Data Dynamics, in collaboration with 451 Research, a part of S&P Global Market Intelligence, created a whitepaper, ‘ Value, Risk and Potential – A Modern Approach to Managing Data’ that describes how businesses can adopt a data-driven strategy throughout their organization to ensure data is usable, accessible, and protected.
- Data is growing in importance for organizations today. About 90% of enterprise survey respondents agree that data will be more important to their organization’s decision-making one year from now.
- Barriers to being more data-driven can be either cultural or technological in nature. Top technological challenges include data privacy and security, as well as integration with legacy systems.
- Organizations actively seek to generate insight from data more quickly, with more than 45% of survey respondents identifying ‘business agility improvements’ as a key desirable benefit.
- While storage costs have declined over time, data volume has accelerated. Data/capacity growth remains the top storage pain point, with 36% of survey respondents in agreement.
- Multiple copies of business data present a data management challenge. An average organization has 5.4 copies of an individual piece of business data.
- Ideological differences can exist between business functions when it comes to storage. Nearly half (49%) of DevOps survey respondents reported ‘shifting to the cloud’ as a priority, while nearly one in five (19%) of storage-affiliated respondents reported their organization archives none of its data on public cloud architecture.
- Cloud compatibility, today, is a critical consideration; 72% agree that the ability to run data management/analytics software on multiple cloud/datacenter environments is an important consideration for their organization when selecting a new data management/analytics vendor.
- Data governance efforts are delivering value in proactive ways. Today, 38% of enterprise practitioners indicate ‘faster access to relevant data’ as a benefit delivered by governance.