Amid fears and uncertainties in the digital age, the value of trust in a business cannot be overstated.
Today, that trust relates not only to a company’s brand, products, services and people — but also to the data and analytics (D&A) that are powering its technology.
However, KPMG International research shows that companies are struggling to build this trust.
In the recent Guardians of trust study, KPMG International commissioned Forrester Consulting to survey almost 2,200 global information technology (IT) and business decision makers involved in strategy for data initiatives. The survey found that just 35 percent of them have a high level of trust in their own organization’s analytics.
At a time when machines are working in parallel with people, this study points to a clear need for proactive governance of analytics in order to build trust.
But who should be responsible for trusted analytics? And what does good governance look like? As organizations undergo digital transformation, with artificial intelligence (AI) sweeping through almost every industry, is someone taking responsibility for the quality, effectiveness, integrity and resilience of D&A?
In the following report, we identify some emerging principles as well as some worrying opinions. The report summarizes the research findings, discussions with industry leaders who are making strides in building trust, and the recommendations and observations on the governance of analytics.