The main drivers for data management projects, at 53%, are business-driven projects that enable corporate agility, cost reductions and profit improvements. This is followed by the need to address compliance and risk management issues (48%), then business intelligence and data warehousing initiatives (35%).
'The results of this survey indicate that business leaders are concerned about the quality of data they are receiving from the IT department, and they want accurate information about their customers, revenue performance and overall business success,' said Saul Cunningham, managing director of DataFlux ANZ. 'The responses also indicate there are serious concerns about the quality of the data that companies have on their own customers. Forty% said that customer data is the main data set that needs to be improved.'
Survey respondents said the biggest benefit of implementing a data management program is to provide accurate data to the business leaders (24%), followed by better control over vital product data (18%). Cunningham said there continues to be a need to educate business and IT leaders about the significant benefits of data quality and data integration projects.
The primary barriers to the adoption of data management programs are lack of funding, competing IT projects and a lack of knowledge of the severity of the data challenges that exist within the organisation. However, Cunningham said major Australian organisations are starting to realise the importance and see the benefits of better managing its data across the enterprise.
'Organisations realise they must now address the most competitive weapon at their disposal - the data that runs through their organisation,' Cunningham said. 'Not only can this data help increase their productivity but trusted data can enable them to make smarter business decisions.'