Regulated companies to have better data strategies

A recent study by S&P Global Market Intelligence and Immuta revealed that companies that follow data privacy and security regulations are leading the way in data strategies.

Indeed, it was reported that regulated organizations have to deal with fewer challenges regarding data access and use as well as have a better-dedicated data engineering team and analytics. They are also more likely to be cloud-first or cloud-forward compared to most non-regulated industries.

Moreover, it was found out that companies in banking, retail, and healthcare have often a dedicated data engineering team, thus, they are more likely to invest resources in the data supply side.

The study showed that the number of data consumers in organizations is increasing steadily. Indeed, 73% of data experts believe that even more people and machines will need access to data over the next 24 months. Besides, 90% declared that data quality and trust would become more important than data quantity in the coming years.

It was also found out that now 60% of organizations have a chief data officer, and it is likely that this number will increase over time.