APAC Leaders Not Using Data for Business Decisions
Business leaders globally know the importance of data with a majority (two-thirds) reporting that they use data every day, according to a new survey of global executives by Talend. However, the survey also found that one in three (35%) of respondents in APAC are not using data to make most of their decisions.
The findings were outlined in Talend’s 2021 Data Health Survey, conducted in March and April 2021 by Qualtrics. A total of 529 global executives from medium and large companies making more than USD10 million in annual revenue were polled, of which a quarter (26%) were from APAC.
The findings
According to Talend, only half (45%) of APAC executives highly rate their ability to deliver the basics: timely, accessible, complete, and accurate data. Though data management companies have been offering to solve these problems for years, they remain focused on the mechanics of data like moving it and storing it.
Some additional findings:
- 13% of APAC executives do not think that their company’s investments in data management is worth it (22% globally).
- 40% of APAC executives report that there are no standards for data quality at their company (38% globally).
- In an ideal world, 75% of APAC executives would like to make the majority of their decisions based on data (73% globally).
Finally, sales and marketing teams are the least data-driven departments – nearly half of them (48%) make the majority of their decisions without relying on data. The finance department is close behind, with 44% of finance executives reporting the same.
“Our relationship with data is unhealthy. Only 40% of executives always trust the data they work with (45% of APAC respondents), and more than a third of executives are still making decisions based on gut instincts (35% of APAC respondents),” said Christal Bemont, the chief executive officer of 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, all companies are creating digital landfills of corporate information. This has to change. Our vision of data health is the future because it recognizes the fundamental standards that are critical for corporate survival.”
The results of the full survey can be found here.
Image credit: iStockphoto/pertusinas
