Enterprise data and its role within the company are continually changing. In order for organizations to derive maximum value from their data, it follows that they too must also change. With that in mind, below are key trends CIOs must be cognizant of in 2022 and beyond.
Data Fabrics are Going Mainstream to Deliver Comprehensive Views of the Business
In order to reach the next phase of digital transformation, companies must eliminate information silos and gain a 360-degree view of their data. Through an enterprise data catalog, organizations can unify numerous data silos into a single data fabric. From there, they can ingest, cleanse, curate, and enrich the data to deliver a single, comprehensive view of the entire organization.
Data Lakes and Data Warehouses are Converging to Form Data Lakehouses
Data warehouses are repositories for structured data from which companies obtain insights to make better, more strategic decisions. Data lakes, on the other hand, contain the unstructured big data necessary for predictive analytics. Increasingly, expect to see the emergence of data lakehouses which combine the best of both worlds. They are built on the same low-cost storage as data lakes but also have the data governance, transaction support, and BI enablement of a data warehouse. A chief benefit of a data lakehouse is the delivery of timely insights while simultaneously lowering storage and administrative costs.
AI and Automation are Making it Easier to Manage Enterprise Data
Companies can get a handle on the ever-growing volume of data by leveraging AI to help automate discovery—for example, using ML to enrich metadata through pattern matching. In addition, AI and automation will increasingly be utilized to address manual tasks, freeing up staff to focus on more strategic initiatives and also reducing the likelihood of companies becoming overwhelmed by data.
The CDO Role is Evolving from Data Gatekeeper to Business Strategy Driver
As we’ve written about before at the APEX of Innovation, the modern CDO’s role is about so much more than data governance. Data analytics can deliver significant enterprise value, and it’s up to the CDO to advocate for its usage enterprise-wide. It’s also critical that CDOs are stewards of good data quality, are able to find the most valuable insights, and ensure they reach the relevant decision-makers.
For more on the above and other trends IT leaders need to know, take a look at this CIO article.