If the last year has shown us anything, it is that we live in a rapidly changing world. Norms and practices that were true one minute were flipped upside down in the next. In the business world, we faced an increasingly complex supply chain, new client demands, and a remote workforce. This left many of us searching for answers and clarity in a complex business landscape.
Despite all of this change, there is one thing that I take comfort in that has remained constant in the last few years. That is data. Data, like arithmetic, is a universal language. It can provide clarity around employee performance, customer behavior, the success of a new product, or the traction of a new marketing message. We see from new research coming out of Experian North America, that organizations are putting more of an emphasis on data. Compared to 12 months ago, 90 percent of those surveyed see it as being more important for their organization to be data-driven.
While the data itself has remained constant, the winds of change have also impacted the use of data. Now everyone across the business wants the latest insight and trends. As organizational leaders, we want the latest facts and analytics before we make a decision. We also need to trust that the information provided to us is the right data and is accurate.
Unfortunately, as we have seen over the years, that trust in data is sometimes lacking. As we continue to become increasingly reliant on data, we need to ensure the right level of data quality maturity across our organization. In fact, 74 percent of respondents think they need to improve their data management within the next 12 months to not suffer competitively or financially.
Data quality today needs to not just rely on manual processes given the scale of data sources and data usage. It needs to be automated where possible and rely increasingly on machine-learning and AI technology. That technology also needs to be leveraged by an increasingly wide range of business stakeholders. For many, upgrades will need to be made to existing technology to keep up with the changing demands.
Last week, the 2021 Gartner Magic Quadrant for Data Quality Solutions was published. The report provides an overview of 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.
At Experian, we empower organizations to better understand their data assets and transform their business. We develop products with the user in mind. Our tools are designed with modern technology to accommodate different users and experiences, ensure automation, and reduce manual work.
We also believe that it is not just about how much data you have, but if you have the right data. Customer data is some of the richest data assets an organization possesses, but also some of the most challenging. Our rich history of customer data quality and the comprehensive data assets of Experian enable businesses to gain a deeper understanding of their consumers, which is critical given behaviors and habits keep changing.
We are proud to be named a Challenger once again in Gartner’s 2021 Magic Quadrant for Data Quality Solutions. We believe in the power of data and work every day to help our clients unlock valuable insights from trusted information.
Gartner: Magic Quadrant for Data Quality Solutions, Melody Chien and Ankush Jain, September 30 2021. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
