Instead of deriving value from data and propelling their companies forward in a digital-first world, most chief data officers (CDOs) are wasting their time on data integration, as they battle with complexity and fragmentation.
This is according to a report from cloud data management company Informatica, based on a survey of roughly 1,000 CDOs, which states that 37 percent of data leaders spend most of their time “grappling with data complexity” instead of driving true transformation.
“This year’s annual CDO study reveals that data fragmentation will be the biggest barrier facing data leaders next year and the key characteristics of those leading data-led transformations and achieving business value versus those that are still struggling to make sense of all of their data," said Jitesh Ghai, Chief Product Officer at Informatica.
Businesses have much to gain from moving away from simply “keeping the lights on”, the report further states, as enterprises with a high level of data maturity usually generate 250 percent more business value, compared to those just setting out on their data journey.
But moving forward is difficult, and Informatica believes AI can make a difference. In fact, “only AI can deliver” the speed and scalability that modern enterprises need, the report argues. It states that mature organizations are three times better at operationalizing AI to automate data management activities, compared to their less mature counterparts.
To encourage innovation, enterprises need to enable access to AI, yet just a third (31 percent) provide AI-powered self-service access to all the data needed by different teams, says Informatica.
- These are the best free software for small businesses available now