56% of Knowledge Leaders Are Growing Their Budgets: Insights from 300+ Knowledge & Analytics Leaders for 2023 – Atlan

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This 12 months’s Gartner Knowledge & Analytics Summit simply wrapped up in Orlando, Florida. What a whirlwind three days stuffed with deep discussions and insightful learnings!

This 12 months, information and analytics (D&A) is extra necessary than ever in shaping how we work. Insights from information are essential for choices each large and small. And that’s the place information leaders are available — taking that information and switch it into invaluable insights to assist their organizations develop.

Whereas we have been on the Gartner Knowledge & Analytics Summit, we took the chance to speak to over 300 information leaders in regards to the 12 months forward. They shared their ideas on what they’re enthusiastic about, what they see forward for D&A, their cloud adoption methods, and far more. Right here’s what we came upon.

56% of information leaders are rising their budgets this 12 months

Essentially the most shocking discovering is that over half (56%) of information leaders mentioned they elevated their price range for D&A in 2023. Solely 8% mentioned that their price range decreased this 12 months, whereas 36% of leaders’ budgets stayed the identical.

It’s nice information that the majority organizations are nonetheless rising their budgets for information amidst current financial uncertainty. It exhibits that they nonetheless consider within the significance of information and analytics and are keen to spend money on it to drive progress and innovation.

Knowledge governance is the highest precedence for 60% of information leaders

Knowledge governance is a significant precedence for information leaders heading into 2023. Actually, 60% of them mentioned that it’s their high precedence for the 12 months.

Different priorities embrace information high quality (46%), information science and machine studying (40%), and DataOps (22%). This concentrate on bettering how information is managed, protected, and validated is a superb signal for organizations, since good information is the bottom of fine insights and choices.

Curiously, solely 34% of the leaders we surveyed mentioned that self-service was a high precedence. Whereas that is nonetheless a big quantity, this shift towards prioritizing governance and information high quality might mirror how information leaders have struggled with self-service for years. In any case, making self-service work requires good governance — understanding what information is offered, who owns it, the place it comes from, whether or not you’ll be able to belief it, and so forth.

42% of information leaders hold the vast majority of their information within the cloud

Cloud computing is turning into increasingly widespread, and information leaders are not any exception. We discovered that 42% of the info leaders we surveyed already retailer greater than half of their information within the cloud.

In distinction, 35% of information leaders haven’t but shifted to the cloud. 21% mentioned they’ve lower than 10% of their information within the cloud, whereas 14% have 11-25% of their information within the cloud.

Moreover, 23% of respondents reported having 26-50% of their information within the cloud, 22% reported having 51-75% of their information within the cloud, and 20% reported having greater than 76% of their information within the cloud.

These findings recommend that whereas a big variety of organizations are transitioning to the cloud for his or her information wants, there’s nonetheless a substantial share of organizations that haven’t totally adopted cloud computing for his or her information.

Knowledge leaders are most excited in regards to the prospects of generative AI

Do you know that ChatGPT is the quickest rising shopper app ever? It reached 1 million customers in simply 5 days. With this hype, it’s no marvel that information leaders can’t wait to check out generative AI.

Over 55% of information leaders we surveyed mentioned that they’re are most excited in regards to the prospects of generative AI in 2023. Generative AI has the potential to automate duties, scale back human error, and enhance effectivity — a game-changer for organizations that need to leverage the facility of synthetic intelligence.

Different applied sciences that caught their consideration are information mesh and information cloth (38%), lively metadata (30%), and information observability (30%). Against this, just a few information leaders (7%) have been most enthusiastic about information contracts.

Solely 33% of information leaders observe their staff’s ROI

Monitoring metrics is important for measuring the success of D&A initiatives. Sadly, our survey discovered that almost all of respondents (67%) rely primarily on anecdotal outcomes. They reported that they both don’t have any formal manner of monitoring worth and ROI, or they’re within the early levels of planning round ROI.

Alternatively, 33% of information leaders report that they observe their staff’s ROI in some method. 23% of all respondents mentioned that they observe some operational KPIs (e.g. variety of fulfilled requests, developer hours, or time to ticket decision).

In the meantime, 10% mentioned that they’ve each quantitative and qualitative metrics for fulfillment, linked to enterprise outcomes and communicated clearly to a number of stakeholders. I’d actually like to fulfill these 10% of leaders and study from their instance!

We had a blast speaking to information leaders on the Gartner Summit and studying about what they’re enthusiastic about for 2023. It’s clear that information is up for an fascinating 12 months stuffed with influence, innovation, and progress!

We simply revealed The Way forward for the Fashionable Knowledge Stack in 2023. Try the insights that In the direction of Knowledge Science featured of their high 3 reads of final 12 months. Obtain the report right here.

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