Why is it Vital to Have a Data Catalog?
Within this blog post we will define what a catalog is, SAP’s vision for a catalog, what data-driven decision-making means, and the importance of having a catalog.
What is a catalog?
The heart of a catalog is the foundation of data intelligence, it is the collection of metadata to serve as an inventory of your organization’s data. A present-day catalog is for everyone – technical and non-technical users, with the capability to share and collaborate with each other. Catalogs help users discover and preview, analyze, understand the quality and trustworthiness, and govern the data. A catalog gives key stakeholders the ability to identify actionable insights, allowing them to formulate data-driven decision making with confidence.
SAP’s vision for a catalog
SAP’s vision is that a “Catalog is a comprehensive solution that collects and organizes data and metadata to enable business and technical users to make confident data-driven decisions. Catalog improves productivity and efficiency by building trust in enterprise metadata through consistent data quality and governance. SAP vision is to build a catalog rich with SAP business applications data and provide an open ecosystem to integrate with leading 3rd party catalog vendors to power data intelligence.”
What does data-driven decision-making mean?
A “data-driven” approach means you and your organization are using data to make informed and strategic decisions to drive business growth that aligns with your organization’s strategy. Making strategic decisions based off the organization’s data is truly realizing the full value of your data while removing any bias. Empowering all lines of business, such as, business analyst, data scientist, human resource manager, marketing managers, and so on to make smarter and more informed decisions every day based on the data.
Making data-driven decisions is important because it allows organizations to gain insights and predictions to reach their goals. Here are a few of the great benefits to making data-driven decisions:
- Improved productivity and efficiency
- Transparency; removing any predisposition and making confident decisions
- Aligning with and achieving your organization’s strategy and goals
- Becoming proactive; leveraging the data to identify new business opportunities and identifying risks and threats before they get out of hand
- Increase collaboration among teams; everyone working towards the common goal
Why it’s vital to have a catalog?
As mentioned above a catalog is the heart and foundation for your data intelligence and is for all users within an organization to unlock the full potential of enterprise data and to make data-driven decisions with confidence. Here are five benefits of why it is vital to have a catalog:
- Empower user to be data driven – with a unified view, easy access to all organizational data, and an understanding about the trustworthiness of the data allows users to spend their time analyzing and gaining insights to make decisions in line with the organization’s goals and strategies.
- Increase data literacy – every organization has approved, and standardized vocabulary terms and concepts used daily in communication. Business glossaries promotes proactive data governance with common understanding and agreement on business terms and classifications, as well as promoting better communication. Granting users, the power to read, work with, analyze, and communicate clearly and concisely.
- Improve data efficiency – easily, proficiently, and correctly locate the correct data set that will meet your needs. Saving you from spending excessive time trying to discover that correct data set. This is especially important when data is literally stored everywhere and in a variety of formats.
- Boost trust in your data – offering the ability to preview and profile data – to validate the completeness, accuracy, and quality of the data. Ultimately ensuring trust in the data and delivering intelligence through data-driven insight and innovation.
- Advance data compliance – governing data availability to ensure compliance with laws, regulations, and organizational policies around the data. Providing the ability to follow lineage and safeguard confidentiality and integrity around the data. Protect the data.
Data is an extremely valuable asset, that is, until it becomes a liability. To protect against the data becoming a liability, embody a data catalog. A catalog solution collects and inventories your data, giving you a holistic view of your data regardless of where it resides or what format the data is in. Catalogs provide meaningful insights about the data and permits you to make data-driven decisions from your trusted data. All while improving collaboration and communication within your organization. Catalogs are vital to your organization.
Be sure to join us on March 8, 2023 for our SAP Data Unleashed event, with Julia White, Chief Marketing and Solutions Officer and Executive Board Member, SAP and Juergen Mueller, Chief Technology Officer and Executive Board Member, SAP; Register today. This is your opportunity to be the first to hear about the latest SAP advancements – watch live demos, see new capabilities in action, and get a deep dive from customers on how they unleash the power of their business data across their data landscape.