Anticipating Data and Analytics Trends: A Strategic Imperative for CDAOs

The complex task of leveraging AI and becoming a true data driven organization requires a business anchored plan that is not “only” a technology roadmap. 

 

In the fast-evolving world of data and analytics (D&A), staying ahead of trends is critical for Chief Data and Analytics Officers (CDAOs). Gartner’s recent report, "Over 100 Data and Analytics Predictions Through 2030," provides valuable insights for CDAOs to navigate future challenges and innovations, helping them deliver impactful business outcomes. 

  

Key Predictions from Gartner's 2024 Forecast 

  

Gartner's report highlights several significant trends in core D&A and AI, emphasizing that these will shape the future of digital business strategies. Here are some of the key predictions CDAOs should incorporate into their strategic planning, to ensure that they can manage the new situation that otherwise can stop progress: 

  

• By 2027, 80% of D&A governance initiatives will fail due to a lack of a real or manufactured crisis. 

• By 2027, 75% of data, digital or analytics products will be made redundant, or marketplaces shut down, as “too few ‘customers’ came to use them.” 

• By 2027, the application of GenAI will accelerate time to value of D&A governance and MDM programs by 40%. 

• By 2027, 50% of data analysts will be retrained as data scientists, and data scientists will shift to AI engineers. 

 

Governance and Master Data Management (MDM): A Need for Reset 

Data governance and MDM initiatives often fail despite years of investment. Gartner projects that by 2027, 80% of D&A governance programs will not succeed due to the lack of a significant crisis driving change. Additionally, 75% of digital or analytics products will become obsolete as too few stakeholders engage with them(Gartner, 2023, p.7). 

To avoid such failures, Gartner advises CDAOs to focus on rebranding governance as a key business enabler, rather than a compliance exercise. Moreover, the application of Generative AI (GenAI) will accelerate the time-to-value of governance and MDM programs by 40% by 2027, further demonstrating the importance of integrating innovative AI solutions into core business strategies (Gartner, 2023, p.7). 

  

Why It Matters for Northridge Analytics Clients ?

  

At Northridge Analytics, we recognize the importance of leveraging these forward-looking insights to enhance our clients' business strategies. Our approach to data governance and AI is aligned with Gartner’s predictions, ensuring that we deliver not only technical solutions but also meaningful business outcomes. By staying ahead of these trends, we help our clients capitalize on the opportunities presented by D&A innovations and avoid the common pitfalls in governance and MDM. 

Northridge Analytics supports our clients to create actionable plans based on business needs and roadmaps while ensuring that predictions such as described above are considered. As AI and the move towards data driven business will require a large amount of change in the organizations, this is often an undertaking that need very specific competence and experience. 

To be able to change all initiatives must have a very clear business value and needs to be anchored in the organizations. A challenge we often see is the mistake of thinking that a D&A strategy is an IT and technology questions. 

  

Conclusion 

  

As Gartner's report emphasizes, anticipating and adapting to data and analytics trends is no longer optional—it is critical for business survival and success. By embracing these predictions, CDAOs can lead their organizations towards stronger strategic visions, enhanced data governance, and more impactful use of AI technologies. For organizations looking to stay competitive in an ever-evolving digital landscape, now is the time to act on these insights. 

  

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 References 

  

Gartner, "Over 100 Data and Analytics Predictions Through 2030," by Sarah James, Alan D. Duncan, April 2024. 

  

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For more insights or to discuss how Northridge Analytics can help your organization, contact us at  John.Wernfelt@northridgeanalytics.com.