S&P Global Market Intelligence and Immuta released a new study[1] this week highlighting how many larger organizations are struggling to manage and use their data.
The report, conducted by 451 Research, found that 55% of respondents said the data they get for analysis is often out-of-date or stale by the time it gets to them. 451 Research surveyed 525 data leaders in the US, Canada, UK, Germany and France. All of the survey participants work for organizations that have more than 1,000 employees.
The survey's findings represented the larger debate being had among enterprises about how to balance effective data use with data privacy and security. Of the respondents to the survey, 84% said they thought data privacy and security requirements would limit access to data at their organizations over the next 24 months.
Nearly 40% of respondents who work as data suppliers said they lack the staff or skills to handle their positions, with almost 30% citing a lack of automation as a problem.
At least 90% of those who answered the survey said data quality and trust were becoming more important than the volume or quantity of data, while the role of chief data officer is becoming increasingly prominent within organizations. A majority of respondents said the chief data officer had direct access to the CEO.
According to the survey, 60% of respondents said their organizations have a chief data officer while 40% do not. The numbers also corresponded to organization size, with larger enterprises being more likely to have a chief data officer.
"The findings are clear. As data workflows and processes have become more complex over time -- and as organizational demand for data grows -- there are clear points of friction in the data supply chain," said Paige Bartley, senior analyst at