Existing data silos are commonly viewed as a technology problem due to architecture, software, and hardware problems; however this problem cannot be solved by technology alone. Business engagement and support in conjunction with an enterprise approach for data availability, data sharing, and data usage are required to address the proliferation of data silos within an organization.
Data silos are created out of necessity to solve specific business problems in absence of formal enterprise architecture, data handling policies, data governance and other data-centric oversight challenges within an organization.
Customer, marketing, compliance, risk, finance and other corporate functions generate volumes of overlapping data, often with minimal consideration or understanding of tomorrow’s data volume growth.
Business’ that understand the opportunities within concepts such as Internet of Things, mobile, location, context, as well as the introduction of other unstructured open data sets, have an ability to create a competitive advantage within their target market.
These businesses are building out the office of the Chief Data Officer (CDO) to enable an effective business technology response.