Data is the lifeblood of an organization. And yet, new research uncovers that data silos and ineffective collaboration are holding companies back, impeding their ability to fully harness their data for better decision making and faster business outcomes. The result: the wasted time and resources, duplication of work, and missed opportunities caused by disconnected data are stifling innovation, hurting customer experience, and costing businesses $140 billion.
Together with independent research firm Vanson Bourne, we surveyed 500 businesses users and IT decision makers in large enterprises across the US and UK to determine the true impact of disconnected data, how prevalent it is, what’s causing it, and the problems it’s posing to businesses.
Some key findings of our research include:
- Organizations in the US and UK are losing $140 billion each year in wasted time and resources, duplication of effort, and missed opportunities as a result of disconnected data
- Forty-seven percent (47%) believe disconnected data is negatively impacting their organization’s ability to innovate, develop new products and services, and get them to market quickly
- Forty-six percent (46%) state that disconnected data is impacting their ability to engage, support, and meet the needs of customers
- Over half (56%) believe data silos are building barriers between them and their business objectives
To learn more, download our new study on “The High Cost of Disconnected Data” today.