Data Governance Market, By Application (Incident management, Process management, Compliance management, Risk management, Audit management, and Others), By Deployment (Cloud and On-premise), By Organization Size (Large-scale Business and Small- and Medium-scale Business),By Industry Vertical (Banking, Financial Services, and Insurance, Government and defense, Retail and consumer goods , Telecommunications and IT, Construction and engineering, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024

Code : CMI5126

Pages :168

Formats :

Excel and PDF

Industry : Information and Communication Technology

Market Concentration and Competitive Landscape

Data Governance Market Concentration By Players

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Data as a Strategic Asset

In the age of digital transformation, data has become one of the most valuable assets for businesses. However, to fully leverage its potential, organizations need to manage it as a strategic corporate asset rather than as an IT infrastructure component. Proper data governance promotes a single version of truth by bringing together disparate data sources on a common platform. This allows for improved quality, consistency, and integrity of organizational data. It further helps break down silos within organizations to foster collaboration and insights across business units.

With good data governance practices in place, businesses can leverage analytics to gain deeper customer understanding, detect new revenue opportunities, optimize processes, and make strategic decisions backed by data-driven insights. It also facilitates centralized data management without compromising local business requirements through role-based access controls. This helps deliver consistent customer experience worldwide. Furthermore, establishing accurate metadata helps identify data monetization potential through sale or licensing of anonymized datasets.

For instance, May 2023 saw Informatica announcing substantial innovations to its AI-powered Intelligent Data Management Cloud (IDMC) at Informatica World 2023. These enhancements span data engineering, Mobile Device Management applications, and data governance, with the goal of helping enterprises reduce costs, maximize resources, and improve productivity while accelerating time to value.

Key Players Insights