Three-fourths of business leaders in Asia Pacific and two-thirds globally report that they use data every day, according to survey results from Talend.
However, 96% of APAC respondents and 78% globally say they face challenges in using their data. In both cases, more than a third (35% for APAC) say they simply aren’t using it to make the majority of their decisions.
From March 24 to April 8, Qualtrics surveyed for Talend 529 global executives — one-fourth of who are based in APAC — with titles ranging from director to the C-suite, from companies that make more than $10 million in annual revenue.
Only 45% of APAC executives (compared half of global respondents) highly rate their ability to deliver the basics — timely, accessible, complete, and accurate data.
Data management companies have been offering to solve these problems for years — but they’re focused on the mechanics of data like moving it and storing it.
“Our relationship with data is unhealthy. Only 40% of executives always trust the data they work with (45% of APAC respondents),” said Christal Bemont, CEO of Talend. “The reality of data is falling well short of the industry’s vision.”
Data health is Talend’s vision for a holistic system of preventative measures, effective treatments, and a supportive culture to actively manage the well-being of corporate information. It is designed to allow companies to answer basic questions about their data that remain challenging for many to address – where it resides, who has access to it, whether it’s accurate, and how much it’s worth.
Data health would help organizations understand and communicate — in a quantifiable way — the reliability, risk, and return of this extremely critical business asset.
The survey also showed that 13% of APAC executives do not think that their company’s investments in data management is worth it, and 40% say there are no standards for data quality at their company.
Further, 97% of APAC executives agree there should be cross-industry standard metrics to assess the quality of all enterprise data.