Data as the New Water: The Importance of Investing in Data and Analytics Pipelines

An IDC InfoBrief, sponsored by Qlik
By: Dan Vesset, Group Vice President, Analytics and Information Management

Qlik has sponsored a global IDC study to show organisations that invest in creating data-to-insights (D2I) capabilities through modern data and analytics pipelines are seeing significant gains.

A New Focus on Data and Analytics

For years we have heard that “data is the new oil” or “data is an asset.” However, these refrains have never quite made it to the executive office.

Today, as we face heightened uncertainty, data and analytics have taken on increased importance as inputs into better decision making and subsequent actions.

Have you noticed a change in how your organization’s executives talk about data? Analytics? Enterprise intelligence?

• 87% of CXOs said that becoming a more intelligent enterprise is their priority for the next five years. (Source: IDC CXO Survey, Q1 2020)
• Even as economic indicators have taken a hit, 25% of respondents to an April 2020 IDC poll still expect short-term spending on solutions to manage and analyze data to increase.
• Another 26% told IDC that short-term spending would stay the same as compared to their budget. The rest expect a decline.

Organizations are now starting to think of data as the “new water.”

Like water, data must be accessible and clean. It is needed to survive … and to thrive.

Data as the New Water

• Like water, data comes from different sources.
• Water requires a network of pipelines with wells, pumps, aqueducts, filters, containers, valves, cisterns, and other artifacts necessary to identify, transform, process, analyze, deliver, and package the resource.
• Data is a resource that also must be identified, gathered, transformed, and analyzed to glean insights. The ultimate goal of such a “Data to Insights” pipeline is to influence better decision making (first-order benefit) and deliver business value (second-order benefit) by both humans and machines.

Download the report to find out more.