In the wake of COVID-19 and ensuing quarantine, companies have been struggling to manage the disruption to their day-to-day operations and long-term prospects. With employees all over the world and all forms of business communication and collaboration taking place online, companies have had to find creative ways to accelerate their digital transformation efforts. Those that have fortified their data environment and improved business reporting have seen improvements in their workforce performance and key business metrics, such as profitability.
Central to the success of those companies that have been able to improve performance in the current business climate is their data, people, and operations. Without trust in their data and analytical processes, organizations spend more time debating the definitions of various terms and metrics rather than using them to make data-driven decisions. This discord can lead to diametrically opposed opinions — triggering indecision and inaction.
As the volume of data continues to grow, organizations are becoming increasingly dependent on intelligent data catalogs with embedded data governance to create a robust framework that ensures quality, accuracy, and trust in their data. Recent Aberdeen research indicates that those companies with mature data environments improve their employee productivity and enable impactful business decisions, resulting in elevated performance across the board.
Streamlined Business Reporting
One of the greatest challenges companies’ face comes down to their ability to access data when they need it to make informed and timely business decisions. According to Aberdeen research, the need for real-time / continuous data integration from multiple disparate sources has almost doubled in importance over the past two years — today, a third of information is delivered late, making it extremely difficult for businesses to operate at their full capacity. Data integration leaders, which are those with a defined technology solution or feature for integration and governance, are 30% more likely to have strong data governance policies supported by a technology platform or toolset, compared to All Other companies. Leveraging these capabilities leads to improvement in real-time decision making, as employees can execute based on data that they trust.
In order to optimize their data environments, top companies are investing in intelligent data catalogs to boost employee productivity and business execution. Recent Aberdeen data substantiates this, finding that over 70% of companies are increasing their investment in new technology / upgrading existing technology.
Companies with a data catalog solution are seeing significantly better results in their data quality, access, ease-of-use, and delivery. Again, in this difficult business environment, companies are relying on their data, processes, and people to help drive further growth.
These top-level metrics translate to better business results — Best-in-Class companies are 30% more likely to have a dedicated data catalog solution, in addition to being twice as likely to integrate their data management capabilities with their analytics strategy than All Others.
Join our upcoming live webinar, Wednesday, March 3rd at 11:00 AM ET, featuring Michael Lock, Aberdeen SVP of Research, and Vidisha Vedvyas, Collibra Senior Manager Product Marketing, discussing key aspects of Best-in-Class approaches to data intelligence that help produce streamlined business decisions and a more productive workforce.
Register HERE to secure your spot! If you’re unable to attend the live webinar, register anyway and we’ll send you the recording.
