Organizations Are Underutilizing Their Data – Here’s Why (and How to Fix It)
The mainstreaming of predictive analytics and generative AI has brought Data Management into focus. Artificial Intelligence both runs on and produces a vast amount of data that must be effectively managed, governed, and analyzed. However, a recent survey of 1,000 North American executives revealed that organizations aren’t quite up for the challenge.
Many companies are not prepared to implement AI or other germany whatsapp number data technologies into their existing IT infrastructure and workforce in a timely manner or in a way that allows for the full benefits of these new technologies. That’s partially because companies are still struggling to utilize their data to its full potential. Nearly half (46%) of organizations don’t use data to gain insights or make decisions, because a whopping 72% don’t consider their data a strategic asset. Here, I explore some of the reasons behind this disconnect and how companies can correct their Data Strategy before it’s too late.
According to the 2023 “Innovation Index,” enterprise workforces are not ready for the AI revolution because there is a dire lack of employees equipped to handle such technology and the data that comes with it. Forty-three percent of organizations – a nearly three-fold increase from 2021 – say lack of employees with necessary data analysis skills is their biggest challenge for using their data. While overall job openings are at their lowest level in nearly three years, information/tech job openings are expected to grow by as much as 32% between 2022 and 2032, showing the continued demand for workers in this space.