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October 15, 2018 Press Release
Company recommends adoption of Gartner’s “Infonomics model” through measuring, managing, and monetizing data
NEW YORK, October 15, 2018 — Io-Tahoe, a pioneer in AI-driven data discovery and catalog products today announced that it is offering a complimentary copy of Gartner’s recent report on “Why Midsize Enterprises Need a Chief Data Officer1.”
“We feel that Gartner’s research presents a clear road map for companies that possess huge amounts of data and need to gain control of it to benefit their bottom line,” said Oksana Sokolovsky, Io-Tahoe’s chief executive officer. “From our view, Io-Tahoe delivers this capability and simply enables firms to reach their data management, data governance and regulatory compliance goals.”
The report, authored by Gartner analyst Alan Duncan, suggests that “As legal and regulatory, HR, finance and line-of-business executives increasingly understand the need to manage and protect organizational assets, including data, there needs to be additional focus on this requirement, and more expertise and experience in this area.” Duncan writes that “Organizations need to manage their data just like any other corporate asset and factor its value into their ROI calculations.”
Duncan notes Gartner’s “Infonomics model2”, which provides a framework that midsize enterprises (MSEs) need to value, manage and monetize information. Furthermore, the report recommends that a modern data catalog should be used to “map information supply chains and curate the inventory of information assets. Facilitate, broker, mediate and champion the business value of data.” He also writes that augmented analytics and smart data discovery tools should be used to enhance the data catalog, making “data access and consumption more agile, flexible and relevant for both operational processes and analytics.” Additionally, the report recommends that “Build on the data catalog by tracking analytic outcomes and business benefits. Formulate narratives that encourage stakeholders to identify new opportunities to exploit data and participate in a data-driven culture.”
“It is our belief that companies worldwide that have deployed such technology are already ahead of the Gartner curve,” Sokolovsky added. “Io-Tahoe is precisely that kind of advanced technology. By leveraging artificial intelligence, Io-Tahoe helps companies build and maintain a data catalog that can automatically discover what data resides where within the organization, and discover relationships within that information, both implied and previously unknown. We also believe that it even detects previously unknown relationships, including those from so-called ‘dark data,’” which Gartner defines as “the information assets organizations collect, process and store during regular business activities, but generally fail to use for other purposes.3”
Io-Tahoe’s automated data catalog enables data and business professionals to easily create, maintain and search a business glossary of data sources and critical data relationships identified through Io-Tahoe’s relationship discovery. Population of the data catalog is automated by using artificial intelligence and leveraging the discovery functionality and natural language analysis to automatically tag data. This automation facilitates smarter crowd sourcing allowing data owners, stewards and subject matter experts to define and govern multiple data rules.
The Gartner report, provided by Io-Tahoe, is available for a limited time. A complimentary copy can be accessed here.
1 Gartner, “Why Midsize Enterprises Need a Chief Data Officer,” Alan D. Duncan, 22 June 2018. G00345571.
2 Gartner defines “infonomics” as “the emerging discipline of managing and accounting for information with the same or similar rigor and formality as is applied to other traditional assets (such as financial, physical, intangible or human assets). Infonomics posits that information meets all the criteria that formal company assets meet. Although infonomics is not yet recognized by generally accepted accounting practices, it is increasingly incumbent on organizations to behave as if it were, in order to optimize information’s ability to generate business value.”
3 Gartner IT Glossary, “Dark Data,” 2018. https://www.gartner.com/it-glossary/dark-data.
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About Io-TahoeIo-Tahoe (www.io-tahoe.com) is an enterprise AI-driven data discovery and catalog product that enables enterprises to accelerate to next-generation data management practices, radically improving data governance and regulatory compliance while driving significant advancements in business analytics and technological transformation. Io-Tahoe’s discovery goes beyond traditional metadata, leveraging ML and AI to look at the data itself, automatically discovering critical, implied and often unknown relationships across an inherently heterogeneous and complex enterprise landscape.
Io-Tahoe has been custom-built by a team with a deep understanding of data challenges, giving us first-hand insight and appreciation into our customers’ diverse and complex data needs. Io-Tahoe is particularly valuable to businesses with large numbers of customers and diverse data sets, such as those in the financial services, utilities, retail, transportation, insurance, healthcare and manufacturing industries.