Most of today's business leaders are aware of – and have even started implementing efforts for – digital transformation. These types of initiatives have seen considerable attention recently.
When one considers that 95 percent of startups and 87 percent of traditional enterprises have already begun formulating their digital transformation plans, according to Forbes, it isn't hard to understand why it is becoming a top priority.
However, this journey also presents several challenges for organizations – not the least of which is managing, maintaining and ensuring the security and accessibility of the vast amounts of data created.
Data siloes can cause significant hang-ups. When organizations don't organize and make use of the considerable digital data assets they have available, they could miss out on real opportunities to differentiate themselves in the marketplace and bolster the success of their enterprises.
For these reasons, it's imperative that the digital transformation journey begin with the deployment of a robust data catalog that can support businesses during this time of critical improvement.
The state of digital transformation: By the numbers
According to a report from IDG, not only do the vast majority of startups and enterprises have plans for digital transformation, but a good percentage – 55 percent and 38 percent, respectively – have already put a full-fledged transformation strategy in place.
What's more, the results of transformation efforts are hard to argue with. The study found that, when undertaken successfully, digital transformation – including migrating workloads to the cloud, establishing a data lake and leveraging analytics tools, implementing additional mobile technologies and using APIs and embedded solutions – can result in a 34 percent revenue increase for startups, and a 23 percent boost for enterprises.
Challenges with digital transformation: Siloed and invisible data
However, with an increasing amount of information and processes being converted to digital platforms, certain challenges emerge that must be pinpointed and addressed. Much of these involve the organization's data, the volume of which is doubling every year, according to Informatica's Roger Nolan.
"That means it's getting harder and harder to find the forest (read: business insights) for the trees," Nolan wrote.
A report from Forbes and Informatica highlighted a few key challenges to be aware of in connection with data and digital transformation, including:
- Findability, including users not being able to locate – or not be aware of the existence of – the necessary data assets required. This can extend to not being sure which stakeholders to approach for guidance in finding data assets.
- Accessibility, or the "democratization of data," and ensuring that those who need data assets can securely access and make use of them.
- Quality data sources, and being unsure about whether or not they can trust the quality of data points.
As more digital data is created during the digital transformation journey, these issues only become more pressing and prevalent challenges standing in the way of organizational success.
The solution: An advanced data catalog
In order to avoid these obstacles and better support digital transformation, enterprises must implement a data catalog that can help eliminate siloes and enable findability, accessibility and quality.
"It's a fact: the first step in any data-driven transformation project is finding the data you will need to drive the new analytics and new business processes that are core to the success of that project," Nolan wrote. "Wouldn't it be great if you had a data catalog that could show you exactly what data you have across your entire organization?"
The Unifi data catalog allows users to catalog all types of different data assets in place, establishing a robust repository of informational assets. Users can search the catalog within a Google-like experience, and can also rate the quality of datasets, which is then visible to other users. This level of usability and collaboration isn't possible without an industry-leading data catalog like that of Unifi.
To find out more, learn more about our data catalog and connect with us for a free trial today.