Data-Driven Decision Making: Trends, Challenges, and Solutions

Copyright © 2022 S&P Global Market Intelligence.
Permission to reprint or distribute any content from this presentation requires the prior written approval of S&P Global Market Intelligence.
Data-Driven Decision-Making
Trends, Challenges and Solutions
Paige Bartley
Senior Analyst
S&P Global Market Intelligence
Emily Washington
SVP, Product Management
Precisely
Copyright © 2022 S&P Global Market Intelligence.
Permission to reprint or distribute any content from this presentation requires the prior written approval of S&P Global Market Intelligence.

Market context
Enterprise challenges
Discussion
Audience Q&A
Agenda

Today’s speakers
Paige Bartley
Senior Research Analyst
paige.bartley@spglobal.com
Emily Washington
SVP, Product Management
Precisely
emily.washington@precisely.com

The leader in data integrity
Our software, data enrichment products and
strategic services deliver accuracy, consistency, and
context in your data, powering confident decisions.
of the Fortune
100
99
countries
100 2,500
employees
customers
12,000
Brands you trust, trust us
Data leaders partner with us
5

Market context

Less than one quarter of organizations report that “nearly all” their strategic decisions are data-driven today
Data-driven decisions are the norm, but many businesses still lag behind
Q. To what extent would you say strategic decisions at your organization are currently data driven (i.e., determined by or dependent on the collection or analysis of data)?
Base: All respondents (n=577)
Source: 451 Research's Voice of the Enterprise: Data & Analytics, Data-Driven Practices 2022

Only 4% of respondents report data will be less important to their organization 12 months from now
Yet over time, data is becoming increasingly important for decision-making
Q. Looking ahead 12 months, do you think data will be more or less important to your organization's decision-making?

Top expected benefits for being more data-driven are no longer simply tied to quarterly metrics
The business motivation for being data-driven has shifted to long-term resiliency
Q. What are the most significant benefits your organization would expect from being more data-driven? Please select all that apply.

Enterprise challenges

Data quality, data security and data privacy are top challenges: all intertwined with data governance efforts
Top challenges in becoming more data-driven are often technical in nature
Q. And what are the most significant barriers your organization faces in attempting to be more data-driven? Please select all that apply.

Data privacy and data security are still viewed as barriers, despite both relying on firm data governance
Getting a more unified view of enterprise data also has technical challenges
Q. What are the biggest challenges facing your organization as it tries to create a more unified view of data? Please select all that apply.
Base: Data management respondents, abbreviated fielding (n=152)
Source: 451 Research's Voice of the Enterprise: Data & Analytics, Data Management & Analytics 2021

Discussion

Q. Why do you think data quality is still such
a challenge for organizations?

Q. What are some of the considerations that
organizations should evaluate to improve
the confidence in their data?

Q. How do you see data governance helping
to improve confidence in data-driven
decisions?

Q. What are some of the top characteristics
for successful data governance
implementations within organizations?

Q. We hear about data catalogs a lot. What
is your view of data catalogs vs. data
governance and are they the same?

Q. How are companies being more strategic
in leveraging metadata to drive intelligent
data-driven decision-making?

Q. How do metadata and data governance,
more generally, impact data quality? How
can quality bring more confidence around
data governance initiatives?

Q. How do you see the rising trend of
DataOps integrating with data governance?
What role does data observability play in
improving speed to insight with confidence?

Q. Where do you suggest companies focus
when wanting to increase their confidence in
data-driven insights?

Contact Us
451 Research
US +1 212.505.3030
EUROPE +44 (0) 203.929.5700
US +1 877.863.1306
EUROPE +44 (0) 20.7176.1234
451research.com
spglobal.com/marketintelligence
Thank you
Paige Bartley
Senior Research Analyst
paige.bartley@spglobal.com

Copyright © 2022 by S&P Global Market Intelligence, a division of S&P Global Inc. All rights reserved.
These materials have been prepared solely for information purposes based upon information generally available to the public and from sources believed to be reliable. No content (including index
data, ratings, credit-related analyses and data, research, model, software or other application or output therefrom) or any part thereof (Content) may be modified, reverse engineered, reproduced or
distributed in any form by any means, or stored in a database or retrieval system, without the prior written permission of S&P Global Market Intelligence or its affiliates (collectively, S&P Global).
The Content shall not be used for any unlawful or unauthorized purposes. S&P Global and any third-party providers, (collectively S&P Global Parties) do not guarantee the accuracy, completeness,
timeliness or availability of the Content. S&P Global Parties are not responsible for any errors or omissions, regardless of the cause, for the results obtained from the use of the Content. THE
CONTENT IS PROVIDED ON “AS IS” BASIS. S&P GLOBAL PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S
FUNCTIONING WILL BE UNINTERRUPTED OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall S&P Global Parties be
liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost
income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the Content even if advised of the possibility of such damages.
S&P Global Market Intelligence’s opinions, quotes and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendations
to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. S&P Global Market Intelligence may provide index data. Direct
investment in an index is not possible. Exposure to an asset class represented by an index is available through investable instruments based on that index. S&P Global Market Intelligence
assumes no obligation to update the Content following publication in any form or format. The Content should not be relied on and is not a substitute for the skill, judgment and experience of the
user, its management, employees, advisors and/or clients when making investment and other business decisions. S&P Global Market Intelligence does not endorse companies, technologies,
products, services, or solutions.
S&P Global keeps certain activities of its divisions separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain divisions of S&P
Global may have information that is not available to other S&P Global divisions. S&P Global has established policies and procedures to maintain the confidentiality of certain non-public information
received in connection with each analytical process.
S&P Global may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P Global reserves the right to disseminate its
opinions and analyses. S&P Global's public ratings and analyses are made available on its websites, www.standardandpoors.com (free of charge) and www.ratingsdirect.com (subscription), and
may be distributed through other means, including via S&P Global publications and third-party redistributors. Additional information about our ratings fees is available at
www.standardandpoors.com/usratingsfees.

Data-Driven Decision Making: Trends, Challenges, and Solutions

Related slideshows

More Related Content

Data-Driven Decision Making: Trends, Challenges, and Solutions