Talend has launched outcomes from its second annual Information Well being Barometer international survey that discovered 97% of respondents are going through challenges in utilizing information to its full potential.
Talend says an organization’s total information well being describes not simply the present state of its information, but in addition how properly it helps focused enterprise outcomes. Whereas 99% of corporations acknowledge information as important for his or her success, almost half say utilizing information to drive enterprise impression shouldn’t be straightforward.
The corporate cites a disconnect between information and resolution making, and key findings uncovered by the survey embody how information administration is worsening by the yr, there’s a information literacy abilities hole, information entry points persist, and information high quality and belief considerations stay.
In comparison with the primary Information Well being Barometer of 2021, corporations are ranking their information administration round 10 factors decrease this yr. Talend lists the 5 markers of wholesome information as timeliness, accuracy, consistency, accessibility, and completeness. Timeliness and accessibility noticed the biggest drops at –29 factors and –15 factors, respectively, and 57% of respondents admitted to battling information entry as a consequence of distant work.
Supply: Talend
The abilities hole can also be a barrier, as one in three of these surveyed disclosed having reservations about how properly staff perceive the information they use of their work. Solely 26% of complete respondents strongly agreed their total group understands firm information. Information consultants have been probably the most important of company-wide information literacy, with 15% both considerably or strongly disagreeing that each one staff perceive the information.
Pace and adaptability of information entry is a priority for the 41% who say they don’t have quick or full entry to the information they want. Talend cites this as troubling as a result of growing income and optimizing prices have been ranked as the highest priorities for information use, growing by 10 factors and 13 factors respectively from final yr. For 57% of these surveyed, information infrastructure has not saved up with distant work, as they reported distant work has had a unfavourable impression on information agility.
Lastly, information high quality and belief proceed to be sore factors within the quest for utilizing information successfully. Over one-third of respondents reported that trusting the information they depend upon for resolution making is a serious problem, and almost half indicated that making certain information high quality is their greatest drawback. In accordance with Gartner, poor information high quality prices organizations a median of $12.9 million per yr. Whereas 82% of complete respondents in Talend’s survey mentioned they belief the information they use, solely 75% of these surveyed from the enterprise facet of organizations agree, leaving 1 / 4 of these making enterprise choices distrustful of the information.
These outcomes present 57% of corporations report that distant working has had a unfavourable impression on their information agility. Supply: Talend
Whereas the information well being barometer highlights the problems that hold companies from utilizing information most successfully, it additionally reveals the methods corporations are utilizing to resolve these issues. Information literacy packages might help with the talents hole, and 65% mentioned there’s a information literacy program in place at their firm. For almost half, or 48%, these packages are led by the CDO or chief analytics officer. Moreover, 80% of respondents reported their organizations have commonplace metrics or KPIs in place, similar to recency, completion, and relevance, to evaluate information high quality. In accordance with the outcomes, know-how corporations and people within the monetary companies and insurance coverage sectors are main the pack in establishing commonplace information metrics, whereas healthcare, manufacturing, retail, and schooling are left to catch up.
Talend believes wholesome information practices are the important thing to getting probably the most from a company’s information, particularly in turbulent financial instances.
“Within the coming years, companies are solely going to grow to be extra reliant on information to navigate the challenges of a turbulent financial system and an more and more aggressive market,” mentioned Christal Bemont, CEO at Talend. “By placing a concentrate on dependable information — supported by a powerful information tradition with a concentrate on agility and belief — companies can’t solely climate any storm however come out forward. Having a wholesome information surroundings in place provides organizations the ability to run lean in powerful instances with out sacrificing their long-term technique.”
Take a look at the report right here.
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