Is Your Company a Data Management Leader or Laggard?
November 4, 2016
The article titled Companies are Falling Short in Data Management on IT ProPortal describes the obstacles facing many businesses when it comes to data management optimization. Why does this matter? The article states that big data analytics and the internet of things will combine to form an over $300 billion industry by 2020. Companies that fail to build up their capabilities will lose out—big. The article explains,
More than two thirds of data management leaders believe they have an effective data management strategy. They also believe they are approaching data cleansing and analytics the right way…The [SAS] report also says that approximately 10 per cent of companies it calls ‘laggards’, believe the same thing. The problem is – there are as many ‘laggards’, as there are leaders in the majority of industries, which leads SAS to a conclusion that ‘many companies are falling short in data management’.
In order to avoid this trend, company leaders must identify the obstacles impeding their path. A better focus on staff training and development is only possible after recognizing that a lack of internal skills is one of the most common issues. Additionally, companies must clearly define their data strategy and disseminate the vision among all levels of personnel.