Why data products?

Data products are reusable, complete packages containing the underlying data, tools, documentation and context that users need to understand, access and utilize data. When organizations want to meet specific objectives using their most critical data — whether it’s driving strategic decisions, improving operations or enhancing customer experience — data products offer an ideal way to achieve specific business goals:

Align data management efforts with business goals and AI-readiness
Data products ensure that data management supports business objectives and AI initiatives. They provide high-quality, compliant and relevant data, improving decision-making, AI model performance and business outcomes.Empower self-service access, data democratization and innovation
The IDC December 2022 Data Valuation Survey found that almost 44% of the 1,024 respondents cited that they don’t have access to the data they need to do their jobs. By making high-quality data available to various teams, data products break down departmental silos, promote a data-driven culture and support faster decision-making. Accessible data encourages creativity and innovation, allowing teams to develop new analytics, applications or services and respond quickly to market changes.

Improve productivity while reducing costs and duplication
Untimely data delivery was a major data pain point for 33% of executives surveyed in a recent MIT Technology Report. Well-defined data products provide stakeholders with accurate and timely information, enabling them to make informed decisions faster to improve business outcomes. Additionally, by providing reusable data assets, data products save time and resources by eliminating the need to recreate data assets for different uses, maximizing the return on data investments.Drive accountability and compliance
Domain ownership and structured frameworks for data products help ensure responsibility for data quality and security, which encourages responsible data management. Managed data products also help ensure that governance policies and regulations are followed, reducing the risk of non-compliance.