Data Governance

Australian businesses expecting the hassles of the COVID-19 pandemic to vanish in 2021 are in for a rude shock, according to business analyst firm IBRS, which as also released a new report on the future of the IT space. The firm's "Future of Work" expert, and IBRS advisor, Dr. Joseph Sweeney said improvements in IT departments were required because customer organisations will remain threatened by sporadic coronavirus incidents for some time yet.

The IBRS report, titled Trends for 2021-2026: No new normal and preparing for the fourth-wave of ICT, outlines misconceptions businesses have regarding the timeline of the pandemic and that a new, fourth-wave of ICT architecture is emerging in response to the challenges that will linger after the vaccine rollout.

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Conclusion:

Thinking that the pandemic will soon be past and some form of new normal will emerge, be it working from home or office work, or a hybrid mix - is a misconception. Even with a vaccine, the pandemic will continue in isolated, difficult to predict pockets, and cause sporadic rapid changes to work practices for the foreseeable future. Organisations will need to be able to quickly flip-flop work environments rapidly, and work processes - and thus technologies - must evolve to meet the challenges of the 'age of uncertainty'. A fourth wave of ICT architecture is emerging, with a focus on information over architecture, low-code everything and powered by algorithms.

Find attached at the bottom of the article a free downloadable PDF copy of the trends for 2021-2026 executive presentation deck.

Conclusion:

Too often, information communications technology (ICT) and business analytics groups focus on business intelligence and analytics architectures and do not explore the organisational behaviours that are required to take full advantage of such solutions. There is a growing recognition that data literacy (a subset of digital workforce maturity1) is just as important, if not more important, than the solutions being deployed. This is especially true for organisations embracing self-service analytics2.

The trend is to give self-service analytics platforms to management that are making critical business decisions. However, this trend also requires managers to be trained in not just the tools and platforms, but in understanding how to ask meaningful questions, select appropriate data (avoiding bias and cherry-picking), and how to apply the principles of scientific thinking to analysis.

Conclusion: Regardless of its digital strategy, many organisations have not been positioned to properly leverage the digital and data assets that are available to them. A Chief Data Officer (CDO) role can improve this situation by advancing an organisation’s data portfolio, curating and making appropriate data visible and actionable.

The CDO position is appropriate for all larger organisations, and small-to-large organisations focused on data-driven decision-making and innovation. These organisations benefit from a point person overseeing data management, data quality, and data strategy. CDOs are also responsible for developing a culture that supports data analytics and business intelligence, and the process of drawing valuable insights from data. In summary, they are responsible for improving data literacy within the organisation.