Making Data a Corporate Asset
By Kelly Spivey, Managing Director, Sila
Companies that invest heavily in data management and analytics all too often don’t realize the full
potential of the solution they are putting in place because they are focused on the newest technology,
without understanding the underlying value in the data behind the technology. That includes large data
warehouses, business intelligence, dashboarding, self-service analytics, predictive analytics, and most
recently artificial intelligence and machine learning.
While there’s value in those capabilities, many deliver a sub-par return on investment. Root cause
analysis often points to similar repeated shortfalls: a lack of maturity and capabilities in core data
management fundamentals, particularly data governance, data quality management, and metadata
management. It would be better to treat data as a competitive advantage and a key corporate asset.
Advantages of doing so include top- and bottom-line growth in the form of expanded market share and
increased profitability by using accurate and trusted data to gain strategic insights.