Many if not most organisations are seeking to use data to make better business decisions, yet the task need not be as tough as they imagine, Solidatus co-CEO Philip Dutton has suggested.
“The demon of complexity is the thing we’re all struggling with,” Dutton said, speaking at a recent event in London, UK.
What most organisations could do, according to Solidatus, is develop a data blueprint that eases the complexity of a dynamic situation yet still delivers knowledge and context that improves decision making.
The “trappings of pivoting” towards a more data-driven business don’t really have to be so complex, even if growth acceleration is sought.
Dutton said that agility, innovation and disruption can all be achieved and that this is especially important in a fast-changing digital world.
Meanwhile, data lineage tools allow organisations to rapidly visualise data flows in ways that help them understand and trust data, enabling them to make decisions that reduce costs while maintaining compliance and mitigating risk.
One specific area where data blueprinting and tooling can help is around environmental, social and governance (ESG) requirements, according to Solidatus’ other co-CEO, Philip Miller, who spoke at the same event.
“If we do our jobs right, we can save the planet,” Miller said.
ESG requirements are constantly developing, increasing the pressure on organisations to create and implement for current and future compliance.
Businesses increasingly need to live and breathe a data-driven culture, with ESG fused into the company mindset – making it everyone’s responsibility, Miller said.
Data lineage focused offerings can help customers and partners ensure that ESG data in an organisation can be mapped and visualised in a clear and linear way. This means important information can more easily reach the right people at the right time, flowing into the right processes.
Organisations also typically have to publish a strategy that holds up to public scrutiny as the court of public opinion will come to bear on ESG initiatives — and this requires accurate data reporting and management.
Solidatus believes that data lineage and governance offerings available today can give organisations the control points to get good returns or secure future investments as well as helping save the planet, he suggested.