A majority (55%) of data leaders report that there are more than 1,000 sources of data at their organization, according to a recent report [download page] from Informatica. And if that’s not enough, respondents to the survey expect more, with 91% predicting an increase in data sources this year.
Those increases are expected to come from data sources for analytics (77%), from cloud data stores (77%) and from applications (77%). No wonder, then, that one of the top challenges reported by the 600 chief data officers, chief analytics offers and chief data and analytics officers surveyed is the increasing volume and variety of data.
Faced with these mountains of data and an environment where securing privacy is paramount, data leaders indicate that improved governance over their data and data processes is their top priority for data strategy this year, as cited by 52% of respondents. Data governance has been found in the past to be a key area of difference between enterprise data leaders and laggards.
Beyond data governance, other leading priorities for data strategies this year including improving data-driven culture and data literacy (46%), gaining a more holistic/single view of customers (45%), and improving data privacy and security (44%).
In order to support their data management priorities this year, half of data leaders expect they will need at least 5 separate tools. When it comes to measuring the effectiveness of their data strategy, respondents will rely on a variety of metrics, led by improving how data is utilized in business decision-making, and followed by improving the quality of analytics used for decision-making and improving the quality of data.
For more, download the report here.