Organizations Are Prioritizing High-Quality Data to Respond to Market Disruptors
28 Novembro 2023 - 11:30AM
Business Wire
New Experian research shows the focus areas in
which companies are investing in their data
Over the next year, market disruptions, including advancement in
artificial intelligence (AI), rising operational costs, depleting
skill shortages and shifting consumer expectations, are expected to
increase. As a result, organizations are investing in high-quality
data to stay ahead of the ever-changing technology landscape,
according to new Experian® research.
With more than 500 business leaders surveyed, 88% affirm that
market disruptors and challenges are set to intensify over the next
year. As a result, 87% of respondents say that high quality,
trusted data plays a critical role in responding to these
challenges.
Data investment extends beyond the data
In addition to investing in high-quality data, organizations are
focused on the people, processes, and technology that interact with
the data. Almost half (40%) of surveyed leaders indicate they are
hiring and developing business users’ data skills, while 37% are
hiring and developing data professionals. Forty percent have stated
they are investing in the automation of data quality rules and
processes, and 35% are implementing a data governance program.
“Coming out of the pandemic, the business landscape has
transformed drastically, reflecting a bit of a technological
revolution. High-quality data is a stabilizer during times of
change or uncertainty,” said Simone Lima, general manager of
Experian Data Quality. “But high-quality data encompasses more than
just the data itself. It’s important for organizations to shore up
other aspects of the data process, including staff and automation,
to truly make the most of the valuable information it
provides.”
Benefits of high-quality data
Having high-quality data can result in a valuable business
impact both internally and externally. The survey revealed that
business leaders believe improving trust in data is expected to
benefit organizations by:
- Improving customer experience (42%)
- Better response to market changes and disruption (35%)
- Allowing greater business agility to react to rapid market
changes (39%)
- Improving competitiveness and differentiation (35%)
“Preponderantly speaking, high-quality data provides the entire
organization with relevant insights to deliver a better customer
experience, respond to new trends and stay ahead of competitors,”
continued Lima. “Businesses don’t just want to survive in today’s
marketplace, they want to succeed. Having the most up-to-date
consumer information to better understand who their target audience
is and how to reach them is key to staying relevant.”
Additional survey findings:
- 41% of businesses are investing more in data as they maintain
the investment promotes sustainability and growth.
- 8 out of 10 say data observability will be important in the
next year.
- Almost a third of leaders say that agility is an important
priority to better manage uncertainty.
- 33% say that technology advancement in AI is one of the biggest
market pressures.
- 26% believe that investing in the employee experience is a top
priority for this year.
For more information on Experian’s annual data quality research
report, please visit
https://www.edq.com/resources/data-management-whitepapers/mastering-tomorrows-markets-the-data-quality-revolution/.
About Experian
Experian is the world’s leading global information services
company. During life’s big moments — from buying a home or a car,
to sending a child to college, to growing a business by connecting
with new customers — we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organisations to prevent identity fraud and crime.
We have 22,000 people operating across 32 countries and every
day we’re investing in new technologies, talented people, and
innovation to help all our clients maximise every opportunity. With
corporate headquarters in Dublin, Ireland, we are listed on the
London Stock Exchange (EXPN) and are a constituent of the FTSE 100
Index.
Learn more at www.experianplc.com or visit our global content
hub at our global news blog for the latest news and insights from
the Group.
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version on businesswire.com: https://www.businesswire.com/news/home/20231128887961/en/
Jordan Takeyama Experian Public Relations 1 951 733 8768
jordan.takeyama@experian.com
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