Our View on the Results
Master data and data quality management has been ranked as the most important trend for six years in a row now. This is in line with findings of other BARC Surveys that repeatedly show companies are constantly battling with insufficient data quality. Hence, master data and data quality management will remain very important and is also linked to the equally stable significance of data governance, which was again ranked in third place this year.
Establishing a data-driven culture is ranked as the second most important trend. Since its introduction to the Trend Monitor in 2019, this trend has always been in the top five and is constantly gaining in prominence. This can be explained by the rising awareness that fostering a data-driven culture is vital to realizing the full data potential of a company.
Data discovery and data visualization and self-service analytics take fourth and fifth positions in our list of 19 topics, which underlines their importance. All the top trends combine organizational and technological elements. They act as a solid foundation on which most companies are keen to put great emphasis.
The top five trends represent the foundation for organizations to manage their own data and make good use of it. Furthermore, they demonstrate that organizations are aware of the relevance of high quality data and its effective use. Organizations want to go beyond the collection of as much data as possible and actively use data to improve their decision-making processes. This is also supported by data warehouse modernization, which holds on to sixth position this year.
Some trends have increased in importance since last year. Cloud for data and analytics and data catalogs are especially hot topics, which is in line with our perception of their importance and the frequency of inquires we get.
Agile BI has dropped from rank seven to rank fourteen. Embedded BI has also fallen two places to rank fifteen. For mobile BI (eighteenth place), a continuous downward trend can be observed over the years. However, most trends have remained quite stable since last year. The overall picture indicates that companies are concentrating on the basics of securing and managing their data before they shift their priorities on to advanced methods.
In the next few weeks and months, we will post and update a series of articles looking at each trend in more detail. You will learn how different regions, industries, user types, company sizes and best-in-class companies rate the various trends and how their views have changed since last year. Sign up for our newsletter below and we’ll keep you informed about the latest articles.