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Even as enterprise leaders tout the importance of data, 36% of business leaders don’t rely on it for making critical decisions, according to a survey by Talend, an open source data integration platform. The same survey found that 78% of business executives face challenges effectively working with data to make decisions.
Above: 40% of business leaders still rely on gut decisions, not data.
Our relationship with data is not healthy. Talend’s survey found only 40% of executives always trust the data they work with. For decades, managing and using data for analysis was focused on the mechanics: the collecting, cleaning, storing, and cataloging of as much data as possible, then figuring out how to use it later. Companies don’t know what data they have, where it is, or who is using it, and, critically, no way to measure their data health.
Data health is Talend’s vision of a comprehensive system for ensuring the well-being and return of corporate information. Data health offers proactive treatments, quantifiable measures, and preventive steps to identify and correct issues, ensuring that corporate data is clean, complete, and uncompromised.
Data health is a complex journey of unique requirements, regulations, and risk tolerance. It will take substantial market collaboration and research to align on appropriate standards for different companies. Eventually, data health solutions will help create a universal set of metrics to evaluate the health of corporate data and establish it as an essential indicator of the strength of a business. Talend’s initial framework imagines four primary focus areas to establish data health: reliability, visibility, understanding and value. We believe that data health will become a key, if not the most important, performance framework used within and across organizations to monitor and evaluate the health of the company. With this new data health first approach, and new standards, leaders can level the employee playing field and drive a data-charged cultural change.
From March 24th to April 8th, 2021, Talend led a survey via Qualtrics among a base of 529 independent respondents worldwide. (57% North America, 26% Asia-Pacific, 17% Europe). The respondents are all executives — with titles ranging from director to the C-suite — from medium and large companies making more than $10 million in annual revenue.
Read Talend’s full report Data Health Survey.
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