As more and more businesses enter the arena of AI-driven innovation, they must do so with a firm understanding of the pillars of a strong AI strategy. Chief among these pillars is an equally strong state of org-wide data readiness, which will supply AI models and tools with the clean, quality data they need to deliver meaningful returns on investment.

Unfortunately, patterns in Hakkoda’s 2024 State of Data report show that many organizations are not yet ready to seriously consider investing in AI. To get there, they will need to do three things: align internal stakeholders on the success of their data strategies and infrastructure, empower their teams with the skills and expertise they need to support AI tooling in-house or with the help of a trusted data partner and operationalize robust data quality and governance frameworks to provide sturdy scaffolding for innovation.

A failure to accurately assess data readiness could mean the difference between a powerful new solution and a failed AI experiment. 

Bridging the dissonance gap with data governance and enablement

The State of Data report points to three data readiness blockers in particular: quality, governance and automation. Data quality and governance is a major challenge for 46% of organizations. Applying AI to automate decision-making, meanwhile, posed a major challenge for 45% of organizations. Only the smallest sliver, 1% of organizations, reported having at least four data quality measures automated, while only 24% reported having a minimum of three.

Fortunately for organizations looking to shore up their overall data readiness with quality, governance and automation initiatives — data consultancy services like Hakkoda are equipped with exactly the tooling and expertise they need. Our data teams have worked closely with organizations in highly regulated industries to design, integrate and optimize quality and governance frameworks that open new paths to innovation.

Take, for example, the case of a large regional bank struggling with limited adoption of its data governance program while integrating data from three large data sources into a Snowflake Data Vault. In just five months, Hakkoda was able to successfully implement an end-to-end framework for data governance and Master Data Management (MDM) that cut implementation efforts by 72%. We also enabled internal data teams with a comprehensive roadmap for the integration of future data sources in the form of a Data Governance Playbook. This resource would ensure that the large regional bank had a strong, flexible and scalable foundation for continued innovation — including AI integration.

Supporting organizations build a modern data stack

Industry-leading organizations and their executives know they need to modernize their data stack in 2024. They also know they’ll need to enlist outside help to do so. Nearly every organization surveyed (94%) said they will need to modernize their data stack to achieve GenAI. Among the most data-mature organizations surveyed, two-thirds said they will need to modernize a “great” deal.

Hakkoda is a data consulting company focused on helping large enterprises in highly-regulated industries deliver data-driven innovation while supplying the talent and managed services they need to transform their cloud data architecture. 

We use best-in-class modern data tools like Fivetran to help our clients automatically move data and establish data governance practices faster than traditional methods — all while cutting down on the time spent on maintenance, cleansing, and more. The Fivetran platform makes it easy for stakeholders across leadership levels to track and assess how data is used across their organizations, providing full visibility into how, when and by whom their data is used. 

With the majority of businesses in every industry acknowledging the need for external support in their data modernization initiatives, companies looking to quickly achieve AI readiness have reason to look beyond their existing teams and technologies to future-proof their data strategies. Tried and true data partners like Hakkoda and Fivetran combine deep technical expertise, an empathetic understanding of your key business objectives and best-in-breed technology to architect pointed solutions — wherever you fall in your journey to data maturity. 

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