Data Distrust: A Reputational Hazard to IT Companies

If the clients are sharing personal information, you have already won their trust. They believe you are capable of protecting their data. Nonetheless, data mistrust is the most common issue faced by enterprises. In this article at Intelligent CIO, Alix Pressley shares that data distrust is the primary reason for irrational decisions. According to recent research of an Intelligent Integration platform SnapLogic, about 77 percent of IT decision-makers (ITDMs) are skeptical about in-house data. It requires regular reviews and analytics by a dedicated team to ensure you are not wasting effort on it.

Faulty Data Analytics

An independent research firm Vanson Bourne has initiated new research titled “Data Distrust.” The report suggests that inconsistent data analytics practices are the root causes of data mistrust. However, data analytics is critical for 82 percent of enterprises, while about 84 percent attribute project delays to the wrong data format.

Data distrust has a massive influence on business growth and success. Almost 76 percent of organizations lose growth opportunities, while 72 percent suffer a negative impact on customer engagement and satisfaction. Moreover, 68 percent of companies become sluggish in reacting to market competition.

Some continue with a little faith in their organization’s data. Nonetheless, 54 percent of them are vulnerable to worsening strategic decisions. About 64 percent of IT decision-makers think data mistrust is the root cause of a temporary struggle. Thus, many companies lack the prospect of staying updated in the market competition.

Regain Trust in Data

To restore data trust or upgrade access to quality data analytics in-house, improve data standardization. Effective data analytics can provide substantial benefits to your organization. Switch to modern integration tools to automatically democratize data.

Click on the following link to read the original article: https://www.intelligentcio.com/eu/2020/12/09/77-of-it-leaders-dont-fully-trust-the-data-in-their-organisation-for-decision-making/

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