BURLINGTON, Mass.–(BUSINESS WIRE)–Preciselythe world leader in data integrity, in collaboration with Business Applications Research Center (BARC), today announced the results of a new global search. The future of data architecture A study found major discrepancies in how data architecture and management is viewed across organizations – with central data and analytics teams generally happy with the future viability of their data landscapes, but users professionals aren’t convinced that the existing architecture is modern enough to meet ever-changing business needs.
The report found that while 70% of business users believe that implemented data and analytics applications do not cover their current or future needs, only 32% of core data and analytics teams share the same sentiment. Additionally, 52% of business users agree that existing data is not suitable for the necessary business analysis, compared to only 36% of central data and analytics teams. The results show a stark disconnect between data and analytics teams and their key stakeholders, with business users unable to rely on reliable data to make decisions with confidence.
“As enterprises increasingly focus on managing data, they are faced with massive volumes of data being generated at accelerating rates,” said Emily Washington, Senior Vice President – Product Management at Precisely. “The report clearly indicates a growing need for organizations to ensure that existing data management and architecture can meet and adapt to the rapidly changing needs of the modern enterprise. If organizations lack a clear strategy for data integrity, they will quickly find that the data that powers their most important decisions is inaccurate, inconsistent and lacks vital context.
The research further revealed the top challenges highlighted by business leaders, including the scalability of real-time or near-time requirements (41%), the understandability of the data landscape or architecture as a whole. together (39%) and the flexibility of extended data requirements (32%). The main drivers of modernization are optimization of existing data models and processes, migration to cloud platforms, and efforts to improve the quality of source data or data interfaces.
Despite the challenges of increasing volumes of disparate data sources, research found that 50% of organizations continue to rely on data warehouses as a design paradigm when redesigning their data architectures. However, executives and business users criticize that centralized approaches cannot prevent the emergence of new data silos. Therefore, enterprises are looking to improve their source data to streamline their data pipelines and create a better foundation for data virtualization.
“It’s encouraging to see that business leaders are increasingly focused on de-siloing data, improving the quality of their data and enriching it for maximum context. To achieve these goals, organizations must implement a robust strategy for data integrity – combining data integration, data governance and quality, location intelligence, and data enrichment to deliver a reliable database that can be shared across the enterprise,” Washington said. “Whether the organization needs to automate decision-making, act quickly and reduce costs, or manage risk and comply with complex regulations, a modern and scalable data architecture is essential to stay agile in these difficult times.”
Download a copy of the full report here.
The study was based on the results of a global online survey conducted in March and April 2022. 268 responses were analyzed for the report, with global representation as follows: Europe (52%), North America (35% ), Asia and the Pacific (8%), South America (3%) and Africa (2%). The target audience was primarily data and analytics managers or executive/C-level positions, with representation across multiple sectors including IT, banking and finance, public sector and retail .
BARC (Business Application Research Centre) is one of Europe’s leading analyst firms for enterprise software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM), customer relationship management (CRM) and enterprise resource planning. (ERP). Learn more about https://barc.de/
Precisely is the global leader in data integrity, providing data accuracy, consistency, and context for 12,000 customers in more than 100 countries, including 99 of the Fortune 100. Precisely’s data integration, quality data, data governance, location intelligence and data enrichment products power better business decisions to create better outcomes. Learn more about www.precisely.com