A few factors are coming together to force CIOs to keep concentrating on how to best collect, safeguard, and share data in their organizations. The EU’s General Data Protection Regulation (GDPR) is set to take effect on May 25 of this year and has many companies scrambling to comply with the new rules meant to harmonize and strengthen data privacy across Europe. GDPR is near, and reflects a bigger trend: Governments, after largely taking a hands off approach for years, are looking at regulating technology more extensively as concerns about its impact on society grow.
AI and natural language processing will also play a role in both the care and use of data. AI, coupled with location-aware IoT devices, have the potential to transform security practices by adding a much-needed layer of context to things like employee logins.
And, although data promises to drive more decisions for both finance and HR leaders, those functions will be looking to the CIO for recommendations—and not necessarily for standalone analytics programs, says Pete Schlampp, vice president of Workday analytics, but for everyday business tools that can deliver data-driven insights.
“Self-service analytics is taking a front seat as more organizations realize the power of putting data in the hands of business users to make better and smarter decisions,” says Schlampp. “In 2018, we’ll see more business users become data-driven as more self-service technologies are directly integrated into their business applications.”
Schlampp also predicts that in 2018, we’ll see more organizations leaning on technology platforms that provide a comprehensive view of their data for richer insights and greater business agility.
“Whether companies are seeking a single repository encompassing their people and financial information, or a system that can combine data from various sources with in-house data for advanced analytics, they will increasingly eliminate disparate technologies that contribute to siloed data,” says Schlampp.