Commentary

Data Pride: Firms With High Confidence Act Differently Than Those Without It

Data challenges affect every department in a company, particularly the email team. And the biggest issues concern access to data from other units, judging by The State Of Data Confidence, a study from Collibra, conducted by Ascend2. 

Of the professionals surveyed, 90% say they would benefit from improved data sharing, moderately or significantly. But only 21% list reducing information silos as a top priority.  

As it is, there are several hurdles to accessing data from other departments:

  • Data-quality issues impacting the trustworthiness of shared data — 44%
  • Data silos that prevent efficient data sharing across teams — 37%
  • Inconsistent data standards or definitions across departments — 32%
  • Limited data visibility or discoverability within the organization — 32% 
  • Manual processes causing delays in data access — 30% 
  • Difficulty in tracking data lineage for context and reliability — 28% 
  • Lack of centralized data catalog or repository — 26%
  • Insufficient access controls to permissions for secure sharing — 24%

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How adept are companies managing these ai tasks? They rate themselves as having: 

  • High confidence — 45%
  • Moderate confidence — 42%
  • Low confidence — 11% 

High-confidence organizations tend to: 

  • Monitor data consistency — 59% 
  • Access timeliness of data — 44% 
  • Validate data formats — 52%
  • Maintain high visibility into data pipelines — 64% 

Overall, 55% of high-confidence firms feel their data is highly consistent. In contrast, firms in the less confident groups act as follows, with the following actions:

  • Monitor data consistency — 47% 
  • Access timeliness of data — 24% 
  • Validate data formats — 42%
  • Maintain high visibility into data pipelines — 20%
High-confidence firms also follow these data governance practices:
  • We have well-established data governance roles — 61%
  • We have fully standardized data policies and terminology across the organization — 59%
  • Regular audits are conducted to monitor data governance practices — 57%
  • Our data governance roles align closely with overall organizational goals — 55%
  • We have defined KPIs that track data governance performance — 53%
  • We have fully standardized definitions — 52%
On another front, brands are attempting to cope with artificial intelligence. The top challenges when building or deploying AI models are:
  • Reliability of data — 53%
  • Ensuring compliance with growing regulations — 45% 
  • Assessing potential risks — 41%
  • Balancing pressure to ship new AI models quickly with the need to minimize risk — 41%
  • Traceability/explainability of data — 39% 
  • Ensuring alignment across cross-functional stakeholders — 36%
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