Why your data catalog won’t deliver significant ROI
According to Gartner, organizations that provide access to a curated catalog of internal and external data assets will derive twice as much business value from their analytics investments by 2020 than those that do not.
That’s a ringing endorsement of data catalogs, and a growing number of enterprises seem to agree. In fact, the global data catalog market is expected to grow from US$210.0 million in 2017 to US$620.0 million by 2022, at a Compound Annual Growth Rate (CAGR) of 24.2%.
Why such large and intensifying demand for data catalogs? The primary driver is that many organizations are working to modernize their data platforms with data lakes, cloud-based data warehouses, advanced analytics and various SaaS applications in order to grow profitable digital initiatives. To support these digital initiatives and other business imperatives, organizations need more reliable, faster access to their data.
However, modernizing data platforms can create problems, including data sprawl and the propagation of ungoverned data and data quality issues. Although data catalogs can deliver some value by providing visibility into datasets across an organization and helping users better understand relevancy, usability, and relationships between data, is a traditional data catalog ultimately the best solution? Organizations looking to take a “future-proof” approach to data platform modernization may want to consider their options before jumping on the data catalog bandwagon.
Consider this: a traditional data catalog is “passive” and can only deliver limited business value. Enterprises that truly want to derive value from data into the future need to put in place an “active data hub” that enables broader self-service access and data transformation capabilities. Let’s look at why and how.