Data Portfolio Management Challenges

Application-related challenges:

·???????? Application spread and redundancy:?Over time, organizations can accumulate numerous data applications, some redundant or outdated. Identifying and managing these effectively can be difficult and resource-intensive.

·???????? Technology evolution and modernization:?Keeping up with evolving technologies and ensuring your applications remain modern and secure requires continuous assessments, upgrades, and potential migrations.

·???????? Application ownership and accountability:?Clear ownership and accountability for each application, including data governance and maintenance, are crucial for effective management.

Process and organizational challenges:

·???????? Lack of centralized management:?Scattered ownership and fragmented processes across different teams can make it difficult to have a complete view and to enforce consistent practices.

·???????? Inadequate tools and resources:?Implementing effective data application portfolio management often requires specialized tools and dedicated resources, which may not be readily available.

·???????? Limited change management:?Successfully implementing changes to data applications requires effective communication, training, and support for users, which can be challenging to manage.

Data-related challenges:

·???????? Data visibility and accuracy:?Having a complete and accurate understanding of all your data applications, their purpose, function, and dependencies is crucial. However, data silos, inconsistent naming conventions, and outdated information can impede visibility and make accurate assessments difficult.

·???????? Data quality and governance:?Ensuring consistent data quality across your applications is vital for reliable analyses and insights. Lack of data governance policies and practices can lead to inconsistencies, errors, and unreliable results.

·???????? Data integration and sharing:?Integrating data from diverse applications and enabling secure sharing with authorized users can be challenging due to varying formats, security protocols, and ownership concerns.

Other important challenges:

·???????? Security and compliance:?Ensuring data security and compliance with regulations across all applications can be complex and require ongoing monitoring and changes.

·???????? Business requirement alignment:?Aligning data applications with business needs and strategic goals is crucial for maximizing their value, which requires clear communication and collaboration between IT and business units.

By understanding these challenges and working with appropriate solutions, organizations can ensure their data application portfolio is well-managed, efficient, and delivers valuable insights and enable decision-making.