CEOs Unaware of Company Data Frustrations

 
 
By Dennis McCafferty  |  Posted 02-06-2015 Email
 
 
 
 
 
 
 
 
 
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    Missing Element
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    Missing Element

    57% of global execs surveyed believe their company does a poor job of capturing and disseminating important business data.
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    Elusive Analytics
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    Elusive Analytics

    42% of those surveyed said access to data is cumbersome while not being user-friendly, and 39% said access is limited and strictly controlled.
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    Unfair Advantage
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    Unfair Advantage

    Two-thirds said some departments have better access to data than others.
  • Previous
    Incohesive Effort
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    Incohesive Effort

    Only 38% of those surveyed said their organization has a centralized unit that is responsible for introducing and implementing all data/analytics initiatives.
  • Previous
    CEO Misimpressions: Limited Grasp
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    CEO Misimpressions: Limited Grasp

    47% of CEOs believe that employees have access to the data they need, but only 27% of all survey respondents agree.
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    CEO Misimpressions: Bad Timing
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    CEO Misimpressions: Bad Timing

    43% of CEOs believe that relevant data is captured and made available in real time within their organizations, but just 29% of all respondents say this is true.
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    CEO Misimpressions: Uninspiring Information
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    CEO Misimpressions: Uninspiring Information

    38% of CEOs said their employees extract relevant insights from data, but only 24% of all respondents agree.
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    Distinctive Quality
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    Distinctive Quality

    68% of companies that "always" rely on data to substantiate business decisions are more likely to outperform their competitors, compared to 40% of organizations that don't do this.
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    Biggest Impact of Data Availability/Usage
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    Biggest Impact of Data Availability/Usage

    Employees share knowledge more quickly and freely: 63%, Internal risks are better controlled, with greater efficiency within operations: 57%, Business units and departments increase collaboration: 48%
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    Biggest Data Adoption/Usage Obstacles
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    Biggest Data Adoption/Usage Obstacles

    Lack of processes to integrate data insights into decision-making: 38%, Lack of access to needed data: 34%, Inadequate employee skills/training: 34%, Inadequate or outdated tech: 32%, Insufficient funding: 31%
 

CEOs are convinced that their organizations are doing a far better job with data analytics than they actually are, according to a recent survey from Teradata. The report, titled "The Virtuous Circle of Data: Engaging Employees in Data and Transforming Your Business," reveals that most CIOs, directors and other executives believe that their companies do a poor job of capturing and distributing data. They also say data access is either strictly controlled and/or cumbersome. But a significant share of CEOs mistakenly feel that employees are getting access to all the data they need, while extracting relevant, actionable insights from the results. Clearly, corporate leadership, management and employees must do a better job of working together to maximize data's potential. "Organizations succeed when the data-driven vision and leadership are shared," said Chris Twogood, vice president of products and services marketing for Teradata. "And the benefits of data initiatives are consistently tracked, promoted and, most importantly, linked to corporate goals and business results." More than 360 global CIOs, CTOs, directors and other executives took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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