target audience: TECH BUYER Publication date: May 2024 - Document type: IDC PlanScape - Doc Document number: # US51712224
IDC PlanScape: Data as a Product
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Abstract
This IDC PlanScape on data as a product emphasizes the growing complexity of data landscapes and the necessity for organizations to effectively utilize data assets for improved business outcomes. It advocates for treating data as a product to enhance accessibility, management, and value extraction, highlighting benefits such as increased innovation, new revenue streams, and support for AI initiatives. The document also outlines the roles of key stakeholders in data productization and offers guidance on implementing a data-as-a-product approach to drive organizational success.
"Data as a product transforms complexity into opportunity, driving innovation, governance, and new revenue streams in the digital economy," says Stewart Bond, vice president of Data Intelligence and Integration Software research at IDC. "The concept of data products is gaining traction among organizations looking to better understand the value and utility of data and enabling connections between data producers and consumers within an organization, and we have seen the market respond with data sharing platforms, also known as internal data marketplaces."