Despite Data's Importance, More than a Third of Business Leaders Don't Use It for Critical Decisions

Rhea-AI Summary

Talend (NASDAQ: TLND) released a survey highlighting significant challenges businesses face in using data effectively. Although two-thirds of business leaders utilize data daily, 78% struggle to leverage it for decision-making, with over a third relying on gut instinct. The survey reveals that only 40% of executives fully trust their data. Talend promotes the concept of data health as a solution, focusing on data quality and reliability. Their approach aims to help companies manage and understand their data better, improving decision-making and operational efficiency.

Positive

• Talend's concept of data health addresses critical quality and reliability issues, providing a framework for effective data management.
• Customers report enhanced analytics capabilities and business flexibility by prioritizing data health.

Negative

• Over a third of business leaders do not use data for critical decisions, reflecting a gap in data-driven decision-making.
• Only 40% of executives trust the data they work with, indicating significant issues with data reliability and quality.

REDWOOD CITY, Calif., May 11, 2021 /PRNewswire/ -- Talend (NASDAQ: TLND), a global leader in data integration and integrity, today released the results of a survey¹ that highlighted the challenges businesses face in becoming data-driven organizations and the solutions to these challenges. It's clear that business leaders know how important data is — two-thirds report that they use data every day. Yet 78% of these leaders say they face challenges in using their data, and more than a third say they simply aren't using it to make decisions.

There's a difference between data-saturated and data-driven. Companies have more access to data than ever before, but there's very little way to make sense of it. Only half of the executives 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, and more than a third of executives are still making decisions based on gut instincts," said Christal Bemont, CEO, 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 take into account the overall health of data. Therefore, in trying to manage data, companies are in fact creating digital landfills of corporate information. This has to change. Our vision of data health is the future because it recognizes fundamental standards for quality and reliability are critical for corporate survival."

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.

Customers report that a focus on data health is having a positive aspect on their business. "Without access to quality data on time, we could have never achieved the scale of analytics we are currently in," said Ranadip Dutta, solution architect manager, Lenovo. "We now have flexibility along with scalability."

Read the full survey report to discover the differences in how people who produce and deliver data feel about working with data, versus those who consume it. You'll also learn more about industry data trends and whether functional groups in every organization are working with data effectively.

For more information on the Talend Data Health Survey and data health, click here. 

¹ From March 24^th to April 8^th, 2021, Talend led a survey via Qualtrics of 529 global executives — with titles ranging from director to the C-suite — from medium and large companies making more than $10 million in annual revenue to assess their ability to make data-driven decisions.  

About Talend  
Talend (NASDAQ: TLND), a leader in data integration and data integrity, is changing the way the world makes decisions. 

Talend Data Fabric is the only platform that brings together all the data integration and governance capabilities, to simplify every aspect of working with data. Talend delivers complete, clean, and uncompromised data in real-time to all. This unified approach to data has made it possible to create the Talend Trust Score™, an industry-first innovation that instantly assesses the reliability of any data set to bring clarity and confidence to every decision. 

Over 6,500 customers across the globe have chosen Talend to run their businesses on trusted data. Talend is recognized as a leader in its field by leading analyst firms and industry media.  

For more information, please visit www.talend.com and follow us on Twitter: @Talend. 

 

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SOURCE Talend Inc.

FAQ

What challenges do business leaders face in using data according to Talend's recent survey?

Talend's survey reveals that 78% of business leaders face challenges in using data effectively, with many relying on gut instincts instead of data-driven insights.

What is Talend's vision for data management?

Talend promotes the concept of data health, which focuses on ensuring data quality and reliability as essential for effective corporate decision-making.

How does data health improve business performance for Talend customers?

Customers report that by focusing on data health, they achieve better analytics capabilities and greater operational flexibility.

What percentage of executives trust their data according to Talend's findings?

According to the survey, only 40% of executives fully trust the data they work with, highlighting concerns about data reliability.

What did the survey conducted by Talend assess?

The survey assessed the ability of 529 global executives from medium and large companies to make data-driven decisions.