Data transformation & integration as a cornerstone for a successful data project (2023 Prediction #8)
It has been a little over a decade since the first wave of adoption of big data solutions, when CEOs first started to talk about aspiring to become “data-driven organizations.” European businesses and public sector organizations have invested billions of euros in data analytics skills and platforms in the intervening years, and clear progress has been made.
Yet, there is still a long way to go. Contrary to what you may think, ever-growing volumes of available data as well as the diversity of technological solutions available in the market can hinder the optimal use of data. According to PAC’s recent survey of more than 1,000 senior business and IT executives, 41% say that integrating multiple and distributed data sources and choosing the right technology to implement are major challenges for them with regard to data and analytics. The difficulty in hiring talent and training staff makes these issues even more complex.
PAC believes that companies will continue to turn to experts for help with their data projects, from establishing a clear data strategy aligned with the needs of the business to designing and implementing the most relevant technical and organizational measures at all stages of the data life cycle. For example, data fabric is now a trend in the data market, as it can help to optimize and get maximum value out of data. It is not a silver bullet, though, and its actual added value will depend on the business context. Automation and AI will also be major trends in the coming years as a way to deal with tedious and time-consuming tasks in data preparation, integration, and governance. One of the trending technologies is augmented data management, i.e., AI used for data quality, metadata management, master data management, and so on. Such an augmented data approach will allow not only to accelerate data initiatives, but also to ensure an organization’s compliance with the evolving regulatory environment (GDPR, EU Artificial Intelligence Act, ISO 27001, PCI DSS, HIPAA, etc.).
This blog is part of a series of PAC's 2023 Top 10 predictions. Click here to see our 10 predictions