Matillion study highlights the business cost of managing obsolete data
DENVER and MANCHESTER, England, November 16, 2021 / PRNewswire / – With digital transformation and cloud migration accelerating over the past two years, businesses have struggled to keep pace with the complexity and volume of data. Now, new industrial research, carried out on behalf of Million by independent research firm Vanson Bourne, uncovers a root cause of this problem, revealing that 75% of data teams believe outdated migration and maintenance processes are costing their organization time, productivity and money – potentially at an annual price of up to $ 43.5 million.
A survey of 450 decision makers and data team members in the US and UK found that data teams report spending 57% of their time, on average, migrating and maintaining data. data. In addition to robbing data teams of the time and labor that could be spent on strategic and analytical work, these efforts are also costing companies millions. By addressing a few key data challenges, companies could improve enterprise data initiatives.
The survey identified five critical areas where data teams are struggling:
- The significant amount of time spent on maintenance tasks makes it difficult for data teams to provide information and results. A majority of respondents cited three main tasks as requiring a relatively high or very high level of effort: providing data from disparate sources (63%), preparing data for analysis (56%), and the export / return of data to SaaS applications / systems (55%).
- The negative impact of slow data migration and maintenance is felt throughout the enterprise. Two-thirds of respondents (66%) believe their organization is wasting time preparing data.
- Certain types of data are being left behind and data teams have new (and growing) blind spots. Almost 40% of data teams surveyed admit they don’t fully understand how data is used in their organizations, and 44% worry about the challenge of managing the diversity of the types of data they work with. Cloud data (32%) and IoT data (31%) were reported as the sources most often unavailable or inappropriate for business intelligence and analysis.
- The war for talent is hitting enterprise data teams hard. While these roles have a noticeably high turnover rate, 87% of data decision makers agreed that their organization struggles to retain talent. More than two-thirds of data users surveyed said they plan to quit their jobs in the next two years, and 29% are strongly considering quitting.
- Data teams are exhausted – companies need to lighten their load to retain talent. Half of the data users surveyed found that the constant pressure and stress of inefficient data integration causes them to burn out and push data teams to seek new employment opportunities where they are not stressed (79 %) or bored (53%).
“Despite the acceleration of digital transformation over the past 18 months and the high volume of data entering the enterprise, survey results reveal that data integration practices remain outdated and primitive, creating tensions between data teams and leaders and information gaps in the business, ”said Matthew Scullion, CEO of Matillion. “In order to harness the power of data as a strategic asset, organizations must reduce the time spent on refining, migrating, and manually integrating data and maintaining these integration tasks. It’s critical that leaders offload teams of data, increase their productivity, and broaden the profile of users who can make data useful. Only then will they be able to respond to their businesses with the speed and agility they demand and demand.
Matillion detailed the results of this investigation in full in an ebook titled The data divide: key challenges facing enterprise data teams. To read the ebook and learn more about the survey, visit matillion.com/2021-enquiry.
This survey was carried out in partnership with Vanson Bourne. Matillion surveyed 450 data professionals who work full-time at various companies in the public and private sectors (over 500 employees or over $ 250 million in revenue) and are based in the UK (150) or the United States (300). Respondents included titles of decision makers and data users.
Matillion makes world data useful with an easy-to-use cloud-native data integration and transformation platform. Optimized for modern enterprise data teams, only Matillion is built on native integrations to cloud data platforms such as Snowflake, Delta Lake on Databricks, Amazon Redshift, Google BigQuery, and Microsoft Azure Synapse to enable new levels of efficiency and productivity in any organization. See how Matillion delivers rapid returns on cloud investments for global corporate clients at www.matillion.com.