Data: Nearly 8 in 10 Businesses Struggle with Data Quality, and Excel is Still a Roadblock
Toronto, Canada – April 7, 2021 – Ataccama, a leading provider of self-driving data management and governance solutions, today announced the general availability of Ataccama ONE Gen2 at Ataccama Innovate 2021. The new platform consolidates data quality, master data management, a data catalog, data governance, data integration, and other data management capabilities to maintain data integrity across the organization.
The platform offers a modern way to deliver high quality data with an Enterprise Data Quality Fabric, making quality data instantly available to data engineers, data stewards, value creators, machines and algorithms, with governance and compliance ensured automatically through active metadata and AI-powered capabilities. This automation enables businesses to drive innovation, enhanced trust, and security to ensure data governance. It allows more flexibility regardless of where data resides, including support for single or multi-cloud and on-premises environments.
The company also unveiled the Enterprise Data Readiness Report, a survey of 1000+ global executives and business users from midsize to large enterprises commissioned with ResearchScape, revealing that 79 percent of executives and 75 percent of line of business users face problems with data quality. This presents a serious problem, as 78 percent of organizations are relying on data more than compared to the year before the pandemic, and using poor quality data in analytics and AI initiatives can lead to misinformed business decisions.
Compounding the problem, business users are more bogged down by manual data processes than ever before, with over half of users (55 percent) needing to transform data to fit their purpose and 44 percent of users needing to wait a day or more to get help from a more technical user or team for their data needs. With the Ataccama ONE Gen2 platform, organizations can rapidly accelerate business innovation with the speed and agility that both executives and line of business users need to make decisions.
“Although it’s a known problem in our space, it is interesting to see just how long it takes for users to get quality, actionable data. Any organization where users have to wait for access to high quality data is falling behind the competition,” said Michal Klaus, CEO of Ataccama. “The next generation of the Ataccama ONE platform helps organizations build a resilient data strategy that automates mundane, error-prone data processes and empowers businesses with the data readiness they need to provide high-quality data to the users who need it—driving innovation and value creation with data. This high-speed access to data frees up the time and resources users need to spend time focusing on activities that really matter to the business.”
Additional findings from the Enterprise Data Readiness Report include:
Businesses struggle to provide a unified way to access data, and that leads to major issues with data quality.
- 74% of business users still use Excel to exchange and manage data, while 69% of users rely on email attachments to exchange and manage data. These formats of data access and exchange present severe data quality issues for organizations, as these offline data sources introduce a likelihood of issues with version control and human error. At the same time, only 10% reported using a data catalog for these purposes.
- The top three impacts of having poor data quality according to respondents are: slower time to data insight (46%), negative impacts to business performance and decision-making (42%), and negative impacts to strategic initiatives (40%).
Data privacy and compliance programs are still in their infancy.
- 43% of businesses either have implemented data governance strategies at a low maturity level or don’t have a data governance program. This represents an area of opportunity, especially as pending regulations will compound existing challenges with data quality, management and compliance.
- A significant majority of executives (69%) say regulations like GDPR slow down their ability to make business decisions, which highlights the need for better tools and processes to maintain competitive advantage.
The future of data management is bright, as organizations across industries plan to invest in AI and automation.
- While data quality is a major issue for organizations today, users are striving to solve these challenges. The top priority for half of all line of business users is to have access to higher quality data for analysis.
- When asked which data management activities they wish were automated, business users’ top requests were: having processes in place to better organize data (59%), having consolidated, documented data (55%) and ensuring data is only used for purposes that are compliant with applicable regulations (40%).
- Meanwhile, the top priority technologies for executives over the next 12 months are AI or machine learning (43%), data governance (41%), data security (41%), and data quality management (37%).
Ataccama ONE Gen2 delivers data management and governance capabilities that address data quality and governance issues for major enterprises today. Ataccama’s solution streamlines historically time-intensive and extensive manual data management and governance processes, spanning all critical areas of data management and governance for both data teams and line of business users, with a quick and easy, self-service way to obtain high-quality, compliant data. Some of the new features include:
- A fully configurable, AI-driven application layer focused on self-service, leveraging self-driving automation capabilities.
- A completely redesigned, automated Data Catalog, which also serves as a Data Marketplace.
- Tens of AI-powered features, powered by the new architecture with the AI Core at the center, which include:
- Business domain discovery
- Data classification
- Rules suggestion
- Relationship discovery
- Anomaly detection
- AI based matching
- A Data Lineage explorer with a data quality overlay.
- Self-driving data quality monitoring, which enables organizations to start fast and effortlessly scale their DQ initiatives.
- Augmented MDM capabilities with tighter integration between the MDM hub, the Data Catalog, and Business Glossary.
- A hybrid MDM hub, enabling full flexibility that goes beyond traditional MDM implementation styles.
To learn more about Ataccama ONE Gen2 and the next generation of data management and governance, visit the website or tune in to Ataccama Innovate 2021 on April 7 at 11:00 a.m. ET / 3:00 p.m. GMT, or on April 13 at 10:00 a.m. AEDT.
The event will feature informative sessions with industry leaders and influencers, including:
- Keynote sessions with CEO Michal Klaus on Ataccama’s vision for the industry and Sir Tim Berners-Lee, the inventor of the World Wide Web and President and Founder of the Open Data Institute, on data privacy and how data enables innovation.
- Customer panels with T-Mobile, Avast, Farm Credit, Australian Unity, and ACC exploring what they see as key to the success of their data quality, data management, and data governance initiatives.
- A session with Gartner Analyst Ehtisham Zaidi on the future of data management in 2021 and beyond.
Ataccama reinvents the way data is managed to create value on an enterprise scale. Unifying Data Governance, Data Quality, and Master Data Management into a single, AI-powered fabric across hybrid and Cloud environments, Ataccama gives your business and data teams the ability to innovate with unprecedented speed while maintaining trust, security, and governance of your data. Learn more at www.ataccama.com.
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