IDC’s Future of Customers and Consumers practice studies the relationship between consumers and business and the data and technologies that create frictionless customer engagement, superior customer experiences and customer loyalty.
IDC has been using the phrase “data intelligence software” to describe a category of capabilities that provide intelligence about data, and the term “data intelligence” has caught on in the industry. But not all definitions of data intelligence are equal. Let’s take a closer look at how IDC defines the term, and some permutations that have emerged.
Data governance is no longer optional for enterprise organizations. Aside from complying with new regulations, such as the General Data Protection Regulation (GDPR), organizations are finally realizing the value of data as an asset that needs to be protected, managed and maintained to increase asset value. But just because businesses understand the value of data governance, doesn’t mean that enterprises are confident in their abilities to execute on it.
Data governance is no longer optional: regulations such as GDPR will start to be enforced; and organizations are finally realizing the value of data as an asset that needs to be protected, managed and maintained to increase asset value. Because data is a digital asset, and has mostly been managed within the realm of IT, organizations are quick to look at technology, expecting to find data governance software and solutions; but technology is only part of the solution.
While it is a newer technology, blockchain is already disrupting financial services, insurance, healthcare and supply chain solutions. Two main causes of this disruption are blockchain’s ability to enable disintermediation, and how it provides an immutable historical record of data. Blockchain technology itself solves many of the problems that data governance professionals, and data management technology vendors have been trying to solve for years: group consensus on the most recent version of the truth for a given entity, and full instance lineage (provenance) of the data.
While blockchain has been able to transform these solutions, forward-thinkers are asking: will blockchain have the same disruptive effect on data management? There are two main factors to consider when assessing blockchain’s potential to disrupt data integration, storage, and data integrity: