Data Journey
Feb 11, 2019
Varinder S Sembhi

We have all seen infographics on how much data is produced in one minute on the internet. The numbers are increasing rapidly year over year. This is not only true for social media companies but also for every organizations’ internal data. Due to the increase in the digitization of processes, all organizations irrespective of size are collecting more data than ever before. It seems like organizations are drowning in all types of data. Structured, unstructured, semi structured data exist in many places, such as in managed stores, in under-the-desk (UTD) data stores, on laptops, on shared drives (internal or cloud drives), hidden in email, Excelmarts, and more. The net effect is that organizations do no have a complete picture of their data landscape.

Data volume is increasing at an alarming rate, exposing many challenges related to data governance. Those challenges can be summarized as follows:

  • How do we have confidence in the quality of our data?
  • How do we understand where data comes from and how it moves through the system?
  • And how do we control access to our data?

Confidence in data quality decreases because of conflicting versions of the same data. Innovation is fueled by advanced analytics, which helps identify new features or new efficiencies in existing ones. So it is imperative to be able to rely on high quality data as more business critical functions depend on it.

Data access policies are generally either ignored or very weak, and often times depend on the person managing the data server. Misuse of data and chances of unauthorized access to private and personal data are abundant. While regulations are catching up, more still are needed to adequately protect private and personal data. A well-known example is the GPDR, among many things requiring organizations to be able to delete all personal customer data upon request. The cost of non-compliance with these regulations is high and includes monetary penalties as well as reputational damage.

Regulatory requirements and advanced analytics have made high quality data so important that it has caught the attention of the C-Suite and earned the data management function a seat at the table as Chief Data Officers (CDO).

The key questions for every CDO are:

  • Where do we stand with our Data Management capability compared to our competitors?
  • Are we on the right track and are we doing enough to manage our data securely and efficiently?
  • Does our peer group face similar challenges as we do and how do they address them?

These questions are not easy to answer. It takes years to establish a solid data management capability and it is vital to measure progress to reassess those questions on a regular basis.

Xodiac is dedicated to help teams thrive and help them move along in their journey. We help organizations navigate their data journey, so they can depend on their data to grow their business.