F E A T U R E respondents have made decisions based on inaccurate data , and 36 % have made inaccurate forecasts – although the true amount could be even higher .
F E A T U R E respondents have made decisions based on inaccurate data , and 36 % have made inaccurate forecasts – although the true amount could be even higher .
Furthermore , 31 % have suffered customer complaints , 31 % have delayed product or service launches , 27 % have missed reporting deadlines ( including businesses from heavily regulated sectors such as financial services ) and 25 % have missed revenue opportunities .
“ Leaders are using data for big businessdefining decisions , so they ’ d better be confident that information is right ,” said Matt Penton , Head of Data and Analytics at Appsbroker & CTS . “ Reporting bad numbers can have very serious and public repercussions , and customer complaints can quickly lead to churn . Unless you ’ re selling grated unicorn horns , customers can and will go elsewhere . These are the tangible costs that can sink a company when data is used ineffectively .”
IT leaders reported using over 30 different data sources on average . As the volume and complexity of data architecture increases , many businesses are struggling to keep pace :
• Less than half ( 46 %) of IT projects that rely on data run on time , within
LEADERS ARE USING DATA FOR BIG BUSINESS-DEFINING DECISIONS , SO THEY ’ D BETTER BE CONFIDENT THAT INFORMATION IS RIGHT .
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