lot of money. This is at least the conclusion of a recent study carried out in the United States and the United Kingdom by the data specialist Dun and Bradstreet .
According to this report, almost 20% of companies admit to having lost a client due to having incomplete or inaccurate information about them . And another 15% admit to having failed to sign a new contract with a client for the same reason.
, 18% of companies admit to having granted too much credit to a client because of the poor quality of the data they have about that client (and have lost money in the process).
When it comes to complying with data laws, British companies (31%) are bahrain phone number doing a much better job than their American counterparts (16%). Even so, 10% of companies (regardless of their origin) have been fined at some point for breaking data laws.
Data, a real money sink for companies
On the other hand, 46% of companies complain that data is not shared sufficiently internally in order to maximize its use.
The main challenges that companies face when trying to interpret data in a truly useful way are data privacy protection (34%), data accuracy (25%) and data analysis and processing (23%).
It is also worth noting that 4 out of 10 companies do not have a specific person in charge of data management.
The lack of data managers in companies probably explains another figure: that 52% of business leaders admit to not having the budget to implement data management practices.
“Companies need to embrace data governance and make data management a priority,” said Monica Richter, chief data officer at Dun & Bradstreet.