Trends Report

Adopt Forrester’s Data Product Taxonomy To Establish Data Value

June 21st, 2024
With contributors:
Sudha Maheshwari , Gabrielle Raymond , Jen Barton

Summary

Organizations continue to accumulate data technical debt due to a decade of multiple platform migrations, slow adoption of new capabilities, changing analytic needs, and continued disconnects between digital initiatives and data investment. Treating data as a product to address business needs closes that financial gap by building trust between IT and business stakeholders and data consumers. Build a data product taxonomy to create an attribution framework and a democratization capability to address data ownership, governance, faster time to value, and monetization. And use a data product monetization framework to drive the business outcomes your enterprise expects.

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