When managers and workers discuss Data Governance (DG), a business program that supports harmonized data activities, vs. Data Management (DM), a comprehensive collection of practices, concepts, and processes dedicated to leveraging data assets, they often use the terms interchangeably. Sometimes, both words point to the same concepts, and these conversations remain productive. At other times, switching between […]
Data Visualization Best Practices
Good data visualizations boost business data literacy by presenting well-thought-out dashboards or reports that show data assets for quicker and more straightforward consumption. Following data visualization best practices leads to positive outcomes for organizations. These benefits include reducing the time and costs of questions data consumers ask by answering them up front in the data visualizations. Additionally, good visualizations increase consistency […]
Getting Executive Buy-in for Data Management
Within the last several years, the marketplace has shifted from industrial-produced to data-based. Consequently, many companies have a strong drive to become data-driven, from financial firms to nonprofits. Yet, when C-suite managers and others discuss making money from data, they see the face of data analytics and Data Science. These conversations miss the Data Architecture and Data Management fundamentals […]
Core Data Concepts for Digital Transformation
Without a clear understanding of core data concepts, communications around implementing an organizational Data Management initiative can become a muddle. As different teams come together to plan and organize data activities, they must integrate what they mean about data with any technologies. For example, take the term “Data Governance.” Data engineers building systems and tools to enable […]
How Generative AI Is Making Data Catalogs Smarter
For the 72.29% of companies that want to gain business insights through analytics, knowing what and where to find their company-wide data becomes essential. To solve this need, many organizations implement data catalogs – comprehensive directories that list and describe all available enterprise data. Not every data catalog functions the same, and ones that use generative AI (aka “smart […]
Managing Risk with Frictionless AI
Artificial intelligence (AI) programs have existed longer than many people have been alive, with the first successful applications implemented in the 1950s. The 2020s promise greater AI potential that more businesspeople can use. Although modern AI brings powerful, accurate, and easier-to-use tools, organizations struggle to get the most value in their AI investments and achieve frictionless AI. To understand […]
Distributed Data Architecture Patterns Explained
Distributed data architecture, models using multiple platforms, and processes for data-driven goals continue to generate increased interest. As William McKnight, president of McKnight Consulting Group (MCG) and well-known data architecture advisor, says, “Seldom a database vendor does not interact with concepts around distributed data architectures: the data lakehouse, data mesh, data fabric, and data cloud, and I am […]
Data Governance Roles and Responsibilities
Data Governance, a formalized practice that executes and enforces company-wide data policies, has gained significant traction in the last few years. As of 2022, 81.89% of the participants in a DATAVERSITY® Trends in Data Management(TDM) survey have either implemented a Data Governance program or plan to initiate one. Yet, 54.63% of those surveyed listed a lack of Data Governance as […]
5 Key Benefits of Data Governance
Organizations want Data Governance, a formalized practice that connects different components – roles, processes, communications, metrics, and tools – for its benefits. Company-wide data represents a resource that will “become more valuable than people ever anticipated,” according to David McGraw, senior manager in consumer and industrial products at West Monroe. Advances in generative AI models in 2023 will only increase the […]
Data Strategy Best Practices
Data Strategy, the master plan or blueprint for confronting day-to-day business challenges and meeting pre-defined business goals using data, has gained significant traction. More companies are seeing the connection between following Data Strategy best practices and boosting profit. Gartner estimates that 50% of financial planning and analytics leaders will take charge of developing and refining their Data Strategy. Moreover, […]