New research from data technology firm, Rosslyn Analytics suggests that just 23 percent of UK business decision-makers see data as a strategic asset.
The study, which looked at 600 UK organisations, found that 43 percent of respondents believed it was too hard to use data efficienctly because there were too many sources and varieties of data to go through. This was closely followed by a lack of quality information.
Supply Management quotes chief executive Charlie Clark as saying: ““Our research shows that only 30 per cent of business leaders explore data with a set question. Understanding data is key to achieving data-business alignment, where data not only informs business strategy but the business strategy also dictates the type of data owned by the organisation.”
To find out why data is incredibly important to supply chain management and the procurement department in particular, read our article featuring Rob Scharff, purchasing and logistics manager at Stolt Tankers.