It’s no secret that what companies need from their data and what they can actually get from their data are two very different things. According to our recent survey, most executives work with data every day, but only 40% of them always trust the data they work with. We also discovered that 78% of them have challenges making data-driven decisions. Virtually every business is collecting more data than ever before, so lack of data can’t be the issue. The problem is that there’s just too much data that isn’t ready to act on.
When data isn’t accessible, reliable, or well understood, it’s no wonder that more than a third of business leaders say they go with their gut – rather than their data – to make decisions.
We think there’s a better way. Through a concept we call “data health,” organizations can develop a deeper understanding of their data and achieve a common language of data quality. Data health describes how well a company’s data supports actionable and timely insights across the organization.
Data is healthy if it is easily discoverable, understandable, and of value to the people that need to use it, and these characteristics persist throughout its lifecycle. When everyone participates in maintaining the well-being of corporate data, everyone can trust it to guide their decisions.