Trends in Data and Analytics
As a specialist in the Data and Analytics space, we are noticing a number of key trends that are driving new ways of thinking and approaches towards leveraging data as a strategic asset. These trends are backed up by research conducted by Gartner and white papers released by leading vendors such as Tableau, Microsoft and SAS Institute.
Data Technologies are core disrupters of the Digital Age
The vast amounts of information now being produced, and the emergence of Artificial Intelligence solutions are one of many reasons why data technologies are core disrupters of the Digital Age. The challenge for most organisations is keeping up with the new and emerging technologies that threaten to disrupt most industries, with speed, in the next 10 years.
Data Governance for regulated environments is critical
Public Sector organisations are increasingly required to ensure data governance models are well established to minimise the risk of data -related security issues. We are seeing a growing trend of Public Sector organisations making datasets available for commercial consumption. The challenge for most organisations is ensuring an effective Data Governance Model is in place to manage policies and processes associated with your corporate data assets.
Data and Analytics must be focused on business outcomes
The emergence of business friendly reporting and analytics tools means tangible business outcomes and Return on Investment (ROI) are now at the centre of decisions relating to data related initiatives. The challenge is balancing the need for business outcomes at the same time as being delivered in a cost effective manner.
Quick wins approach
Organisations can’t afford the time or money for projects that don’t deliver value, hence the challenge is adopting a quick wins approach within an enterprise or organizational-wide context. Without proper management of the strategic roadmap for data, duplication of effort and associated rework can undo the benefits realized from a quick wins approach.
Increased focus on Data and Information Security
The overall growth of data, and the critical reliance upon it for decision making and measuring business performance, is such that security is now a key challenge for most organisations. The ability to manage cyber threats, internal and external breaches, and accidental misuse of data is now driving new thinking in approaches to information security.
Emergence of Chief Data Officer
According to Gartner, most organisations will appoint a CDO in the next few years, which acknowledges at an Executive level the importance of data as a corporate or strategic asset. The challenge for most organisations is how this role will then cut across all facets of an organisation, with particular relevance to the Data Governance model.
Contact Revenite if you would like to have a discussion as to how these trends are impacting or influencing your organisation's approach towards investment in Data and Analytics solutions.