Market research identifies key insights and best practice recommendations for organizations
BEND, OR, June 24, 2022 /24-7PressRelease/ — Ventana Research today released its latest market research on Data Governance. We undertook this research to determine attitudes toward, and utilization of, data governance software. Today’s information architectures have grown significantly to accommodate an unprecedented deluge of data spread across cloud computing and on-premises infrastructure. To compete effectively, organizations must rise to the challenge of deploying and maintaining applications, data and analytics across a myriad of business processes involving customers, products, sales and finance. This research examines how organizations are addressing difficulties in establishing data governance policies that align information systems with business priorities and comply with regulations, and how they are executing data governance processes in their management of IT assets, processes and personnel.
Data governance has always been a critical part of the data and analytics landscape but was for many years seen as a preventative function that was designed to limit access to data to ensure compliance with security and data privacy requirements. More recently, data governance has evolved into a more collaborative discipline in which business users and IT work together to create policies and procedures that balance the desire to increase access to data with ongoing requirements for regulatory compliance and business best practices. This evolution has involved increasing awareness that, far from limiting the use of data, the implementation of data governance policies and procedures can provide a framework that expands access to data which enables organizations to make faster decisions based on data by providing a platform for self-service data discovery and analysis.
Our research found that organizations recognize data governance can have a positive impact on multiple aspects of the business, including improving business intelligence (BI), increasing operational efficiency, and ensuring regulatory compliance. More than three-quarters (77%) of organizations reported improved data quality for decision-making as a benefit of investing in data governance. Another key benefit of data governance contributing to improved decision-making is more accurate reporting and BI, cited by almost two-thirds (64%) of organizations.
Alongside greater recognition of the importance of data governance, the growing maturity and expanded functionality available in data governance software is also a contributing factor in its accelerated adoption. All the capabilities presented to participants were rated as important or very important by more than three-quarters of organizations, reflecting the high level of importance attributed to a range of functional and management capabilities.
“As the importance of data continues to rise, it is reassuring to know that nearly three quarters of organizations have implemented data governance policies and procedures and nearly all others plan to as well,” said David Menninger, SVP & Research Director of Analytics at Ventana Research. “This benchmark research shows that the longer these policies are in place the more trust and confidence organizations have in their data.”
The most significant challenge, cited by almost three-quarters (73%) of organizations, is disparate data sources and systems. Data silos are a perennial data-management problem for organizations. Although data governance can help overcome the challenges of identifying and managing the use of distributed data, data governance too is impacted by distributed data.
While a variety of technologies are important to data governance, some are used more frequently than others. Less than two-fifths (37%) of organizations are using technologies for auditing data governance rules and policies at least once a day, for example, whereas more than one-half (51%) are using data-quality technologies at least once a day.
The importance of data governance is well-recognized and understood. Good data governance is good for business: it accelerates BI projects and helps to ensure compliance with data privacy and security regulations. Almost nine in 10 organizations (89%) said data governance is important or very important to their organization, with more than two-thirds (69%) rating it as very important.
Data governance is near-universally recognized as important but that does not by any means translate to current data governance offerings being considered perfect. More than two-fifths (42%) of organizations view inadequate reporting or dashboard capabilities as being a shortcoming of existing data governance technologies. This is reflective of the evolution of the market. While data governance products and services have previously been targeted at data governance professionals, reporting and dashboard capabilities are required to serve the needs of business users and decision-makers, who are increasingly being involved in data governance processes.
“Our research illustrates that data governance is an issue that impacts all organizations: large and small, new and old, in every industry, and every region of the world,” said Matt Aslett, VP & Research Director of Data at Ventana Research. “Data governance ensures that an organization’s data can be cataloged, trusted and protected, improving business processes to accelerate and improve analytics initiatives and support compliance with regulatory requirements.”
If you’re interested in learning more about this benchmark research, you can view a summary of the report here. For information on how to use this research in your organization, or to purchase a copy of the research report, please click here.
About Ventana Research
Ventana Research is the most authoritative and respected market research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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