()Corporate data is one of the most important assets an organization has, but it’s also one of the most difficult to understand and measure. Even though decision makers now have more data at their disposal, they still struggle to make sense of it. Research has revealed the differences between data-driven executives and data-saturated executives.

Talend’s recently published 2021 Data Health SurveyOne clearly shows that business leaders recognize the importance of data. Two-thirds of them report that they use data every day. 78% say they face difficulties using their data. 36% report that their decisions are not made based on data. Although companies are well aware that data is essential for the future, many struggle to use it despite the years of investments in modern infrastructure.

Every organization must be a data company in order to survive in today’s economy. It is not an easy task. Only half of executives rate their company’s ability deliver the basics: accurate, timely, complete and accessible data.

These problems have been solved by data management companies for many years. However, their solutions focus only on the technical aspects of data. If you focus on just moving and storing data, some of the fundamental components of data administration are lost. Who has it? What accuracy is it? Leaders need to be data-driven in order for them to succeed.

“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,”Christal Bemont, CEO of Talend. “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 consider the overall health of data. Therefore, in trying to manage data, companies are in fact creating digital landfills of corporate information. This must change. Our vision of data health is the future because it recognizes fundamental standards for quality and reliability are critical for corporate survival.”

Talend views data health as a system that includes preventative measures, effective treatments and a supportive culture for active management of corporate information. Data health will provide organizations with monitoring and reporting capabilities that help them understand and communicate in a quantifiable manner the reliability, risk and return of this critical business asset.

Customers of the data integrity and integration company report that focusing on data quality results in positive business outcomes. “Without access to quality data on time, we could have never achieved the scale of analytics we are currently in,”Ranadip DUTTA, Lenovo’s solution architect manager, said the following: “We now have flexibility along with scalability.”

Find out more about the Talend Data Health SurveyData health click here.

 

Talend conducted a survey through Qualtrics, of 529 global executive directors — with titles that range from director to the C suite — at medium and large companies earning more than $10,000,000 annually. The purpose was to assess their ability make data-driven decision making.