Data may be everywhere, but it isn’t free. It takes a lot of work and infrastructure to turn raw data into useful insights. Research suggests that the cost of handling data is only going to increase, by as much as 50% over five years. The same source suggests that part of that cost comes from confusion — users may spend up to 40% of their time searching for data and up to 30% of their time on data cleansing. The issue here is data trust.
We all know the world is changing in profound ways. In the last few years, we’ve seen businesses, teams, and people all adapting — showing incredible resilience to keep moving forward despite the headwinds. To shed some light on what to expect in 2022 and beyond, let’s look at five major trends with regard to data. We’ve been watching these particular data trends since before the pandemic and seen them gain steam across sectors in the post-pandemic world.
When you take your car in for a repair, it’s almost inevitable that the mechanic will identify additional problems you didn’t realize you had. But there’s positive flip side to that coin — sometimes when you solve one problem, you end up unexpectedly creating solutions for other challenges—that was the case for this global automotive supplier. In 2019, this automotive supplier set a goal and created a roadmap to integrate its master data.
Sometimes it can feel like you’re stranded on a data island, scratching “SOS” in the sand in hopes of catching the eye of anyone who can rescue you. Companies everywhere are facing an explosion of data — with more data sources, more shadow IT, more people demanding access, and a growing number of business problems that can only be solved with data. As your company’s data leader, every one of those problems lands on you.
The value of healthy data is obvious. But how do you build that practice in your own business? The difference between people who live a healthy lifestyle and those who don’t isn’t whether they know how to be healthier — it’s whether or not they prioritize diet, sleep, and exercise in their daily life. The same is true for your data: if you don’t have the infrastructure that supports your customer 360 initiatives , those initiatives become moot.
It’s official — Self-Service Data APIs are available as a new feature of Data Inventory! Highly skilled and less-technical users can now make their datasets available to applications and partners via APIs in just a few clicks. Self-Service Data APIs empower every permissioned employee to leverage data across the business to generate valuable insights or even extend data availability beyond the organization to trusted partners.
As a modern, data-driven organization, you are likely pulling data from a multitude of diverse sources. There’s consumer data from marketing programs, CRM, and point of sale systems, plus financial data from accounting software and banking services. Finally, there is product data from user logs and web applications. With so much data pouring in every day, it feels like you should have everything you need to answer any question that could arise. And yet, so many times you don’t.
Sometimes the lifestyles of the rich and famous aren’t as glamorous as they seem at first glance. We all know that professional athletes can make incredible amounts of money. But by the age of 35, most pro athletes are already at the end of their prime earning years. Historically, a lot of them haven’t managed their money well — and they may even go bankrupt in retirement.
