Enterprise leaders cannot stop touting data as the most important thing in business. However, about 36% of business leaders do not leverage its usefulness to make important decisions.
A survey by Talend, an open-source data integration platform, found that 78% of business executives do not know how to work with data to make decisions.
The results indicate that the partnership businesses have with data is not healthy and that only 40% of execs trust the data they use all the time. For many years now, data management and use for analysis has been limited.
The last few decades saw data management and analysis focus on collection, storage, cleaning, and cataloging as much of it as possible. The plan was to use it later. Right now, a lot of the collectors don’t know what data they have, where it is stored, or who is using it.
Even worse, the companies don’t even know how to measure their data health, which is very important in determining how it is used.
Talend has a vision of a comprehensive system for ensuring that corporate information’s well-being and return are possible. Data health for the platform offers proactive treatments, reliable measures, and prevention for the identification and correction of issues.
Data health has very specific requirements, tolerance to risk, and regulations. It will take a lot of collaborations and research to make sure that different companies adopt a standardized way of looking at this.
The goal is to use the standards to evaluate corporate data health across all industries.
Talend has a framework that uses four primary areas to establish data health including reliability, value, understanding, and visibility. With these standards, more businesses can learn to use the data they have and leverage it for decision-making and transitioning to the new digital age.