A survey by VMware indicates that European businesses struggle to innovate because of ineffective data use.
VMware’s report reveals that many of the European enterprises surveyed struggle to extract value from data. The companies have difficulty innovating and miss out on strategic opportunities.
Although the respondents endorse the importance of data for strategic goals and innovation, VMware sees a significant gap between intent and implementation. Companies that want to improve often don’t.
The main challenges cited by respondents are excessive data volumes, difficult access to data and a lack of the right technology stack for data-driven work. Furthermore, VMware reasons there’s a lack of digital skills and data infrastructures needed to overcome compliance requirements.
According to the researchers, the solution starts with business leaders. If they start trusting data to make decisions and improving the data literacy of employees, companies can overcome compliance challenges, VMware said.
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