The advent of generative AI has elevated the value of data, where companies are now racing to harness its potential faster than their competitors. The companies with substantial data wealth are gaining a competitive advantage. Enterprises that possess high-quality data and attest to the trustworthiness of their data among stakeholders have doubled the return on investment (ROI) from their AI capabilities.

But it’s not so simple. The effectiveness and trustworthiness of analytics and AI is inherently tied to the quality, availability, and management of the underlying data and many organizations are still faced with fundamental data challenges. In fact, 53%1 of CEOs say that a lack of proprietary data will be a barrier to successful generative AI initiatives. Data is also exploding, both in volume and in variety. According to IDC, by 2025, stored data will grow 250% across on-prem and cloud storages.2 With growth comes complexity—multiple data applications and formats that make it harder for organizations to access, manage and effectively use all their data