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Data Management: Businesses Often Struggle to Demonstrate Value and ROI
Long term investments into data warehousing may not be paying off, according to a survey by Dremio. The study found that only 22 percent of companies felt that they’ve seen a positive return on their software investment, although this is complicated by the fact that 56 percent say that they don’t know how they can measure ROI.
Those results are actually a lead-in to a tool that Dremio offers companies to assess their data management ROI. The Dremio tool is called the Data Value Scorecard.
The study found that it is very common in businesses that use analytics to make multiple copies of data, and on average, those companies have twelve copies of data. Keeping that many copies is nowhere near being optimal.Another big problem area is being able to import and transform data into the analytics software in a consistent format are common and that more than 80 percent of businesses say that they’ve been forced to use inconsistent older data and part of the data set being analyzed. It is also not uncommon for the data import process to occur weeks after the data was originally collected.
Billy Bosworth, CEO of Dremio, said that “data leaders are frequently concerned about the out-of-control costs of data warehouses, particularly as their workloads grow – a big surprise to them since the data warehouse cost of entry can be low to start. Moreover, the lack of predictability around future costs leads to very poor financial governance for data leaders and CFOs alike.”
