C-Suite & Data: Close The Trust Gap With Better Data Management
Solutions Review, Monday, August 14,2023
In this feature, Syniti CEO Kevin Campbell offers commentary on the C-suite and data, and how enterprises can close the 'trust gap' with better data management.
Organizations have thought of data as the sole purview of IT rather than the true business driver it is for far too long. Fortunately, mindsets are evolving. Business leaders have learned that data must be considered as a crucial element of success and a strategic advantage due to its ability to drive value.
Data management is becoming a C-suite priority for many businesses, according to worldwide study conducted earlier this year by HFS Research, which revealed that 46 percent of participants said their CEOs are establishing the data objectives. Even though it's encouraging to see that data has moved up to the C-suite agenda, the same study revealed a significant gap between perceived data trust and actual operationalizing of data across the business. Executive participants revealed that 60 percent or less of their organization's data is useful, despite the fact that 80 percent of them claimed they trust that data. This reveals a significant disparity between accepting the data and really applying it to influence important business outcomes.