Data processing, data integration, data quality, data security - all these topics sound like a compulsory program for IT and not as “hot” as analytics, data science, the Internet of Things or artificial intelligence. However, companies globally have long recognized that data management is at least as important as the optimization of business processes or the creation of new innovative business models.
According to the BARC study "Data Preparation – Refining Raw Data into Value", 75 percent of the respondents regard data preparation for analytics to be important for their business. This development will continue to grow in the future, which is predicted by 94 per cent. Altogether, almost 700 professionals from more than 50 countries across all industries were asked about the conditions, the use and the challenges of Data Preparation.
Modernizing the Analytics Life Cycle includes speeding up supporting processes. Analytics agility demands intuitive data preparation. Tune in to this webinar to learn how.
Already 70 percent ......
actively use data preparation for analytics. Only 3 per cent consider the topic not to be relevant. 53 percent of companies are familiar with the classic data integration processes, 50 percent have access to the data they need, and 43 percent are satisfied with the performance. It looks like everything is fine, doesn’t it?
Not quite. After all, every third company is still struggling with the challenges. Data quality is an important keyword, 34 percent still require action. The desire for traceability and documentation of transformations stands out significantly with 45 percent (dissatisfied) of the responses versus 26 percent (satisfied). This can be explained by inadequate tools and incomplete manual processes on the one hand, but also to a lack of cooperation inside the organization. After all, according to the survey 25 percent already work across the departments on data preparation. And that pays off.
Companies, where IT and the business department are working together, the satisfaction is higher and the benefit is greater. For example, 45 percent of companies, where there is a good collaboration between business specialist and IT departments, believe that they have improved their ability to react to changing business conditions. On the other hand, just 27 percent say that when these departments do no collaborate.
More management support is needed
Collaboration between department and IT is therefore an important step on the way to better data preparation. Equally important is the support from the management. However, decision-makers still hesitate: The lack of sponsors (31 percent) results directly in a real struggle for budgets and resources, which, according to 39 percent, is one of the problems with the use of data preparation. The research study confirms that organizations are aware of the importance of data preparation. The next step is to provide appropriate resources and build up expertise in the companies. The cooperation between professional and technical experts is strengthened by the establishment of competence centers. And - last but not least - the use of modern technologies for data preparation - beyond the spreadsheets.
