Being an international publishing company, the largest media group in Scandinavia and owning some of the largest newspapers in Sweden and Norway, on top of all operating classified business ads and media sites for over 20 countries, for Schibsted Media Group implies collecting a lot of data. But as it is, data is only valuable if you know how to analyse it and take action.
When it comes to data governance policy, companies are aware they need one, but few of them know where to start. A lot of them are at a crossroads when it comes to creating a policy that works for their organisation. But the first instinct of reaching to a standard policy wouldn’t work because it won’t meet your corporate strategy.
Data quality is considered as the highest commandment in data management. And it’s with a strong purpose. Only quality data is useful data, and to be quality it must be consistent and unambiguous. All data that is gathered, stored and consumed during business processes directly impacts the success of the business.
Bad data is the number one enemy for data-driven companies. Although organisations are investing money and effort into eradicating bad data, it still presents a challenge. Decisions made on bad data can turn fatal for the business. But how can companies make sure they are aware of it and find ways to deal with it?
Everyone agrees that there is value in data science and advanced analytics. But still, companies are struggling to see that value in their business. Francisca Zanoguera from Expedia at her presentation at the Data Innovation Summit 2019, draws attention to a McKinsey study showing that only 8% of companies have managed to implement machine learning into their processes and only 12% have managed to go beyond the experimentation phase.
As early as 2006, Gartner predicted that 90% of organisations would fail in the efforts to implement data governance. And today, these predictions have become reality. According to David Dadoun, Senior Director Business Intelligence and Data Governance at Aldo Group, only 10% of organisations that have deployed data governance are going to get any value from it. This leads us to ask: why is that?
End of content
No more pages to load