Finance leaders believe data management is a burden on businesses, yet less than half of organizations have a data management strategy in place.
Poor data management practices inevitably lead to poor outcomes, with bad decisions based on bad data. Data must also be protected, with weak practices leading to cyber breaches. The reputational damage to an organization’s brand cannot be underestimated. However, when managed well, data offers a competitive advantage. In the past, data was typically informed historical reporting, with internal needs and compliance taking priority.
There is a new data paradigm. Data is the new currency in the digital age.