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By Luiz Junqueira *
The way companies deal with complex challenges related to the collection, use and application of data can determine whether they will be successful or will enter the business statistics that have sunk because they are unable to adapt to the market moment. The pressure to show transparency in the processes that guarantee consumer privacy and the need for valuable insights that bring effective results make these points of attention commonly related to making decisions more and more secure through accurate and reliable data.
There are many ways to overcome this pressure, but perhaps the best - and the most difficult - is to develop skills to improve the quality of the data generated and, at the same time, maintain an analytical view. For this to happen, it is necessary to create alternatives to increase confidence in the accuracy of the data and have constant access to it. According to Global Data Quality Survey 2019, performed by Experian, one third of the data generated is inaccurate in most companies, limiting its use to generate better business results.
From the results pointed out in the study, there is a series of indications that it is necessary to improve infrastructure and data management practices by companies worldwide. This is because they are unable to provide business alternatives to deal with the volume of information generated and the amount of systems collecting data. The survey points out that approximately 89% of the companies interviewed stated that they are still struggling to arrive at an effective management model, resulting in delays in generating insights and a lack of confidence in the underlying data.
There is a desire for change and perhaps the alternative is to embrace the decentralization model of data management in the Information Technology (IT) department. This model tends to be efficient since, according to the research, about 84% of the companies count on the help of the IT team to manage the volume of information and the area accounts for only 53% of the new data-driven projects. In this scenario, those who combine areas to conduct the process (28%) and teams led by a Chief Data Officer (CDO) (24%), whose main role is to take care of the data, already appear at the front of these initiatives.
Who's afraid of the CDO?
It may seem that the position of Chief Data Officer will be very demanding of business, but in fact this professional has a much more strategic than operational function. It is not enough to replace the IT department, but rather to deliver the strategic direction of data usage, to ensure that the right people have the right tools to manage or have access to relevant data in the context, in addition to delivering the best direction for the business. . In the decentralized model, the rules need to be defined with the areas of compliance, data quality, legal, security, among others - a process that is certainly facilitated in companies that have a CDO.
This movement is already happening in some companies, but it needs to mature. From the responses collected by Experian, it is possible to understand that those 13% of the respondents who already operate in the decentralized model are not yet fully organized, and this may explain why they seem to experience the same challenges as those controlled entirely by the IT area. Still, we see positive signs of change in some companies. When we look at the factors that influence purchasing decisions for data management technologies, the main requirement considered is ease of use by business areas in 43% of cases. This is a positive sign that giving control to these users is becoming an essential requirement for participants, whether they are in the IT field or not.
Betting on the CDO figure is already a clear sign that companies are investing in qualitative data collection and are ready to create a strategy based on them that will support their business. Otherwise, even in a decentralized model, other decision makers in the company may not have a clear vision of why investing in fundamental items, such as specialized technology, is the only way to extract the maximum value from advanced analyzes.
* Luiz Junqueira, Director of Products at Serasa Experian
Warning: The opinion presented in this article is the responsibility of its author and not of ABES - Brazilian Association of Software Companies
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