Data: Better Fresh
May 18, 2022
Decisions based on data are only as good as the data on which they are based. That seems obvious, but according to BetaNews, “Over 80 Percent of Companies Are Relying on Stale Data to Make Decisions.” Writer Ian Barker summarizes a recent study:
“The research, conducted by Dimensional Research for data integration specialist Fivetran, finds that 82 percent of companies are making decisions based on stale information. This is leading to wrong decisions and lost revenue according to 85 percent. In addition 86 percent of respondents say their business needs access to real-time ERP [Enterprise Resource Planning] data to make smart business decisions, yet only 23 percent have systems in place to make that possible. And almost all (99 percent) say they are struggling to gain consistent access to information stored in their ERP systems. Overall 65 percent of respondents say access to ERP data is difficult and 78 percent think software vendors intentionally make it so. Those surveyed say poor access to ERP data directly impacts their business with slowed operations, bad decision-making and lost revenue.”
The write-up includes a few info-graphics for the curious to peruse. Why most of those surveyed think vendors purposely make it difficult to access good data is not explained. Fivetran does emphasize the importance of “looking at the freshest, most complete dataset possible.” Yep, old info is not very helpful. The company asserts the answer lies in change data capture, a service it happens to offer (as do several other companies).
Cynthia Murrell, May 17, 2022
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