Analytics Survey Reveals Top Challenges Identified by Data Management Leaders
Author: Tom Hoblitzell | | April 13, 2023
As an IT leader, you’re likely well aware of the importance of data and analytics in driving business success. However, new survey results from Gartner suggest that many IT leaders are still facing significant challenges in this area, which are impeding their ability to fully leverage the power of data-driven decision-making.
The survey, which polled 150 IT leaders, found that the top challenges facing organizations when it comes to data and analytics are data quality and integration, as well as a lack of skilled personnel. In addition, many IT leaders expressed concerns about the scalability of their current data and analytics infrastructure, as well as the ability to effectively measure the impact of their data-driven initiatives.
Data Quality and Integration
One of the most common challenges cited by IT leaders in the Gartner survey was data quality and integration. Many organizations have data scattered across various systems and applications, making it difficult to get a comprehensive view of the business. In addition, data quality issues such as duplicates, inconsistencies, and inaccuracies can further complicate the situation.
To address these challenges, IT leaders need to focus on developing a solid data management strategy that prioritizes data quality and integration. This may involve consolidating disparate systems and applications into a single platform, implementing data governance practices, and investing in tools and technologies that enable effective data cleansing and integration.
A major insurance company turned to Datavail for assistance in this area. See “How a P&C Insurance Company Modernized its Unwieldy Data Management Strategy”. Data governance continues to be the holy grail for an effective data management program, and here’s an example of how Datavail developed a comprehensive data government program for a client. See “How a Data Governance Program Improved Data Quality for a Larger International Organization”.
Lack of Skilled Personnel
Another major challenge identified in the survey was a lack of skilled personnel. Many organizations simply don’t have the resources or expertise needed to effectively leverage data and analytics. This is particularly true when it comes to data science and advanced analytics, which require specialized skills and knowledge.
To tackle this challenge, IT leaders may need to invest in training and development programs for existing staff, as well as recruiting new talent with the necessary skills and experience. This may involve partnering with universities and other educational institutions, as well as leveraging online learning resources. Datavail has assisted many clients by providing subject matter expertise on either a project or a managed services perspective – especially when a full-time resource with specialty skills is neither needed nor affordable. See this white paper “How Companies Grow Faster with Data Analytics Managed Services” for additional insight.
Another key concern expressed by IT leaders in the survey was the scalability of their current data and analytics infrastructure. As organizations grow and collect more data, they need to ensure that their systems can handle the increased volume and complexity.
To address this challenge, IT leaders may need to invest in more scalable infrastructure, such as cloud-based platforms or distributed computing systems. They may also need to focus on developing more agile data architectures that can easily adapt to changing business needs.
We have helped many clients move to the cloud as a way to scale and modernize their data and analytics infrastructure. See “Real Life Examples and Best Practices for your Journey to Cloud Analytics”.
Finally, many IT leaders expressed concerns about their ability to effectively measure the impact of their data-driven initiatives. While it’s important to collect and analyze data, it’s equally important to be able to demonstrate the value of these efforts to key stakeholders.
IT leaders need to focus on developing clear metrics and KPIs that can be used to measure the impact of data-driven initiatives. This may involve partnering with business stakeholders to identify key areas of focus and aligning data initiatives with broader business goals.
Overall, the results of the Gartner survey mirror what we are hearing from our clients at Datavail where we help enterprise and start ups alike with their data management and analytics challenges. The survey suggests that while many organizations are making progress in their data and analytics efforts, there are still significant challenges that need to be addressed. By prioritizing data quality and integration, investing in personnel and infrastructure, and developing clear metrics for measuring impact, IT leaders can help their organizations fully leverage the power of data-driven decision-making.
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