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The democratization journey has begun as more consumer firms are moving to more “Self Sufficient Supplier Product Info” inventories!
As consumer firms struggle with too much data, many use inventory systems to control the contracts and licenses they have in place. That’s a good start, but consumers are discovering that there is the need for more insight and transparency. They need to know who is using the data, and who is permitted to use it. For data products, they must understand the definition/purpose of the data and the main terms and conditions for its use.
This is an arduous task without the metadata available in a data catalogue/library.
Many firms are trying to reduce costs, maximize value of existing contracts, stay data compliant and make data available as easily to their internal business where needed, without duplicating exact same data from multiple sources. Utopia would be an effective library, where users can easily see what is available, who can use it and where additional licensing would be required. Your old Blockbuster video store did the same for your movie entertainment, and it’s now been superseded and revolutionized by Disney+, Netflix, HBO etc.
If you are not on this journey yet, you may soon be! Interested to learn more? Don’t miss our expert panel explain why they have their sleeves rolled up on this mission, and hear their trials and tribulations.