I recently had the privilege to talk at a CampIT event in Chicago, a very well-attended event at the Stephens Convention Center near Chicago’s O’Hare airport. Analytics professionals gathered and shared ideas on technologies like Hadoop, big data analytics, columnar store databases and in-memory technologies – to name just a few of the topics.
Challenges of Modern Analytics
In my presentation, I covered some of the challenges in modern analytics. Perhaps the biggest technical challenge we’re facing is the ever-growing volumes of data in our organizations. More data means that our legacy analytical solutions are slowing, making it harder and harder to deliver analytics at the right time for the right audience. Business user may lack the technical understanding of how this affects them. They only know that they can’t get answers and business intelligence as readily as they need to.
Another challenge is that IT professionals continued to be asked to do more with less funding. According to Gartner, IT spending increased only about 0.8% this year. IT is spending all of their funds on keeping the wheels on the bus spinning, but few funds in IT are available to innovate. Other budgets, like marketing and sales technology spend are increasing, however. IT is still seen as a cost center in many organizations, while the business side is considered to be revenue-generating.
Data Governance Can Help
Data governance can help us tap into the business-focused budgets with a couple of important edicts:
1. IT should form an alliance with business users
Take a real interest in some of the challenges that your business users have by inviting them for coffee or giving them an opportunity to beef about their challenges.
2. IT should focus on important business aspects of the IT initiative
If you ask your business users, the most important aspects of IT aren’t technical. The three most important business aspects of any initiative is revenue, efficiency and compliance. IT should be trying hard to help the company make more money, be more efficient in the way that day-to-day business is done, and compliance with state, local, federal or industry regulations.
3. The data governance team should initially pick projects that can provide quick return on investment and track benefits.
Quick wins that are profitable to the corporation form an agile approach to data governance. Initiatives shouldn’t take months or years, but days or weeks. When users see the value that IT is bring to the organization, they will want to work with you on solving their issues.
4. Analytics is just one of the systems of opportunity to begin your data governance initiative.
Providing fast analytics with Vertica’s help is just one system of opportunity to move your data governance initiative forward.
Tap into Business Budgets
By understanding your business user’s needs, providing a strong ROI and talking about the business benefits of Vertica, you can sell the benefits of big data analytics into your organization. Again, it’s about revenue, efficiency and compliance in your business. It speaks to revenue when you have execution windows to run analysis that you have never had before and now you can find new ways to reach your customers. It speaks to efficiency when you increase speed, typically hundreds of times faster than the old way of doing analytics, and avoid worries about a long analysis taking up too much processing time. It speaks to compliance when you can deliver analysis that’s fast and accurate, and analysis that you don’t have to check and re-check it before you deliver it to a broader audience.