Trust ’22 – Precisely’s Data Integrity conference took place earlier this year. The Keynote – featuring IDC Research Director, Stewart Bond – shared some interesting observations from a recent IDC Spotlight report, Improving Data Integrity and Trust through Transparency and Enrichment.
Stewart shared his research findings on the business benefits of investing in data integrity – a 42% increase in customer satisfaction, a 40% increase in innovation, an increase of 38% in time to market, and 38% in employee retention. Somewhat tongue in cheek – he noted that revenue showed the lowest increase, with only a 29% average increase.
How do we deliver trusted data?
In spite of the value, the report noted that many companies struggle to deliver the data intelligence needed to deliver trusted data. This is due to an underinvestment in the data observability and data transparency solutions necessary to deliver trust. According to the IDC spotlight report,trust comes through transparency provided by intelligence about data backed by enrichment to provide context and deliver integrity.
The report further indicates that trust in data is strongest the closer it is to where it is created. As data moves into operational and analytical platforms, it tends to degrade and become less trusted. Another interesting fact – the people closest to the data trust it the least. They are exposed to quality and integrity issues on a daily basis and understand the impact. But there is hope.
Companies that embrace DataOps – an agile methodology to streamline the delivery of trusted, reliable analytics – report a 49% improvement in delivering data projects on time. DataOps embraces continuous monitoring and testing of data to stop bad data from being consumed and provides the data intelligence to understand data context and the impact of change quickly.
Better informed project teams make better decisions and get results more quickly.
