Our Eurostaff Expert and CEO at datazuum Samir Sharma gives us his thoughts on data strategy, infrastructure, integration, governance, and culture, which he believes will impact organisations in 2018. Last year was the year of technology but Samir feels that in 2018 the key trends will be more strategic in nature than technical.
Tomorrow Samir will give you his fifth prediction, so keep an eye out to learn more!
Data Prediction #4: Data governance climbs up the food chain
$3.1 trillion, IBM’s estimate of the yearly cost of poor quality data, in the US alone. Data governance still gets the backseat. But, not in 2018 with GDPR, data spread across internal systems and the cloud, and privacy issues being scrutinised, it’s time for data governance to go up the food chain. Organisations will need to implement three aspects of data governance:
1) Deploying a common data model and common business definitions across the organisation. Not doing so will end up in sloppy insights being presented, and bad decisions being made.
2) Identifying data stewards and implementing a centralised data governance hub will be key for 2018. The stewardship role is important because it ultimately manages the convergence of policy and technology, ensuring tight controls are in place.
3) Data lineage processes of knowing how data is stored, managed, cleansed, where it came from, who it was shared with, how it has or will be analysed etc., will provide the context for sound governance and compliance. If you don’t apply the internal discipline and coordinate efforts across the organisation, your competitor will end up crushing you, because their data will ultimately be better.
Day five of Samir's data predictions will look how data monetisation strategies kick into gear.