Steps to rapidly deliver business data through a unified data supply chain
According to Gartner, organizations that provide access to a curated catalog of internal and external data assets will derive twice as much business value from their analytics investments by 2020 than those that do not. That’s a ringing endorsement of data catalogs, and a growing number of enterprises seem to agree. In fact, the global data catalog market is expected to grow from US$210.0 million in 2017 to US$620.0 million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.2%.
Although today’s data catalogs are providing visibility into datasets across an organization and helping users better source and understand their data, is a traditional data catalog ultimately the best solution? Traditional data catalogs are seen as “passive” and have resulted in limited usefulness because there is little to no integration into larger enterprise information management activities. We find that more companies also want the ability to take action from their catalog and allow their data consumers to not only understand what data they have, but use it to support a more data-driven business approach. They want the data catalog to function as the starting point for self-service activities such as data provisioning and transformations. Enterprises that truly want to derive value from data now and into the future need to put in place an “active data hub” that goes beyond the data catalog and enables broader self-service access and data transformation capabilities.