One Data Governance for Them All – Master Data Included
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Current demands are requiring an enterprise-wide understanding of your critical data assets – including master data - to achieve: · More self-service data & analytics for confident and timely business insights · Greater visibility around risk & regulatory requirements · Improved operational efficiencies to reduce costs and increase customer satisfaction To deliver on these, modern data governance demands that teams have a single unified view across the enterprise with a common understanding of meaning, lineage, quality, and data policies that impact critical data. Precisely delivers a flexible business and IT friendly solution that brings those components together to increase the agility and confidence of your teams insights and decisions.
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One Data Governance for Them All – Master Data Included
- 1. Susan Pawlak Senior Manager Product Marketing, Precisely Trusted Data-Driven Decisions with Modern Data Governance
- 2. Macro forces are impacting your business Changing regulatory and privacy environment Volatile market conditions Long-term pandemic impacts
- 3. Economic downturn… QUESTION: How has the economic downturn impacted your organization’s data strategy? Decrease in staffing & resource allocation … impacts data strategy Decrease in budget 40% 37% QUESTION: Which of the following trends are influencing your organization’s overall data strategy? 57% Cloud adoption 49% 43% 43% Advanced data analytics Workflow automation Digital transformation 41% AI/ML 30% 21% DataOps Data democratization Respondents are turning to cloud, advanced analytics, and automation to drive down costs and resource requirements “2023 Data Integrity Trends & Insights Report” coming June 2023
- 4. 77% report data-driven decision-making as the top priority for data programs QUESTION: What are your organization's goals for data programs? 76.6% 72.8% 62.4% 58.6% 57.1% 56.8% 52.7% Data-driven decision-making Operational efficiency Cost reduction Revenue generation Regulatory compliance Risk mitigation Customer retention “2023 Data Integrity Trends & Insights Report” coming June 2023
- 5. 2023 Data Integrity Trends & Insights 41% report data governance as a top priority for data programs
- 6. 6 Roadmap for data-driven decisions Cross-functional teams collaborate and understand the full lifecycle of data in unified view Robust data access, quality & observability capabilities seamlessly integrated Critical metadata and master data easily cataloged, discovered, and managed
- 7. Data-driven decisions require data integrity Data integrity is data with maximum accuracy, consistency, and context for confident business decision-making Data Integrity
- 8. LOCATION MASTER DATA MANAGEMENT GOVERNANCE & QUALITY ENRICHMENT INTEGRATION Your unique data integrity journey will reflect your business needs Data Integrity Data integrity is a journey • Every journey to data integrity is unique and driven by your business initiatives • Market trends are accelerating the need for solutions that adapt to different use cases • Precisely can help you at every step of your data integrity journey Strategic Services can help jump-start your initiative or ensure an existing one accomplishes the desired outcomes!
- 9. The leader in data integrity Our software, data enrichment products and strategic services deliver accuracy, consistency, and context in your data, powering confident decisions. of the Fortune 100 99 countries 100 2,500 employees customers 12,000 Brands you trust, trust us Data leaders partner with us
- 10. Let’s continue the conversation… Contact us Set up a 30-minute no-obligation consultation with our team +1-877-700-0970 “Get in touch” on www.precisely.com www.precisely.com Demos White Papers Case Studies
Editor's Notes
- Thank you for joining us today. My name is Susan Pawlak, I am the Sr Manager of Product Marketing for Precisely.
- No one can deny that the last couple of years have been an absolute whirlwind. First and foremost, we all know the Pandemic created a seismic shift that has impacted virtually every part of daily life and business for a protracted period of time. Compliance with the changing regulatory and privacy requirements imposed by states, industries, business partners, and customers has also demanded increased investment. And, unprecedented geopolitical instability has created sustained global economic uncertainty that we must all reckon with.
- But we also saw the economic downturn impacting organizations … and strongly influencing their data strategy. According to a recent study by Drexel University’s LeBow college of business…. Data professionals reported significant impacts from the economic downturn – with 40% experiencing a reduction in staffing and resource allocation, and 37% reporting a decrease in their budgets. But! The survey also showed that they are taking steps in their data strategy to manage through these constraints. Responses showed a focus on technologies that will help organizations manage through resource shortages – cloud adoption, AI/ML, workflow automation – and prioritizing data democratization and digital transformations. These all stand out as strategies that can offset the decrease of resources and skilled workers while amplifying decision-making insights. Overall, the survey showed that organizations are shaping their data strategies to address macro trends.
- Yet, the Drexel survey also found that 76.6% of respondents reported that data-driven decision-making is the most important GOAL for their organizations’ data programs – even overshadowing operational efficiency at 73%, cost reduction at 62%, and revenue generation at 59%. Clearly, in response to the macro trends I described, organizations are relying on hard data to drive their decisions across all areas of their business.
- And HOW are they doing this? 41% report DATA GOVERNANCE as a top priority for data programs this year.
- So what must a roadmap for data-driven decisions include? Cross functional teams that can collaborate and understand the full lifecycle of data in a single unified solution delivering ENTERPRISE-WIDE DATA LITERACY It must include robust & automated data access, quality, and observability capabilities seamlessly integrated to achieve CONFIDENCE around your most critical data Meta data AND MASTER data must be easily cataloged, discovered and managed to EMPOWER TEAMS to find quickly insights and take action on high priority tasks and events
- To achieve those requirements, you need what we call data integrity. Data integrity is data with maximum accuracy, consistency, and context for confident business decision-making.
- But Data Integrity is a Journey and every journey is UNIQUE to each company to address your specific business initiatives. Today we’re talking about the value of One Data Governance for All that can address those macro trend and impacts NOW – AND in the future. The Precisely Data Integrity Data governance service enables you to Manage data policy and processes with greater insight into your data’s meaning, lineage, and impact ENTERPRISE-WIDE Is Flexible and extensible to adapt to multiple use cases across your organization – including master data management Is intuitive and user-friendly so business and IT teams can collaborate and quickly interact for timely business insights With Precisely data quality, you can increase the confidence in data with automated and integrated rules and alerts to deliver data that’s accurate, consistent, and fit for purpose across operational and analytical systems and proactively uncover data anomalies to act before they become costly downstream issues. And depending on your use case – or where YOU are on your data integrity journey, Precisely Data Integrity solutions delivers Powerful Data Integration capabilities to break down data silos and derive real-time analytics quickly by building modern data pipelines and models And Location intelligence to derive and visualize spatial relationships to reveal critical context for better decisions or ENRICH your business data with expertly curated datasets containing thousands of attributes for faster, more confident decisions Precisely data integrity solutions work together and are powered by machine learning intelligence to optimize your teams, resources, and investments.
- Over 12000 businesses leverage Precisely technology across the globe to build value, and work seamlessly with both your traditional and modern tech stacks to help you optimize your investments now – AND in the future As the leader in data integrity, Precisely’s modular and interoperable data integrity solutions contains everything you need to deliver accurate, consistent, contextual data to your business – wherever and whenever it’s needed.
- Thanks for listening – If you’d like to learn more please scan the QR code or visit our website to continue the conversation. Let me turn it back to Shannon to hear more about One Data Governance for All How will the rise of artificial intelligence impact data integrity? With the lack of skilled data governance expertise, we are having trouble getting started. How do your customers address this? Can I get a copy of the Drexel University Survey you mentioned?