UK organisations failing to make data work for business

The survey of 300 UK IT directors and managers sought views on; how effectively data was used within organisations, the main perceived challenges to an effective data strategy and where the main business opportunities lay.

Is the chief data officer failing to deliver?

Although 71 per cent of IT managers said that their organisation had a dedicated chief data officer or similar to ensure data quality and interoperability is maintained across the business, 79 per cent believe their organisation could make more use of data analytics.

Lack of data strategy, business process and technology holding back business
When asked to identify why they believed that their organisations were failing to make better business use of data, almost a quarter (23 per cent) claimed that there was no data strategy in place at all across their organisation.

For those who had a data strategy in place the picture was not much rosier with 36 per cent of those respondents saying that they did not have the business processes or technology to implement the strategy. Only 12 per cent claim to have the strategy, technology and business processes to fully capitalise on operational and revenue benefits.

The data business opportunity gap

The survey identified a clear gap between how organisations were currently utilising data and the perceived opportunity for the business in doing this.
Over half of all respondents believed better use of data within their organisations could improve business operations. Forty-five per cent believe that it would reveal better customer behaviour trends, 45 per cent believe it would improve security and an impressive 38 per cent argue that it would generate more revenue for the business. One in six even stated that in their view it would improve employee retention!

The Internet of what…

While 19 per cent of respondents are already exploiting the new data that could become available through the Internet of Things, almost half (41 per cent) claimed they were currently in planning stage. Twenty-five per cent of respondents acknowledged the need to exploit it but claimed they were not currently doing so. More worryingly, 16 per cent of IT managers didn’t know what the Internet of Things was!

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