Real-Time Data and AI Drive Businesses Today
Data is an extremely valuable asset to almost every organization, and it informs nearly every decision an enterprise makes. It can be used to make better decisions at almost every level of the enterprise—and to make them more quickly. But to take full advantage of the data and to do so quickly requires artificial intelligence (AI). So, it is no surprise that nearly all participants in our research (87%) report that they have enabled or piloted AI features in analytics and business intelligence applications. Today, data is collected in more ways and from more devices and more frequently than ever before. It can enable new methods of doing business and can even create new sources of revenue. In fact, the data and analyses themselves can be a new source of revenue.
Independent software vendors (ISVs) and data providers understand the importance of data in AI-based processes, and they are designing products and services to help enterprises step in and harness all this data and AI-generated business energy. To maximize the opportunities, ISVs and data providers need to recognize that enterprises use various types of data, including data from both internal and external sources. In fact, our research shows that the majority of enterprises (56%) are working with 11 or more sources of data. Governing the various data sources becomes critical because poor quality data leads to poor AI models. Our research shows the top benefit of investing in data governance, reported by three-quarters of participants (77%), is improved data quality.