Creating Value with an Enterprise Data Bazaar

Lead researcher: Katy Ring, Research Director – IT Services

At 451 Research, we believe ‘the enterprise data bazaar’ can help organizations that aim to become more agile by using data to inform the direction and development of their businesses. The phrase ‘enterprise data bazaar’ is a term used to define an environment where many people can access and leverage that information to build data-driven products.

To achieve this, businesses need unified data management layers, so that data scientists and subject matter experts can decide how to deal with the stored data. These layers enable the use of datasets – or a data lake – to provide value without siloing information within the organization. However, many organizations have ended up with what could be described as a ‘data swamp’ – a single environment housing large volumes of raw data that cannot be easily accessed for any purpose, let alone multiple uses. Creating a data bazaar with these management layers would break apart the swamp by putting security at the foundation of this approach by building out the data governance and self-service data preparation functionalities.

When speaking to our clients that have data lakes, many are struck with the realization that they did not fully comprehend the risks associated with what they have built. Companies struggle to audit their lakes as part of compliance measures since each source system has difference governance and security policies. This struggle is caused by the self-service nature of a data lake, where data can be access for nearly any purpose, making it unclear is a company has protected PII data as part of regulations like GDPR.  

When companies are in this scenario, vendors and service providers are opening an internal role for a chief data officer (CDO) that can help get the business back on track. Together, this group can work out a remedy for the situation. One solution is to build a “sandbox” environment that includes company-wide policy, controls and metadata management with a ‘citizen’ data integrator tool which allows the user to give back or develop analytics on how they are using the data. With this type of tool, users can still access data in a self-service way and allow that access to be overseen by the IT group or CDO before it moves to production as a data product.

In addition to this self-service ‘sandbox’ data preparation layer, IT service providers can help companies with data governance and the data supply chain. Such providers assist in sourcing, managing and enriching the data, and sell managed services for policing data consumption. For example, in an audit, organizations need to know the data they hold, who uses it and what for. This regulation provides a strong opportunity for developing the enterprise data bazaar.

Furthermore, the self-service analytics and governance layers need to be architected the right way to enable a range of use cases over time, and this is often not what results from the development of a single-use-case project. Therefore a CDO role is so very important: this individual is the internal champion with authority to get agreement on a company-wide strategy for the capture, management and sharing of data.

Katy Ring, research director of IT services at 451 Research, examines the benefits of enterprise data bazaar, the technologies, service providers and strategies used to enable them in her Technology and Business Impact report on the Enterprise Data Bazaar. Learn more about this report.
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Assessing the Impact of Data Science on the Analytics Landscape

The evolution of data science – including machine learning, deep learning, and other forms of artificial intelligence – has had a significant impact on the data analytics landscape in recent years, and looks set to drive considerable change in the market in the coming years.

In response, 451 Research’s new Data Management and Analytics Market Map 2018 includes a complete re-categorization of our Analytics Market Map to reflect the realities of analytics users and use cases today, dividing the analytics market into four key sectors:
  • Analytics tools
  • Analytics platforms
  • Data science tools
  • Data science platforms
During this webinar, 451 Research’s Research Director, Data Platforms and Analytics, Matt Aslett, will explain the rationale and definitions behind the new categorization, as well as identifying the key challenges and innovations that will shape the analytics and data science market, and also revenue and growth expectations.

The webinar will also touch on other aspects of note delivered with the Data Management and Analytics Market Map 2018, including:
  • The ongoing evolution of Corporate Performance Management
  • The addition of Data science Management to the Data Management Market Map
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Software 2016: analytics, acceleration and agility

Analyst: Nick Patience

As technology permeates every corner of our lives, industries previously defined by physical assets are being disrupted by competitors owning no such assets. We know about the likes of Uber and Airbnb, which own no taxis or hotel rooms, but there are plenty of other examples of industries being transformed into digital services, such as farming, laundry, legal advice and money transfer, to name just a few. And those physical assets that are essential are becoming Internet-enabled, providing new opportunities for automation and analysis, as well as new cyber-security challenges.

The 451 Take

An inescapable truth is that every business is becoming a digital business, controlled by software. Companies that don't understand this face the prospect of dislocation, as we have seen with taxis, banking and hotels. Enterprises can expect more asymmetric competition as software continues to disrupt the way that value is created and monetized. Legacy market participants may feel they have the digital assets and people they need, but many lack the imagination to spot where the next disruption is coming from. We believe three broad trends will drive the disruptive forces of software in the enterprise market in the coming year and beyond: analytics, acceleration and agility.

Read the full report here.
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