How are real businesses using Data as a Product, and what are their biggest challenges to implementing a data strategy?
The team here at Pathfinder Product wanted answers.
So we partnered with Women in Analytics (WIA) and the DataConnect Conference to survey more than 170 business leaders and data experts.
The result is a first-of-its-kind study – “The State of Data as a Product in the Real World” – that is now available to the public.
“With this study, we wanted to create something that would be practically applicable to help solve some of these big hairy problems in the data space,” said Jen Tedrow, the report’s co-author and executive director at Pathfinder Product.
“It is exactly the kind of report I wished I’d had when I first started working in data management more than a decade ago.”
What’s inside the DaaP study
In The State of Data as a Product in the Real World, we examined how companies make the most of their data, including:
- How to define Data as a Product
- Data as a Product fundamentals
- Strategy challenges and issues with data
- Perceived success and impact of DaaP
The report also includes a breakdown of insights and key takeaways for each role: data stakeholders, enterprise leaders, SMB leaders, data team members and data strategy decision-makers.
“We wanted to give people the ability to see it from other perspectives as well, then give each group actionable insights to start closing the gap,” Tedrow said.
Select highlights about DaaP today
The comprehensive study is packed with insights from data experts across health, technology, banking and finance, as well as other industries.
Select highlights include:
- An overwhelming majority (81 percent) reported that treating data as a valuable, usable asset had a positive impact on their organization.
- The Top 3 use cases for data were to inform strategic decision making, to improve operational efficiency and to enhance customer service.
- The bottom use cases for data, according to the study: machine learning (ML), artificial intelligence (AI) and data monetization.
- The Top 3 challenges reported when implementing a strategy to treat data as a valuable, usable asset: integrating data products into existing workflows and systems, ensuring data quality and reliability, and aligning data products with business value and goals.
Download “The State of Data as a Product in the Real World” now.
Schedule a free consultation if you’d like to learn how we can support your Data as a Product journey.