CIO Business Intelligence

NOVEMBER 22, 2022

Every enterprise needs a data strategy that clearly defines the technologies, processes, people, and rules needed to safely and securely manage its information assets and practices. Here’s a quick rundown of seven major trends that will likely reshape your organization’s current data strategy in the days and months ahead.

Data Strategy 145

Data Strategy Strategy Enterprise Consulting 145

DataKitchen

MAY 10, 2024

This blog post delves into the third critical use case for Data Observation and Data Quality Validation: development and Deployment. It highlights how DataKitchen’s Data Observation solutions equip organizations to enhance their development practices, reduce deployment risks, and increase overall productivity.

Testing 124

Testing Cost-Benefit Data Quality Dashboards 124

CIO Business Intelligence

JUNE 9, 2023

Such is the case with a data management strategy. That gap is becoming increasingly apparent because of artificial intelligence’s (AI) dependence on effective data management. A few years ago, Gartner found that “organizations estimate the average cost of poor data quality at $12.8 The second best time is now.”

Strategy 107

Strategy Management Key Performance Indicator ROI 107

IBM Big Data Hub

MAY 8, 2023

This blog continues the discussion, now investigating the risks of adopting AI and proposes measures for a safe and judicious response to adopting AI. Risk and limitations of AI The risk associated with the adoption of AI in insurance can be separated broadly into two categories—technological and usage.

Insurance 75

Insurance Risk Testing Data Quality 75

IBM Big Data Hub

DECEMBER 20, 2023

Without an AI strategy, organizations risk missing out on the benefits AI can offer. An AI strategy helps organizations address the complex challenges associated with AI implementation and define its objectives. What is an AI strategy? A successful AI strategy should act as a roadmap for this plan.

Strategy 80

Strategy Business Objectives Cost-Benefit Consulting 80

CIO Business Intelligence

MARCH 4, 2024

The data mesh debate This is not to say that there is a consensus that data mesh is a universal solution. Stakeholders are currently waging an open debate across the industry of centralization versus federated data strategies.

Insurance 82

Insurance Strategy Data Governance Data Integration 82

DataKitchen

MAY 10, 2024

Data Evaluation Before new data sets are introduced into production environments, they must be thoroughly evaluated and cleaned. This initial stage of data observability ensures that data quality is maintained from the start, preventing errors that could affect downstream processes and decisions.

Data Quality 141

Data Quality Dashboards Strategy Testing 141

Alation

OCTOBER 5, 2021

Answers will differ widely depending upon a business’ industry and strategy for growth. The first step towards a successful data governance strategy is setting appropriate goals and milestones. Yet, so many companies today are still failing miserably in implementing data strategy and governance protocols.

Data Governance 96

Data Governance Strategy Data Quality Metrics 96

IBM Big Data Hub

APRIL 10, 2023

A well-designed data architecture should support business intelligence and analysis, automation, and AI—all of which can help organizations to quickly seize market opportunities, build customer value, drive major efficiencies, and respond to risks such as supply chain disruptions.

Strategy 95

Strategy Data Architecture Cost-Benefit Reporting 95

Alation

MARCH 14, 2023

Data gathering and use pervades almost every business function these days — and it’s widely acknowledged that businesses with a clear strategy around data are best placed to succeed in competitive, challenging markets such as defence. What is a data strategy? Why is a data strategy important?

Data Strategy 52

Data Strategy Strategy Metadata Data Quality 52

CIO Business Intelligence

APRIL 1, 2024

The research cited a lack of talent and skills to work with the technology (62%), unclear AI and GenAI investment priorities (47%), and the absence of a strategy for responsible AI (41%) as the top three obstacles. Reach consensus on strategy. Low-cost proof-of-concepts can help you reduce the risk of overprovisioning.

Data Lake 121

Data Lake Consulting Uncertainty Risk 121

IBM Big Data Hub

JUNE 30, 2022

The rise of data strategy. There’s a renewed interest in reflecting on what can and should be done with data, how to accomplish those goals and how to check for data strategy alignment with business objectives. The evolution of a multi-everything landscape, and what that means for data strategy.

Data Strategy 57

Data Strategy Strategy Business Objectives Data-driven 57

IBM Big Data Hub

MAY 9, 2024

Healthcare organizations need a strong data governance framework to help ensure compliance with regulations like the Health Insurance Portability and Accountability Act of 1996 (HIPAA) in the US and the General Data Protection Regulation (GDPR) in the EU. All this relies on reliable data and requires data lineage for governance.

Data Governance 75

Data Governance Data Quality Insurance Predictive Analytics 75

DataKitchen

MARCH 5, 2024

The Stakeholder Confidence Crisis Relying on hope as a data accuracy and integrity strategy is fraught with risks. Stakeholders, from internal teams to external clients, seek confidence in the data they use and depend on. You will be in trouble if you are not measuring data quality or delivering error rates and SLAs.

Data Quality 146

Data Quality Measurement Testing Data-driven 146

DataRobot Blog

MAY 26, 2022

In this post, we will dive deeper into how members from both the first and second line of defense within a financial institution can adapt their model validation strategies in the context of modern ML methods. The decreasing default risk with increasing salary suggests that higher income applicants pose less credit risk to the bank.

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Risk Modeling Metrics Business Objectives 52

CIO Business Intelligence

MAY 8, 2024

All of this stems from understanding where your data is. Then comes risk assessment and identifying risks of confidentiality breaches, or the system becoming unavailable and affecting the overall strategy. On the overall business strategy: You need a good understanding of the corporate strategy.

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Risk Testing Strategy Technology 100

CIO Business Intelligence

MAY 2, 2023

Despite the best of intentions, CIOs and their organizations often struggle to deliver business outcomes from digital transformation strategies. And while KPMG reports that 72% of CEOs have aggressive digital investment strategies, McKinsey details a harsh reality that 70% of transformations fail. Five years ago, I shared that the No.

Digital Transformation 132

Digital Transformation IT Data-driven Metrics 132

CIO Business Intelligence

DECEMBER 19, 2023

This year’s technology darling and other machine learning investments have already impacted digital transformation strategies in 2023 , and boards will expect CIOs to update their AI transformation strategies frequently. Luckily, many are expanding budgets to do so. “94%

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Digital Transformation Unstructured Data Machine Learning Risk Management 139

CIO Business Intelligence

DECEMBER 8, 2023

Minimizing risk Many companies are starting to invest in mitigating risk. Here are some of the most effective strategies, according to experts. Continually upgrade data quality. When training LLMs, IT teams should validate the data to ensure it is high quality, relevant, and comprehensive.

Risk 116

Risk Finance Data Quality Modeling 116

CIO Business Intelligence

MARCH 27, 2023

They’re spending a lot of time on things like data quality, data management, things that might be tactical, helping with operational aspects of IT. Organizations are still investing in data and analytics functions. CDAOs must have a talent strategy that doesn’t count on hiring data and analytics talent ready-made.”

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Data-driven Data Quality Strategy Reporting 140

CIO Business Intelligence

MARCH 24, 2023

The Data Management Association (DAMA) International defines it as the “planning, oversight, and control over management of data and the use of data and data-related sources.” Such a framework provides your organization with a holistic approach to collecting, managing, securing, and storing data.

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Data Governance Management Metadata Data Quality 142

CIO Business Intelligence

APRIL 4, 2024

This involves rigorous evaluation of potential benefits, risks, and costs associated with each AI initiative to ensure investments are prudent and aligned with our risk-return profile.” Webster Bank is following a similar strategy. Data is the lynchpin to AI success,” says Nafde. Diasio agrees. asks Srivastava.

Enterprise 128

Enterprise Cost-Benefit Forecasting Strategy 128

FineReport

APRIL 9, 2024

Additionally, BI tools enable organizations to adopt a data-driven approach to strategy formulation, leading to more informed decision-making at all levels. The implementation empowered the organization with predictive modeling capabilities, enabling proactive risk mitigation and personalized customer engagement strategies.

Business Intelligence 52

Business Intelligence Software Data-driven Predictive Modeling 52

CIO Business Intelligence

APRIL 8, 2024

Working with partner Amazon Web Services (AWS), the NFL has developed Digital Athlete, a platform that uses computer vision and ML to predict which players are at the highest risk of injury based on plays and their body positions. The first thing is having a data strategy, having a foundation of data, and then asking questions of it.”

Analytics 96

Analytics Broadcasting Predictive Analytics Metrics 96

AWS Big Data

FEBRUARY 29, 2024

Data is your generative AI differentiator, and a successful generative AI implementation depends on a robust data strategy incorporating a comprehensive data governance approach. Implement data privacy policies. Implement data quality by data type and source.

Data Governance 95

Data Governance Unstructured Data Metadata Data Lake 95

Smart Data Collective

DECEMBER 21, 2022

This market is growing as more businesses discover the benefits of investing in big data to grow their businesses. Unfortunately, some business analytics strategies are poorly conceptualized. One of the biggest issues pertains to data quality. Data cleansing and its purpose.

Business Analytics 110

Business Analytics Analytics Data Quality Big Data 110

Octopai

MAY 15, 2023

Here are some common cost areas where data lineage can be beneficial: Infrastructure and storage costs: Data lineage allows organizations to understand data usage patterns, access frequencies, and data dependencies. Data quality costs: Poor data quality can result in significant costs for organizations.

Data Quality 52

Data Quality Data Governance Data Integration Risk 52

CIO Business Intelligence

JANUARY 9, 2024

[Our firm’s leaders] wanted to make sure there were guidelines in place to protect the company, its data, and its people.” To get past those points, Colisto worked to educate leaders about the capabilities and risks of AI, seeking to move the company from “no to know.” What is our appetite for risk and how do we address it?

IT 121

IT Risk Cost-Benefit Enterprise 121

Alation

JUNE 9, 2023

D&A leaders from around the world gathered to discuss and find ways to overcome the latest challenges through strategies and innovations backed by data, analytics, and data science. This ties into the keynote, stressing that a CDO or CDAO goals must be aligned with the corporate strategy and vision.

Data Analytics 52

Data Analytics Analytics Data Quality Data-driven 52

CIO Business Intelligence

APRIL 11, 2024

“Oracle Cloud Infrastructure is now capable of hosting a full range of traditional and modern IT workloads, and for many enterprise customers, Oracle is a proven vendor,” says David Wright, vice president of research for cloud infrastructure strategies at research firm Gartner. The inherent risk is trust.

Enterprise 121

Enterprise IT Data Processing Strategy 121

CIO Business Intelligence

JUNE 30, 2023

And we’ll let you in on a secret: this means nailing your data strategy. All of this renewed attention on data and AI, however, brings greater potential risks for those companies that have less advanced data strategies. But it all depends upon a solid, trusted data foundation.

Internet of Things 80

Internet of Things Strategy Data Strategy Risk 80

Cloudera

MARCH 3, 2022

In 2017, Anthem reported a data breach that exposed thousands of its Medicare members. The medical insurance company wasn’t hacked, but its customers’ data was compromised through a third-party vendor’s employee. Considering the very real danger of data breaches, lawsuits, and damaged reputation, giving up is not an option.

Data Governance 96

Data Governance Enterprise Data Quality Metadata 96

Alation

AUGUST 9, 2022

But almost all industries across the world face the same challenge: they aren’t sure if their data is accurate and consistent, which means it’s not trustworthy. This can cause anything from day-to-day issues to significant business problems and risks. Many confuse data integrity with data quality.

Data Integration 52

Data Integration Data Quality Measurement Strategy 52

Alation

JULY 15, 2022

I recently led an online session, Data Monetisation and Governance , looking at the evolution of data governance , defining data ethics (from the Turing Institute ), and touching on the balancing act between using data to monetise (by increasing revenue, decreasing spend, or mitigating risk) and meeting ethical obligations.

Cost-Benefit 89

Cost-Benefit Data Governance ROI Risk 89

datapine

MAY 31, 2022

We discussed already some of these cloud computing challenges when comparing cloud vs on premise BI strategies. Like many other branches of technology, security is a pressing concern in the world of cloud-based computing, as you are unable to see the exact location where your data is stored or being processed. Compliance.

Risk 237

Risk Cost-Benefit Business Intelligence Data-driven 237

datapine

JANUARY 24, 2021

It is not just important to gather all the existing information, but to consider the preparation of data and utilize it in the proper way, has become an indispensable value in developing a successful business strategy. That being said, it seems like we’re in the midst of a data analysis crisis.

IT 317

IT Statistics KPI Data-driven 317

CIO Business Intelligence

NOVEMBER 13, 2023

Inadequate data management and governance Data is at the heart of digital transformation, and companies that don’t have adequate data management processes in place are likely to struggle. Ensuring data quality, privacy, and security is essential. Digital Transformation, IT Leadership, IT Strategy

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Digital Transformation Cost-Benefit Experimentation Measurement 137