financial services firms have high confidence in their data quality" (Experian, 2019). A data governance application can help financial services firms improve data quality by providing consistent rules for data management and improving data accuracy.