Analyst insights
Transforming data into action
Based on a survey of over 500 business executives and complemented by in-depth interviews, the EIU report “Transforming Data Into Action: The Business Outlook for Data Governance” reveals:
- What’s working in data governance – and what’s not
- Why organizations must shift their thinking to data governance on offense
- How to overcome barriers to better data governance
Download the report to learn how companies can create a competitive advantage from their data.
Summary
Data governance can be a game changer when it comes to modern business. But leveraging data for strategic objectives is easier said than done. This new report, developed by The Economist Intelligence Unit, explores the challenges – and opportunities – for data governance both globally and across industries.
Preview
New digital technologies such as artificial intelligence, big data and the Internet of Things are inspiring more business executives globally to acknowledge the potential strategic value of data. The challenge is converting raw data, in their ever-increasing quantity, into actionable insights and deploying them effectively in both internal and external business operations.
Capitalising on data requires more than cutting-edge technologies. Companies also need a framework for gathering, validating, protecting and disseminating information. That's where data governance comes in. Less glamorous than the futuristic digital capabilities it supports, data governance involves the essential work of establishing standards and practices for such activities as regulatory compliance, privacy, data quality and access to information.
And it involves more than raw numbers: analyses, metrics, algorithms and dashboards are all elements of data governance. Getting these tasks and outputs right enables employees to harness the data generated by their businesses and have the best chance of translating such data into meaningful strategic insights. Good data governance can help companies create a competitive advantage from their data by revealing untapped market opportunities and highlighting unnecessary expenses.