Watch These Data and Analytics Challenges and Trends

 

More and more businesses are feeling the need to embrace digital in their quest for success and to stay relevant. The key players that fuel this digital space are data and analytics, and businesses must have complete control over them. However, data and analytics (D&A) leaders face several challenges and obstacles, more so because of the new legislative initiatives, namely the European General Data Protection Regulation, as well as the ever-expanding role of artificial intelligence.

 

Gartner has outlined the current opportunities and challenges faced by D&A leaders around the world.

What is the biggest challenge data and analytics leaders face today?

A D&A leader is entrusted with the task of delivering sound business outcomes from their data-driven programs today, while also building an effective data and analytics organisation for tomorrow. This dual-pronged undertaking requires a well thought-through D&A strategy.

 

To be effective, the strategy must be built on trust, insights and capabilities. The D&A leader must be conversant with new trends, such as blockchain, AI and GDPR, and also possess deep knowledge of how to implement a data-driven culture in the organisation.

What is the current state of data and analytics?

However, reality is still a few steps away from getting there. The field of data and analytics is one of high ambition and low client maturity. Data and analytics are the #1 sought-after skills, but clients lack the right organizational structure to deal with the changes that embracing this future entails.

 

Technologies like AI can also ensure better use of precious employee time by taking over specific routine tasks. However, instead of automating processes and freeing-up resources for digital-oriented projects, D&A leaders are forced to spend time and money on activities like compliance.

 

Additionally, the central IT department is often isolated from the business units it supports. Many major departments, such as marketing, HR and sales have begun to implement their own D&A initiatives. Even so, IT must continue to be involved in all data and analytics projects to ensure all security and compliance policies are followed.

What are the latest trends in data and analytics?

Today, businesses are at the cusp of a paradigm shift. On one hand there is more data than could have been imagined possible, and on the other, there is a surfeit of the right culture and human capabilities to collect, analyse and manage this data. A strong D&A leader has to step in to take charge, and promote data competency and literacy among all employees to hasten the transition to better data-driven business outcomes.

 

To know more about how to overcome these roadblocks to D&A deployment in your business, please join us at Gartner Data & Analytics Summit 2019, 10 - 11 June, Mumbai.

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