Most executives know that data is important and that it can help them make better decisions and drive better business outcomes. However, not everyone knows how to put their data to use.
This is according to a new report from data integration and integrity firm Talend, which claims that, despite the importance of data, 78 percent of leaders face challenges when they use it, and more than a third simply aren’t using it to make decisions.
Polling 529 global executives, Talend found that there is a difference between being data-driven and data-saturated. Organizations have never had this much data to work with, but that doesn’t mean a great deal if they can’t make much of it.
Talend claims that data management companies, even though they’ve been promising solutions for years, only focus on the mechanics of data like moving or storing it, basically ignoring the fact that business leaders need help using it.
“Our relationship with data is unhealthy,” explained Christal Bemont, Talend CEO. “Only 40 percent of executives always trust the data they work with, and more than a third of executives are still making decisions based on gut instincts.”
“The reality of data is falling well short of the industry’s vision. 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.”