As an operating system with integrations across dozens of platforms, services and data providers, MediaMath is acutely aware of the need for data governance best practices. We have a responsibility to our clients and partners – not to mention hundreds of millions of consumers – to ensure proper oversight of their data as it flows through our global platform.
At MediaMath, we believe the responsibility extends beyond our walls and out across the industry as a whole. For the health of the industry and the protection of consumer rights, companies must take a forward position in discussing the need for proper data governance, setting standards and best practices and ensuring compliance.
Data governance is a difficult practice to start within an organization because there are hard costs associated with proper compliance, it doesn’t clearly belong in any one department, and it takes cross-departmental buy-in and involvement. The ROI is often not clear to all stakeholders, but it serves as an insurance policy against security or data breaches and is crucial to the development and retention of client trust. Commitment to this practice sends clear signals to clients and consumers that they are working with a mature platform provider.
How do we approach data governance at MediaMath?
- We maintain clearly defined compliance guidelines with regard to data collection, use and retention policies – so clients know exactly how their data is used and for how long.
- We retain complete control. All data is collected, processed and retained within MediaMath’s hosted data centers (which we own and operate). Our clients know exactly where their data is at all times.
- We maintain standards for vetting all data partner who integrate with our platform. These standards ensure providers have clear right and title to the data and follow the appropriate industry guidelines for collection and retention.
- We educate clients at all levels of the organization on the myriad considerations of bridging offline to online data.
- We act as stewards of our client data to ensure they stay within the boundaries of consumer privacy protection and regulation.
- We are proactive in addressing the need for oversight and governance. Our participation on IAB and NAI councils ensures we remain on top of the latest regulations and best practices.
- Our Data Governance expert leads a team of key stakeholders in technology, product, finance, HR and legal to maintain proper oversight and compliance with our standards.
MediaMath recently sponsored a study by the Direct Marketing Association and the Winterberry Group looking into data governance – how other organizations oversee the collection, management and utilization of data used for customer marketing.
If your organization doesn’t yet have a formalized protocol for data governance, this study will be good food for thought. Click to download.