Top 5 takeaways from FWRD 2024

Thank you to all the data leaders, practitioners, and innovators who joined us for Ataccama FWRD 2024! We hope the latest breakthroughs in AI-powered data management inspire you. We were happy to explore how these advancements are driving real business value for enterprises across all sectors.

From insightful keynotes to engaging fireside chats, FWRD was a whirlwind of knowledge sharing and networking. But if you missed it, or just want some insights, here are the top 5 takeaways you can use to lead your team forward.

1. CDO becoming a vital role and tips for success

The Chief Data Officer (CDO) role has grown significantly in the last decade, skyrocketing from 12% in 2012 to 83% in 2024. Randy Bean covered this statistic in his session about the future of the CDO/CDAO role in an organization.

He then went on to discuss the challenging nature of the position. With an average tenure of just 18-24 months and only 51% of CDOs reporting they feel successful and established in their role, it's clear that navigating the complexities of data leadership isn't easy.

Ataccama CEO Mike McKee highlighted three key tips for CDOs to become successful:

• Strong data culture. Foster a strong data culture where everyone understands the value of data and actively participates in data quality initiatives.
• Data products over data projects. Create valuable, reusable data assets (like a customer 360 view) that empower different teams to achieve business goals rather than just completing one-off data projects with limited impact.
• Connect data initiatives to business goals. Demonstrate the value of the CDO role and secure buy-in from stakeholders across the organization.

2. The ONE AI agent is here — and it's the future!

At FWRD 2024, Ataccama unveiled a groundbreaking AI agent poised to transform data management. We've come a long way from the days of purely manual data management, evolving through the eras of machine learning with automated classification and anomaly detection.

Now, many data management software companies offer AI copilots that assist with tasks like generating SQL from text. But what if we could take that a step further? Enter the age of the AI agent.

We are leading this new wave of AI innovation by introducing the data management purpose-built ONE AI Agent. It is revolutionizing the way we work with data by automating end-to-end complex tasks such as:

• Uploading data tables with business requirements to create DQ rules in bulk
• Mapping newly created DQ rules to relevant data assets
• Ensuring data quality in specific datasets with technical knowledge
• And much more!

This technology democratizes data management, making it accessible to everyone and freeing up data professionals to focus on strategic initiatives. Imagine a world where day-long data tasks are completed in 5 minutes — while you make a cup of coffee — that's the power of the ONE AI agent. The future of data is intelligent, autonomous, and incredibly efficient, and it's here today.

3. The importance of data trust

For years, companies have invested heavily in data initiatives, modernizing their data infrastructure with cloud data warehouses and lakes and implementing governance frameworks. Yet, many still struggle to connect these efforts to tangible business outcomes and truly unlock the value of their data supply chains. Why? Because a crucial link has been missing: data trust.

Jay Limburn covered this concept in his session on product innovation, emphasizing that data trust is the bedrock upon which successful data-driven initiatives are built. It's the confidence that your data is accurate, reliable, and fit for its intended purpose. Without it, even the most sophisticated data products will fail to deliver meaningful insights or drive informed decision-making.

To establish data trust, organizations need integrated technologies that provide a comprehensive understanding of data quality:

• Data quality. Run a comprehensive AI-powered data quality program, allowing you to identify, monitor, and remediate data quality issues to improve the trust of your data.
• Data observability. Continuously maintain a trust-ready posture by detecting new quality issues as they occur and remediating them before they impact your data products.
• Data lineage. Understand where your data is coming from and which data products, reports, and models they feed to determine impact analysis and ensure that trust is maintained throughout the supply chain as your data evolves.
• Master data management. Ensure that your data products are not only trusted but contain the highest possible quality entities to ensure the best possible outputs from your data products

Ensuring data is trustworthy empowers business users with the information they need to make confident decisions and drive positive outcomes. All of these capabilities are available in the Ataccama ONE platform.

4. How to quantify the value of data initiatives

One clear message emerged from FWRD 2024: proving the value of data initiatives is no longer optional. It's essential for any data leader who wants to secure buy-in, justify investments, and demonstrate the impact of their work.

But how do you actually quantify that value? In Lee Edney's (Ataccama) session "Quantifying the value of data initiatives," he explained how to do it the right way. Here are some key takeaways:

• Collaboration is key. Engage the business early and often. The more you collaborate, the easier it will be to build a strong business case and track the ongoing impact of your data initiatives.
• Measure holistically. Don't just rely on data metrics. Track value across multiple dimensions, including business KPIs and financial metrics, to paint a complete picture of your success.
• Value is ongoing. Don't stop tracking after implementation! Establish clear success metrics, maintain open communication with business stakeholders, and explore ways to automate value measurement as part of your operating model.

Need help measuring the value of your data initiatives? Ataccama experts are here to support you. Reach out to learn how we can help you demonstrate the ROI of your data investments.

5. People first: Why data culture is your foundation for success

Prithwiraj Thakur (Deloitte) and Rebecca Lane’s (Ataccama) session discussed building a people-first approach to data governance and success. It drove home a critical point: successful data governance isn't just about technology but the people in your organization. Prithwiraj emphasized that data governance initiatives often fail because they prioritize data over the needs and behaviors of those who use it.

To truly unlock the value of your data, you need to foster a data-driven culture where everyone understands the importance of data quality, trusts the data they use, and feels empowered to contribute. This involves clear communication, practical training, and strong leadership support.

Building a "people-first" approach to data governance requires:

• Clearly defined roles and responsibilities: Everyone should understand their role in ensuring data quality.
• Effective training and education: Equip your team with the knowledge and skills they need to work with data effectively.
• Open communication and collaboration: Foster a culture where people can easily share information and work together on data initiatives.
• Strong leadership support: Secure buy-in from leaders across the organization to champion data governance efforts.

By prioritizing your people and building a strong data culture, you create a foundation for successful data governance and unlock the true potential of your data.

Thank you for attending FWRD!

These are just a few of the key takeaways from Ataccama FWRD 2024. To learn more about how Ataccama's AI-powered data quality solutions can help you build trust in your data and drive business value, visit our platform page. And stay tuned for a full recap of FWRD, coming next week!