COMPANIES CREATING DIGITAL LANDFILLS OF CORPORATE DATA
A survey of global executives has revealed that despite two-thirds of business leaders using data daily, 78% said they struggle to use it effectively. Poor health management is leading sales and marketing teams to disregard data as unreliable in corporate decision-making.
Data integration and data integrity company, Talend, conducted the survey to look at the challenges business face in becoming data-driven organisations.
The research highlights the difference between being a data-saturated company and a data-driven organisation. Companies have more access to data than ever before but it can be difficult to make sense of the figures. Only 50% of executives surveyed said they confidently deliver the basics of timely, accessible, complete and accurate data.
“Our relationship with data is unhealthy. Only 40% of executives always trust the data they work with, and more than a third of executives are still making decisions based on gut instincts,” said Christal Bemont, CEO, Talend.
Data management companies are offering problem-solving solutions for these organisations, but with a focus on the mechanics of moving and storing data.
Sales and marketing executives use data less than other departments with only 47% using it every day, compared to 67% across other departments. Nearly half of sales and marketing executives make majority of their decisions without using data at all.
Sales and marketing executives are also more resistant to using data, with 70% saying they are not willing to use it in future decision making. This is due to a lack of awareness and understanding of how data can be used effectively. Only a third of sales and marketing respondents knew where company data is located, while 48% said there are no documented standards to access data quality.
Data health is fundamental in helping organisations understand and communicate data in a reliable way. Talend customers reported that a focus on data health had a positive impact on business, opening up scalable analytics to support decision-making.
“Data management, which largely focuses on moving and storing data, doesn’t take into account the overall health of data. Therefore, in trying to manage data, companies are in fact creating digital landfills of corporate information. This has to change. Our vision of data health is the future because it recognizes fundamental standards for quality and reliability are critical for corporate survival,” says Bemount.
Talend surveyed 529 global executives from medium and large companies making over $10m in annual revenue. Read the full report here.
