Integrating data is getting harder, but also more important

GEEKS ARE not known for being poets. But sometimes even they have a way with words, for example when trying to describe the main challenge of dealing with data. It is the search, they say, for “a single version of the truth”.

This also nicely describes what has been the goal of corporate information technology since it emerged 60 years ago. And the adage encapsulates the main tension for businesses in the data economy: finding digital truth—that is, identifying and combining data that accurately represent reality—is becoming more difficult and more important. More difficult because data and their sources are multiplying. And more important because firms need to get their data house in order to benefit from AI, which they must to stay competitive. AI boosts revenues and profits, according to a recent survey by McKinsey, a consultancy (see chart).