Organizations need to radically address the way in which they look at data management to help them deal with the growing level of information they now have to store.
According to Joshua Greenbaum, principal analyst at Enterprise Applications Consulting, enterprises are now faced with the prospect of collecting data from a number of sources, Inside SAP reports.
"We see data as absolutely fundamental to companies, so there's a complexity in the quality and quantity of data and a complexity in the analysis which really requires the beginning of a culture of information," the news provider cited Mr Greenbaum as saying.
The industry expert argues that in order to maximize the impact of the data they collect companies need to "tap into different skills sets", adding that they may even need to change their business structures.
"One of the more radical proposals to address this is the creation of a chief data officer, whose job is really to mirror the functions of the chief financial officer on the data side," Greenbaum said.
Posted by Richard Jones