Report: Flawed knowledge administration results in misplaced income for many firms

Report: Flawed data management leads to lost revenue for most companies

In response to a brand new report by Fivetran and Wakefield Analysis, 85% of information leaders surveyed say flawed knowledge administration results in poor decision-making and misplaced income. General, the outcomes present an in depth take a look at the place these knowledge administration processes are failing and why knowledge and analytics leaders are struggling to maintain up.

Almost 3 in 4 knowledge and analytics leaders (72%) say their staff’s time is being wasted on handbook oversight of information pipelines — a poor use of time and expertise. Sixty-nine p.c of information and analytics leaders say their enterprise outcomes at their firm could be considerably or considerably improved if their knowledge staff have been capable of contribute extra to enterprise selections moderately than handbook pipeline administration. The handbook method is filled with inefficiencies and by no means optimized. Eighty p.c of these surveyed admit they should rebuild knowledge pipelines after deployment, resembling altering APIs.

Along with being error-prone, the method for deriving precious perception from the info with handbook pipelines is extraordinarily gradual. Solely 13% report with the ability to derive worth from newly collected knowledge in minutes or hours. For 76% of firms, together with 74% of firms with $500 million-plus in income, nevertheless, it takes days or as much as per week to organize the info for revenue-impacting selections.

The Fivetran survey was performed by Wakefield Analysis amongst 300 knowledge and analytics leaders, VP and above; within the U.S., U.Okay., Germany, and France; at firms with $100 million+ in annual income, a minimal of 100 workers, and who’re accustomed to the info technique/knowledge use at their group; between September 27 and October 12, 2021, utilizing an electronic mail invitation and an internet survey.

Learn the full report by Fivetran and Wakefield Analysis.

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