Last week, Gartner released the new 2019 Magic Quadrant for Data Quality Tools. The report provides an overview of the players in the space and the “key capabilities that organizations need in their tool portfolio, if they are to address the increasing importance and urgency of data quality”.
What I particularly like about that line is the “urgency of data quality.” Today’s businesses are demanding more from their data than ever before. With digital transformation and increasing competitive pressure, organizations have to provide personalized experiences when they have fewer face-to-face interactions. They have to get more efficient while also increasing the channels and ways they interact with the consumer.
To accomplish this challenging task, businesses have no choice but to leverage their valuable data assets. The challenge is that up until this point, data was handled by a select few. You as a business stakeholder have to submit your data or insight request and then wait. Eventually, someone would get back to you with the insight you needed, but only if they fully understood your request to begin with.
That entire landscape is changing. Now, everyone wants data. The marketing professional, the financial analyst, the customer service representative all want and need data insight to succeed. Therefore the old model of requesting a report or insight doesn’t work anymore. Many are looking to take more control themselves. In fact, according to a recent Experian study, 75 percent of respondents believe data quality responsibility should ultimately lie with the business with occasional help from IT.
The rise of the business user is putting more pressure on the tools they leverage. They all realize they want to do more with data, but that data needs to be trusted and be fit for a given purpose. Therefore the “urgency of data quality” is being felt right alongside the urgency to leverage data effectively.
That is putting new pressure on the technology those users will leverage. Data quality tools have traditionally been built for the IT market. However, now business stakeholders need to leverage technology to manage, manipulate, and prepare their own data. New Experian research shows that ease-of-use by business users and the ability to work with existing technology are now more important to buyers than just features and functions. This means that stakeholders need to relook at their data quality technology to see if it can meet these new demands.
In the new Gartner report, Experian is proud to be named a ‘Challenger’ once again in Gartner’s 2019 Magic Quadrant for Data Quality Tools. We believe in the changing nature of the business and are working to challenge the status-quo in our industry and for our clients.
To make trusted data a reality, companies need to empower business users to better understand their data assets and gain the necessary insight in today’s digital economy. Take a look at the technology you are leveraging and make sure it is going to allow you to tackle your data projects with speed and agility, giving you the confidence and clarity to put data to use.
Access the Gartner 2019 Magic Quadrant for Data Quality Tools report.
Gartner: Magic Quadrant for Data Quality Tools, Melody Chien and Ankush Jain, March 27, 2019.
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