Talend has published the 2022 Data Health Barometer. The report is based on a survey of 900 independent data experts and leaders. The report focuses on the current disconnect between data and decision-making. What is disturbing in the report is that data health is falling across all five markers: Timeliness, accuracy, consistency, accessibility, and completeness. It had an overall drop of 10 points of the barometer compared to last year. Is this due to a better understanding of data within organisations, or is the situation worsening as the volume of data increases?
Companies recognize the value of data, with 99% saying data is crucial to success. But challenges remain for 97%, and nearly half of the respondents find it difficult to translate data to business impact.
There are deep problems with data usage
The report highlights some serious issues seen across the surveyed organisations. A third of organisations are unsure if employees understand the data. In response to this, 65% have a data literacy program. Hopefully, next year’s barometer will be positive. 46% of respondents do not have the speed and flexibility they need to satisfy all the business demands. 41% say they don’t have access to the right data.
The report comes in a week where at Dreamforce, Salesforce announced Genie, a real-time CDP for Salesforce 360, which helps to address this issue. One of the interesting findings is that remote work is having a negative impact on data agility in 57% of organisations. It may mean that more companies return to a hybrid model.
This results in a lack of trust in data for 36% of the respondents, and only 26% strongly agree that they are confident with data-driven decisions. This lack of trust is costing
Christal Bemont, CEO at Talend, commented: “In the coming years, businesses are only going to become more reliant on data to navigate the challenges of a turbulent economy and an increasingly competitive marketplace.
“By putting a focus on reliable data — supported by a strong data culture with a focus on agility and trust — businesses can not only weather any storm, but come out ahead. Having a healthy data environment in place gives organizations the power to run lean in tough times without sacrificing their long-term strategy.”
Enterprise Times: What does this mean
There is a growing realisation that data is important. Organisations realise that data-driven decision-making can increase revenue and optimise costs. However, there are challenges. Organisations need a greater understanding of their data to leverage it. This increases the importance of a complete data strategy, with education, technology and consulting playing a part. Tableau’s end-to-end data management within its Data Fabric is one such technology. Coupled with an extensive partner network, organisations can take a big step in building trust in their data.
One company that leverage the Talend Data Fabric is Covanta. It is a leader in sustainable materials management. It offers solutions that keep trash out of landfills, reduce greenhouse gases and generate clean energy. The Information Technology team at Covanta have improved data quality which has helped the decision-making process. Charles Link, Chief Data Officer at Covanta, notes: “There is now a shared understanding across operations and strategy, business and IT, of what our data means. Now we trust the quality of the data we use to operate our facilities.”
