NEWS: Business leaders unsatisfied with data 

28 March 2014

More than half of business decision makers (56 per cent) believe the data they receive is ‘not highly accurate’ and a further 22 per cent say it is only ‘fairly accurate’, according to a new survey by Bull Information Systems.
The research revealed two-thirds (66 per cent) of business leaders are not fully satisfied by their organisation’s responsiveness to their requests for data analytics. Dissatisfaction was highest among IT directors, with 84 per cent not completely satisfied with the service they receive.
Nearly four in 10 of those surveyed said that they or their departments make daily requests for this kind of material, and in total 59 per cent request reports at least once a week.
However, the study showed decision-makers see the inadequacy of the IT infrastructure as the biggest barrier preventing them from exploiting data residing within the organisation for business advantage. This was a particularly big issue among IT directors, with 44 per cent highlighting it, and HR directors where it was referenced by 24 per cent. The next biggest barrier was data being stored in disparate locations around the organisation, cited by 20 per cent.
The majority of brands are using data to advance core strategic goals with many looking to it as a means of gaining business advantage. While 28 per cent said they primarily analyse and manipulate the data available to them to reduce operational resources or time, 43 per cent said they did it for ‘other competitive advantage or operational benefit’.
Andrew Carr, CEO, Bull UK & Ireland, said: “Today’s decision-makers increasingly rely on the quality and timeliness of the data reports and analytics they receive from business to ensure they make the right strategic choices. If they don’t get the information they need when they need it, this will negatively impact the profitability and competitive edge of their organisations. So it’s worrying that many senior staff are not completely happy with the service they get.
“Moving forward, it is clear that putting in place flexible systems architectures with rigorous data management policies will be key in driving value for these organisations. IT suppliers and systems integrators have a vital role to play here in delivering the business agility organisations are looking for.”

VIMAL SINGH THAKUR
PGDM 1ST YR