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According to the latest report by Alation, only 18% of data leaders expect to receive the full amount of funding they say is necessary to get or stay ahead of the competition for data and analytics, even as almost all (98%) cite needing it.
This new research reveals that while data leaders feel the pressure to remain competitive, the C-suite is dangerously behind in making needed investments in data and analytics. Without this critical investment, creating a data culture becomes impossible — introducing significant risk to the organization and disruption by competitors that threaten their existence. So, how do you drive a data culture?
Data catalogs remain at the heart of establishing a data culture. In fact, 87% of data leaders said data catalogs were very important or essential to their efforts. This is a significant increase from 68% of data leaders in Q3 2021, just 6 months earlier. Respondents also agree the first steps to building a data culture include creating data processes (44%), creating an inventory of existing data (43%), and fixing existing data quality issues (38%).
When it comes to progress barriers, 66% of data leaders cite company leadership as an obstacle to getting the funding they need, including 42% who say the C-suite doesn’t follow through on promised investment in programs that drive data culture. What’s more, only 29% of data leaders are very confident their CEO understands the link between investment in data and analytics and staying ahead of the competition.
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These findings point to a strategy gap between C-level executives and data leaders where executives pay lip service to the benefits of investing in data and analytics, but don’t make it a priority, leaving their organizations vulnerable to disruption.
Previous reports by Alation have repeatedly shown a direct correlation between a strong data culture and an organization’s ability to achieve or exceed revenue goals. This trend continued with the most recent report which found that organizations with a top-tier data culture remain the most likely to meet or exceed their revenue goals, as almost all (90%) did so over the past 12 months.
More than 600 data leaders globally participated in the latest Alation State of Data Culture Report.
Read the full report by Alation.
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