Delivering trusted data is challenging
When it comes to democratizing data use across the enterprise, you could say that we are experiencing a perfect storm. Along with accelerating cloud services adoption by way of application modernization—and building out cloud data warehouses and data lakes for teams to improve collaboration—we now have to address and resolve an increasing number of trust considerations, as our data moves into new frontiers for ease of use, greater elasticity with growth, and operational efficiencies.
The challenges are clear.
- How can I assure my data democratization efforts will expose data appropriately and in alignment with business policies?
- Can I trust business-critical data that’s been migrated into new cloud apps the same as I trust on premises data?
- Will data marketplace users have confidence in the business outcomes they expect?
Today we have more data, more data consumers, and more regulations that govern proper data use than ever before. To arrive at our end game of safe and trusted data democratization and create more business value that can drive new revenue initiatives, we need to apply automated, analytic insights that enable the visibility needed to make intelligent, guided, decisions on appropriate data use, whether in the cloud, on premises, or wherever value will be created in the future.
However, a quick look on recent stats paints a picture of today’s reality with clear room for improvement.
- While 30% of organizations will invest in data and analytics governance platforms by 2024, only 15% of organizations will succeed with launching trust-based data sharing programs by 2024, with less than 30% of data-sharing programs correctly identifying trusted data and locating trusted data sources
- Over 80% of data strategies include Data Literacy—by 2023, it will become an explicit and necessary driver of business value
- 60% of organizations will leverage augmented data quality solutions to reduce manual tasks for data quality improvements by 2022, and 70% of organizations will rigorously track data quality levels via metrics, increasing data quality by 60%, to significantly reduce operations risks and costs in the next 2 years
- Finally, along with data quality, privacy is a concern for end consumers, where 81% of Americans think potential risks of data collection by companies about them outweigh the benefits.
But what does this all mean in practice?
Data quality and data governance are consistently ranked as the top 2 to 3 challenges in data management. As data democratization gets underway, the number of non-technical data consumers who want easy self-service access to data, but at the same time are not well-prepared to use data effectively, continues to grow. Why is that?
Data quality and privacy as expected outcomes of your data governance journey are critical to supporting enterprise-wide data literacy to drive business value with trust assurance. Reducing operational risks and empowering responsible data use are key. So, how can data governance become an accelerator rather than a liability? Let’s take a closer look.
To be successful in the age of Data 4.0, where AI and automation can accelerate value creation results, requires a foundation of trusted data to democratize data use across the organization with your data marketplace, migrate data to untrusted environments such as public or private cloud with confidence, and modernize data analytics programs.
So, what does a foundation of trusted data look like?
Ultimately it helps the enterprise data community answer critical, relevant questions with transparency and much-needed insights, such as:
- Where is the data? How do I easily discover it? And when I do discover it, how do I understand its context of use or its business relevance?
- If I can understand business relevance, how can I access and move this data for analysis to applications, warehouses, or cloud data lakes?
- How can I trust that this data is fit for purpose and safeguarded for proper use?
- How can I create a single view of the business to make more intelligent decisions, for example, leveraging AI and automation for data asset and risk analytics?
Your data community needs to enable the various lines of business to deliver on trusted value creation opportunities with data quality assured, all while protecting privacy to align with internal and external mandates (the GDPR, the CCPA, LGPD, PDPA, and others). For data stewards, the ideal end state is for data consumption to be governed appropriately, in line with enterprise policies for data exposure and use that generates expected value, while minimizing risks.
Informatica’s Winter Launch focuses innovations on increasing your trust assurance
Featured in our Data Governance & Privacy Winter Product Launch, Informatica is continuously innovating to drive greater analytic insights from metadata, not only through greater shared intelligence across Informatica’s data governance products that are built and integrated on a common platform, but by expanding the use of data asset and risk analytics that deliver greater insights for guided decisions, typically by applying intelligent, automated controls.
By understanding data quality, data risks and protection status, and monitoring appropriate use for whether it aligns to enterprise data governance policies, data stewards, CDOs, CPOs and others can automate intelligence gathering to expose data responsibly, whether building out a marketplace, migrating data to the cloud, or beyond.
Here’s a quick summary of this winter’s product launch highlights:
Informatica Axon Data Governance
- Improvements for Unison user experience, workflows, cross-segment relationships, and marketplace
- Portfolio integration updates with expanded DQ automation source support; Reference 360 integration; and expanded EDC support with automated onboarding through rules, link removal notifications and viewing Glossary details
- Additional Axon incremental updates including Usage statistics and reporting, and jQuery upgrade
Informatica Enterprise Data Catalog
- New data asset analytics that provide near-instant visibility to data asset usage, inventory, enrichment, collaboration, and data value, and
- EDC Advanced Scanners for increased visibility with access to more data with new metadata scanners for comprehensive data discovery and deep lineage
Informatica Data Privacy Management
- Updates to unstructured data scan architecture (file types and sources), including new OCR image file scanning
- DPM dashboard updates that offer greater visibility, including advanced analytics with new patents awarded for risk analysis & breach impact insights
- In addition, PAM updates for greater data store coverage and new Subject Registry efficiencies with ongoing improvements to workflow
Join us for Informatica Winter Launch for more insights and product demos
Would you like to expand your data asset value intelligence and data risk insights to democratize data with trust? Unleash revenue creation opportunities and migrate to the cloud with confidence? Apply enhanced capabilities for data discovery, lineage, and privacy protection to accelerate your data governance journey?
Watch this year’s on demand winter launch to learn more by signing up to hear from product strategy experts about the roadmap ahead and see the latest hands-on demos!
And check out these other useful resources:
- Six Strategic Steps to Democratizing Data (Workbook)
- Maximize the Value of Your Data with Data Asset Analytics (Solution Brief)
- The Four Big-Time Benefits of Building a Data Marketplace (eBook)
- Intelligent Data Privacy (eBook)
- Informatica Innovations: Data Privacy Risk Management (On-Demand Webinar)